The third example is a current grant initiative resulting from the fisheries project. After achieving success in reforming a group of demonstration fisheries, the Foundation observed that recovery of overfished stocks was still slow. One of the reasons is habitat destruction. The Foundation offered support to the Mount Dessert Island Marine Laboratory, in Maine, to expand an effort to restore eel grass beds damaged by dredging for muscles. The beds previously served as nurseries for many species of fin fish and invertebrates. Success with the project has led the Foundation to partner with the Georgia Aquarium, Coral Reef Restoration Foundation and others to restore dying coral reefs in South Florida. The project is focused on developing a payment for ecosystem service program to provide sustainable funding for reef restoration.
1Market-based Environmental Policies, Robert N Stavins, Chapter 3
2 Science, Costello, Gaines & Lynham 19 September 2008: Vol. 321 no. 5896 pp. 1678-1681