Community-based seaweed organization MARI Oceans has entered into a funding partnership with leading impact investors Deliberate capital and the Swiss Re Foundationto improve current seaweed farming practices in Indonesia.
Seaweed production in Indonesia currently accounts for around 40% of the national fishery production and is a source of employment for over 267,000 households. Many people engaged in primary production are former artisanal fishers or small local traders who have turned to seaweed farming as their main source of income.
However, systemic challenges exist across the sector, underpinned by a fractured and inequitable value chain, with many farmers remaining at or below the poverty line due to highly volatile output prices and a limited access to finance.
HUSBAND Oceans tackles these challenges and risks by optimizing production to rebalance the fragmented value chain and unlock the potential of algae as a vehicle for social change, climate risk mitigation and food security.
The funding partnership will help accelerate a range of developments including improved practices and governance – working to reinvigorate and transform the Indonesian seaweed supply chain into a formalized sector that works for everyone.
“MARI Oceans strongly believes in the opportunity that seaweed farming represents to significantly create better livelihoods for farmers across Indonesia. Our partnership with Deliberate Capital and the Swiss Re Foundation is a tremendous sign of trust that industry leaders place in us as we create sustainable seaweed value chains that put farmers at the heart of our operations,” said Dodon Yamin, Managing Director of MARI Oceans, in a press release. .
Veronica Yow, ESG and Impact Manager at Deliberate Capital, notes MARI’s commitment to growing the seaweed community in Indonesia.
“The MARI Oceans model is comprehensive and inclusive, taking into account the needs of farmers to ensure seaweed becomes a sustainable livelihood that benefits people and the environment. model,” she said.
“In the area of coastal resilience, the Swiss Re Foundation aims to support nature-based solutions that focus on the protection, restoration and management of natural and modified ecosystems and have the capacity to impact people and the environment, to drive sustainability from a revenue-generating business model and a robust approach to scaling, all the elements come together with MARI Oceans,” added sh.
“MARI’s approach to seaweed farming is data-driven, rooted in smallholder farmer ownership, and has the appropriate governance mechanisms to ensure commercial revenues, scale-up, and equitable redistributions. . It will set a blueprint for an entire industry, illustrating the power of entrepreneurial solutions for ocean resilience,” explains Stefan Huber Fux, Director of the Swiss Re Foundation.
With its first round of funding, MARI Oceans seeks to be the leading agricultural organization in Indonesia, setting a standard for sustainability in ocean agriculture and community enterprises.