On The Path to Net Zero: Deloitte Funds UK Seagrass Recovery

Climate Impact Partners and Deloitte are collaborating with Project Seagrass and the UK National Oceanography Centre to fund the recovery of seagrass meadows. 

This programme will provide research across the UK, allowing for protection of ecosystems and laying the foundation for future methods of upscaling. 

As of today, companies will be able to finance seagrass recovery much faster and larger than ever before, providing a sustainable and ethical future. 

Why is seagrass so crucial? 

Seagrass restoration has been severely underfunded, almost 30% of the world's seagrass has been destroyed within the last century.

Unbeknownst to most, seagrass is essential for: 

• Carbon sequestering: The capture and storage of carbon from the atmosphere
• Coastline protection
• Nutrition, habitats and camouflage for marine biodiversity

As communication between the scientific community and companies continues to improve, companies are increasingly financially backing projects such as the seagrass restoration.

With funding will come propagation, representing a significant step towards the ultimate goal of net zero. 

The most prevalent impact of seagrass depletion is a loss of marine life, closely followed by the consistency of carbon dioxide in the atmosphere as well as the deterioration of water quality around the world.

The importance of partnership

As one of Europe's 2023 climate leaders, Deloitte is dedicated to supporting the environment and is known for using its influence to catalyse environmental and social impacts across the energy transition, sustainable food systems and nature restoration.

Meanwhile, Climate Impact Partners delivers high quality projects to climate-leading companies in order to help meet its carbon neutral, net zero and renewable energy targets.

Project Seagrass have been committed to seagrass restoration for more than a decade, shown through the two million seagrass seeds that it has planted.  

“We need to protect and restore seagrass whilst supporting the continuation of sustainable human activities that occur amongst or depend directly upon seagrass ecosystems," comments Dr Leanne Cullen-Unsworth, Chief Executive Officer and Charity Co-Founder, Project Seagrass.

“We need to do this now, as a connected global community. This program helps to deliver this.”

With 80 current and past projects in technology, research and education, the National Oceanography Centre is dedicated to the protection of marine ecosystems, not only for the benefit of underwater organisms but also the land ones.

As Dr Claire Evans, Biogeochemist at the UK’s National Oceanography Centre asserts: “Seagrass meadows are the powerhouses of coastal seas providing a nature-based solution to climate change.

“They have been neglected for decades, which has led to their large-scale degradation and loss. This program exemplifies how we can turn that loss into an opportunity for environmental renewal through large-scale restoration.”

The facts

Smruti Naik-Jones, Chief Sustainability Officer of Deloitte UK and North & South Europe explains: “Reaching net zero will require the global economy to decarbonise as part of a connected system. 

“This incredible seagrass program, developed by Climate Impact Partners, enables us to learn more about these marine ecosystems, fund critical research and help unlock a powerful tool in the fight against the climate crisis.”

The Head of Product Innovation at Climate Impact Partners, Kirsty Schneeberger adds: “Deloitte is demonstrating true climate leadership through this program. Seagrass offers a unique opportunity to mitigate climate change while delivering significant co-benefits for biodiversity and coastal communities. 

“Imagine seagrass meadows as underwater vaults – they lock away enormous amounts of carbon for long periods, potentially millennia, as long as they remain healthy and undisturbed.

"We need to ensure they receive long-term and large-scale financing to accelerate the restoration and protection of these underwater wonders.”

With the collaborative work from these four climate-leading companies, the restoration of seagrass is in arms reach. With the Paris Agreement soon approaching, this is a huge sustainable investment for businesses to make in order to reach net zero goals but also show dedication to the fight for clean ecosystems. 

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