Blue Ventures: Building Transformative Approaches for Catalyzing and Sustaining Locally Led Marine Conservation
| Case Code: LDEN182 Case Length: 15 Pages Period: 2003 -2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.400 Organization : Blue Ventures Industry :Government & Non-Profit Organisations Countries : Madagascar Themes: Social Entrepreneurship, Sustainable Innovation, Sustainability, Disaster Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
BV Business Model
Over the years, research and experience guided BV’s journey in searching for new approaches to demonstrate that marine conservation was in everyone’s interest. Over time, BV moved beyond conservation into rebuilding communities and their livelihoods. It realized that health and environment were integral for the all-round sustainable development of the ecosystem. It expanded its scope of operations to adopt a holistic approach to solving the problems which were interconnected and needed to be integrated into its model. BV implemented the first coastal population, health, and environment (PHE) program in Madagascar, incorporating community health service provisions into its conservation work..
Integrated, Holistic Approach
BV supported coastal communities by recognizing that they faced multiple interconnected challenges that required a range of locally led initiatives that were complementary. This was only possible by taking the holistic approach of working with a wide range of partners (Refer to Exhibit II for Blue Ventures Partners). To inspire, implement, and sustain community-led marine management effectively, core to the BV model was establishing innovation hubs, supporting partners, catalyzing networks, and promoting policy to change the system and make it conducive for conservation..
Funding
BV funded its initiatives through innovative business-based approaches, such as the eco-certification of the octopus fishery, aquaculture projects, and blue carbon research aimed at establishing Payments for Ecosystem Services (PES) for communities. BV Conservation was initially funded largely from BV Expeditions. But over a period of time, BV was successful in generating other fundings. Incomes were generated from donations and gifts, grants for core activities, interest, and other incomes. More than 85% of its income came from grants for core activities..
Work Areas
The BV business model evolved over time and encompassed 6 areas of work – fisheries, aquaculture, ecotourism, health, education, and blue forest..
Tahiry Honko Carbon Project
Under the Blue Forest initiative, BV launched the ambitious and innovative Tahiry Honko (meaning preserving mangroves in local Vezo dialect), the world’s largest mangrove carbon conservation project in the Bay of Assassins, southwest Madagascar..
Addressing the Conservation Connundrum by Making Marine Conservation Make Sense
Initiatives like Tahiry Honko were saleable solutions to a global problem as unprecedented challenges faced small-scale fisheries and marine biodiversity More than 1.4 billion people, mostly in developing countries, lived in communities bordering tropical seas and this coastal population was expected to grow by 45% to 1.95 billion people by 2050 ..
Exhibits
Exhibit I: Blue Ventures Values
Exhibit II: Blue Ventures Partners
Exhibit III: Blue Ventures Financials
Exhibit IV: Mangrove Forest in the Bay of Assassins
Exhibit V: The Formal Inauguration of the Tahiry Honko Project
Exhibit VI: Blue Venture’s Blue Carbon Project Research Initiative
Exhibit VII: Building Community Capacity for Sustainable Mangrove Management
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