PRESS RELEASE
As part of HSBC’s global Climate Solutions Partnership, HSBC Mauritius supported a Nature-Positive Roundtable last Friday at the Labourdonnais Hotel. The event aimed to assist Mauritius in advancing on science-based forest and blue carbon credits and coastal nature-based solutions to address issues like coastal erosion and flooding.
Organized by the African Leadership University (ALU) and Lions Club of Quatre Bornes, with support from National Parks and Conservation Service (NPCS) and Air Mauritius, the roundtable brought together 50 senior participants from government, private sector, NGOs, and academia.
The Minister of Agro-industry, Food Security and Blue Economy, Hon, Arvin Boolell emphasized the urgency of protecting Mauritius’ ecosystems to safeguard beaches and lagoons while exploring opportunities as a Large Ocean State. Junior Minister Fabrice David highlighted plans to develop an inclusive ocean economy, leveraging expertise within the Ministry. Both ministers reaffirmed the importance of insights from the roundtable in shaping frameworks for biodiversity restoration and nature-based solutions.
Morning discussions centered on forest carbon credits, including government strategies aligned with Article 6 of the Paris Agreement and NPCS’s presentation on carbon pricing for restoring native forests. Afternoon sessions turned to blue carbon and coastal solutions, with the Blue Economy Division presenting the potential of seagrass meadows for carbon sequestration and announcing a National Blue Carbon Taskforce.
Key contributions included Pollination Group’s methods to de-risk forest carbon investments, ORRAA’s Sea Change Impact Financing Facility and Coastal Risk Index, and ALU’s initiatives to train local talent in ecosystem restoration and climate finance. HSBC Investment Banking shared its involvement in an Amazon reforestation project through a $225 million World Bank Outcome Bond, and also showcased its UAE partnership with WWF on coastal ecosystem restoration.
HSBC’s long-standing partnerships in Mauritius to restore native trees in the Black River Gorges National Park, alongside research into carbon sequestration by native species, were highlighted. The proposed Mauritius Native Forest Alliance (MNFA) aims to unite business, academia, NGOs, and government to combat extinction and bring expertise to the regional level.
HSBC remains committed to fostering collaboration among diverse stakeholders to deliver solutions needed for decarbonizing economies and addressing climate change. The roundtable sets the stage for future initiatives aiming towards COP30 in Brazil, where climate and nature agendas will converge.
