The Bank of America (BofA) Charitable Foundation and TNC have worked together for decades to advance market-based solutions to the twin climate and biodiversity crises. We have shown that with the right science, relationships, and policy, we can achieve large-scale conservation with innovative financing structures.
To date, TNC’s collaboration with the Bank of America Charitable Foundation has generated several innovative market-based conservation and climate solutions. Together, we helped establish the processes and technical capacity to most effectively and equitably deploy $50 million in conservation funding from the Barbados Blue Bond transaction. The Foundation backed TNC’s work to develop and launch a reef insurance product aimed at rebuilding coral reefs after storms. That model was then deployed and scaled with support from BofA, leading to the launch of the world’s first reef insurance product in Mexico before it was expanded more broadly across the Mesoamerican Reef and later in Hawai‘i, marking the launch of the first such insurance policy in the U.S.
Further support from the Foundation includes TNC’s Resilient Islands initiative in the Caribbean, which helps vulnerable coastal communities—and the mangroves and reefs that protect them from flooding—remain healthy and resilient in the face of increasingly severe storms.
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World’s First Coral Reef Insurance Policy Triggered by Hurricane Delta
The almost $800K payout from the policy will fund the repair of a stretch of reef and beach along the Mesoamerican Reef in Quintana Roo, Mexico.
An Audacious Plan to Save the World’s Ocean
TNC’s Blue Bonds for Conservation model helps governments unlock funding for conservation goals—and benefit millions of people in coastal regions.
Insuring Nature to Ensure a Resilient Future
Integrated solutions linking nature and insurance can help to reduce risk and build resilience to the impacts of climate change.