Landmark Deal Struck With Seychelles To Create Protected Ocean Area The Size Of UK

The government of Seychelles is doing its bit for conservation and has created a protected area which is the size of the UK in the Indian Ocean. The government created the zone in exchange for having some of its national debt paid off. As a result, the island nation agreed that it will ensure that 210,000 square kilometres of ocean will be protected. The Ocean reserve will prevent tourism and fishing activities in the Seychelles so that no further damage to aquatic life caused by humans occurs.

Leonardo DiCaprio Foundation participated in the deal

A foundation that was established by Leonardo DiCaprio is one of the investors in the deal and the Oscar winning actor said that the deal will ensure the people of Seychelles protect their ocean so that future generations can enjoy it. The deal will also act as a model for future marine conservation efforts all over the world. The President of Seychelles says his country’s large ocean does provide plenty of opportunities for development but that must be balanced against being responsible. This means properly planning to protect the environment so that the country can be sure its people and their livelihoods are protected against a future which is far from certain.

What is the deal?

Apparently, this is the first of its kind. A deal designed to swap debt in order to protect some parts of the world’s oceans. The government of Seychelles agreed to the swap the debt with US based charity Nature Conservancy as well as a number of other investors back in 2016. US$21 million was paid by the charity and a group of investors led by the Leonardo DiCaprio Foundation to the government which will be used to pay off some of its debt.

Seychelles will then funnel future national debt payments into a newly creates special purpose trust named the Seychelles Conservation and Climate Adaptation Trust (SeyCCAT). This vehicle will then offer lower interest rates on outstanding debt and any savings will be used to fund additional projects that will protect marine life and mitigate the impact of climate change.

What will be protected?

The island nation will raise the percentage of ocean waters that are protected from just 0.04% today to a staggering 30% by 2020. The first stage of the plan involves the creation of two new marine parks. The first one will protect the Aldabra Islands which serves as homes to hundreds of thousands of tortoises and other endangered species in the Indian Ocean. The only activities allowed in the area will be research though some highly regulated tourism will still continue.

Hopefully  the deal will serve as a model for others

The second protected area consists of the ocean around the main islands of the Seychelles and will mean that tourism and fishing activities will be limited. Mark Tercek who heads up Nature Conservancy says the achievement is a critical accomplishment in the charity’s mission to bring scale to conservation efforts around the world. Mr Tercek says that he expects the deal that was done with Seychelles to be replicated in the Caribbean and other ocean regions that are being threatened by the impact of climate change.