Abstract

The Barbados Marine Management Area (BMMA) is the pilot site for the Blue Finance project, which has proposed a Public Private Partnership (PPP) as a means of sustainably financing the Protected Area. There are very few examples of financing biodiversity with the private sector in the marine and coastal environment (Pascal et al., 2014a) and the potential of such instruments, while appearing to be positive, still has to be proven. Funding opportunities adapted to the for-profit supply side and compatible with marine conservation targets has to be demonstrated. One of the main priorities for the ensuing years is therefore to provide empirical experiences of conservation funding mechanisms, with the primary benefi-ciaries of the ecosystem services of coral reefs; the tourism sector. Implementation will demonstrate the potential of this instrument in a coral reef setting, prior to considering its application at a larger scale and replication in other countries. It is expected that the experiences will contribute to updating existing guidance on PPPs and tourism concessions to support their increased use in coral reef areas.

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