The Fund holds an economic interest in carbon credits generated by BlueMX, a blue carbon project in Mexico. The project is expected to begin generating credits in 2026.
Members of the Carbon Growth Partners team were in Veracruz, Mexico in July with the local implementation partner visiting four ejidos (communal land ownership organisations) that are working to restore their degraded mangroves and wetlands in one of the most unique inland river deltas in the Caribbean. While other parts of the BlueMX project are further advanced in the implementation phase, Veracruz has enormous potential, both human and natural, to scale up in hectares over the next few years. BlueMX continues to make tangible strides toward credit issuance despite delays in VERRA methodology changes and broader challenges in the voluntary carbon market.
Project Progress & Milestones
BlueMX has now conserved over 100,000 hectares of mangrove and wetland ecosystems and restored 45 kilometres of tidal channels through community-based ecological restoration across 5 provinces.
These activities primarily focus on re-establishing hydrological flows—improving salinity, sediment balance and natural regeneration rates—rather than relying solely on hand planting of mangroves.
Social & Biodiversity Impact
The project directly benefits local communities. In the previous 12 months:
- 300+ people were newly enrolled in social security programs
- 226 patients were treated through mobile health clinics
- 600+ species were documented within the project area, over 100 of which are threatened
Through workshops, jobs and education programs, BlueMX is building both ecological and community resilience.
Carbon Issuance Outlook
Following delays due to evolving REDD+, restoration and mangrove carbon accounting methodologies at Verra, BlueMX expects to complete the first project design document for Nayarit province, complete validation/verification and begin credit issuance in 2026.
Following this, pending clarity around methodologies, additional sites will come online later in 2026 and 2027. The first sale will likely be via public auction, ensuring price transparency and equitable benefit sharing.
Capital Deployment
Nearly 90% of funds invested to date have gone directly to people and institutions in Mexico, a powerful endorsement of the project’s local-first model. Restoration work is performed by ejido members themselves, aligning community incentives with long-term carbon outcomes.
We remain confident in BlueMX’s value as a long-duration, high-integrity carbon project with strong co-benefits—and thank you for supporting this critical investment in climate, nature and livelihoods.