As Greece prepares to implement the European Regulation for Nature Restoration, the partners of the ARTEMIS Project met in early March in Crete with representatives of local stakeholder groups to jointly shape an institutional framework and explore alternative financing mechanisms for the restoration of Posidonia.
The Green Tank, in collaboration with the Hellenic Centre for Marine Research (HCMR), convened a workshop titled 'Restoration of Posidonia Meadows: Institutional Framework, Challenges, and Perspectives' at the Heraklion Chamber of Commerce. The workshop was attended by representatives from the Region of Crete, the Natural Environment and Climate Change Agency (NECCA), the Decentralized Administration of Crete, the University of Crete , and other stakeholders, as well as representatives from the consortium driving the ARTEMIS project. The aim of the workshop was to understand the existing institutional framework, identify challenges, and outline the perspectives that arise following the adoption of the Nature Restoration Law, so that, starting with Crete, the foundations for the effective restoration of Posidonia meadows throughout Greece can be laid.
Nikos Xylouris, Deputy Regional Governor for the Environment of the Region of Crete –an entity associated with ARTEMIS– stated in welcoming the participants: 'Given that the great environmental value of Posidonia meadows has been widely recognized in recent years, the Interreg Euro-MED ARTEMIS project is of great importance and interest. The Region of Crete, understanding the enormous environmental relevance of these meadows, has supported this project from the very beginning. We hope that the initiative will provide clear guidelines for restoration, so that we have a tool for the protection and promotion of these areas.
During the session, local stakeholders worked on identifying the necessary steps to shape the new institutional framework. In this regard, Dimitra Syroy, Nature Policy Associate at The Green Tank, stated: 'Nature restoration is a new field of action, and this itself poses a challenge. Leveraging the experience and positive response of the involved stakeholders, we have identified the possible competent authorities or bodies, as well as the stages of implementation and monitoring of restoration actions. In this way, we are one step closer to formulating proposals for a realistic and viable institutional framework for the restoration of Posidonia.”
For her part, Evgenia Apostolaki, Senior Researcher at the Institute of Oceanography of HCMR, emphasized that 'today, we have sufficient knowledge to carry out pilot projects for nature protection and restoration, and we are constantly enriching it. With projects like ARTEMIS, we are working in this direction. What is now needed is to implement policies that reinforce protection, eliminate pressures, and create the institutional framework for active restoration.”
During the workshop, emphasis was placed on alternative financing schemes to promote such actions, such as payments for ecosystem services (PES)—financial incentives to individuals, communities, or organizations to manage ecosystems sustainably. For Posidonia, the ecosystem services considered within the framework of the ARTEMIS project are carbon capture and storage, biodiversity conservation, and the development of recreational and tourism activities. PES aims to assign a tangible monetary value to the benefits provided by marine meadows, which can attract public and private investments that are crucial for implementing sustainable practices and ensuring the long-term management of these valuable ecosystems.
"Through interaction with local stakeholders, we can adapt the financing schemes proposed by the ARTEMIS project for the restoration of Posidonia to the conditions of each area, which will increase their acceptance and effectiveness," emphasized David Álvarez García, Executive Director of Ecoacsa.
"Some topics discussed during the workshop focused on key challenges for implementing PES, including transparency—the need for standardized metrics to report the state of biodiversity; economic benefits—clear financial incentives for nature custodians; and business regulation—aligning corporate objectives with regulatory requirements and verification and monitoring. Other highlighted challenges include natural capital accounting to identify, quantify, and value impacts, which allows integrating the value of natural resources into decision-making. Lastly, business models—long-term financing plans for restoration—also pose a significant challenge. Therefore, the ARTEMIS project seeks to develop innovative techniques to integrate them into policy formulation and investment decisions."
