The Barbados government has pledged to protect up to 30 per cent of its waters, funded through a pioneering debt-for nature swap in which a portion of Barbados debt was forgiven and reduced in exchange for ambitious commitments to marine conservation. In 2024, Blue Marine was invited to help develop the island’s first Marine Spatial Plan (MSP), a blueprint for the ocean’s future. This included the identification of priorities, the development of a baseline report on marine and coastal biodiversity, the provision of broader MSP guidance and support for natural capital accounting.
Working with environmental consultancy Eftec, Blue Marine led the creation of Barbados’s first natural, capital account which allows them to track the extent and condition of their marine environment and measure the value of the benefits received. Blue Marine supported a two day training workshop attended by government officials from fields including finance, economics, statistics, environment and development.
The MSP now comprises three protection scenarios, supported by the baseline technical report and the natural capital assessment). Blue Marine continues to work with government stakeholders to advise on the MSP options and ensure the plan is adopted.