Source: World Wildlife Fund
WASHINGTON, DC, AUGUST 6, 2020 – In a first for World Wildlife Fund (WWF), with generous support from The Jeremy and Hannelore Grantham Environmental Trust, the organization announced an $850,000 investment in Ocean Rainforest, to accelerate growth of offshore seaweed production for the benefit of people, communities, and climate gains. Earlier this week, the Faroe Island-based company publicized the closing of an investment round to enable the scaling of seaweed farming operations in the North Atlantic, which was led by WWF.
Through impact investments like this, WWF aims to advance the technologies and processes needed to meet the conservation and societal challenges facing our planet. By investing in Ocean Rainforest, WWF is helping the company pioneer technology and collect data that will inform and benefit the future of offshore seaweed farming.
“Rising global demand for food, fiber, and fuel – as well as where and how global industries obtain vital commodities – puts increasing pressure on nature. WWF recognizes that we cannot solve these challenges alone,” said Carter Roberts, President and CEO of World Wildlife Fund. “We’re excited to support this project because seaweed cultivation holds the potential to reduce these pressures and contribute to a more balanced relationship with nature.”
Seaweed is fast-growing and highly efficient at absorbing CO2. With minimal impacts on freshwater or land, its low carbon footprint can help mitigate the worst impacts of climate change while providing a nutritious source of food for our growing population. Investment in Ocean Rainforest helps propel WWF toward achieving the organization’s goal in this space.
WWF anticipates building impact investment into a core finance tool to help achieve conservation objectives, starting with a focus on sustainable aquaculture and the opportunity to improve water quality, coastal ecosystems, and create more efficient food systems.
About World Wildlife Fund (WWF)
WWF is one of the world’s leading conservation organizations, working in nearly 100 countries for over half a century to help people and nature thrive. With the support of more than 5 million members worldwide, WWF is dedicated to delivering science-based solutions to preserve the diversity and abundance of life on Earth, halt the degradation of the environment and combat the climate crisis. Visit www.worldwildlife.org to learn more and keep up with the latest conservation news by following @WWFNews on Twitter and signing up for our newsletter and news alerts here.
About Ocean Rainforest
Ocean Rainforest is based in the Faroe Islands and brings more than ten years of experience in seaweed cultivation in open ocean conditions. Through its U.S. based subsidiary, Ocean Rainforest is also leading a demonstration project for seaweed cultivation offshore of California, USA. By applying science, innovation, and expertise in growing and processing seaweed for market segments within food, feed, and cosmetics, it is internationally recognized as a key pioneer in this developing industry.