ORRAA Programme

The Ocean Risk and Resilience Action Alliance (ORRAA) is a multi-sector alliance that aims to drive investment into coastal natural capital through the development of innovative finance solutions. These products will reduce vulnerability and build resilience in the most exposed and vulnerable coastal regions and communities. The UK has committed £13.9 million into ORRAA, delivered in two phases. A successful Phase 1 in 2021-22 provided £1.9m in grant funding, followed by Phase 2 from 2022-2026 with £12m committed in grant funding. The UK’s investment will address 2 challenges faced by coastal communities and the ocean environment: 1) Tackling the impacts of anthropogenic climate change and biodiversity loss. 2) Overcoming barriers that prevent finance flowing into nature-based solutions. The grant awarded to ORRAA will support their aims to drive at least $500 million of investment into coastal and ocean natural capital, and produce at least 50 new, innovative finance products, by 2030. This would positively impact the resilience of 250 million climate vulnerable people in coastal areas worldwide.