JLL, Brightwater, and Belize Debut Groundbreaking Blue Carbon Initiative for 2026

CHICAGO, Oct. 21, 2025 – JLL (NYSE: JLL) today announced it is partnering with Brightwater, a company that customizes climate-impact investments to enhance the health of coastal ecosystems and bolster the economies of coastal communities, and the Government of Belize, to develop a significant nature-based carbon removal project at the Turneffe Atoll, Belize. This unique public-private collaboration is projected to generate 500,000 metric tonnes of high-quality blue carbon credits through the conservation and restoration of local mangrove ecosystems, offering a compelling investment solution for companies seeking to achieve net-zero and nature-positive goals while also bolstering the local economy and offering tangible community benefits.

Through this partnership, JLL has provided leadership in investor selection, negotiations and project documentation to complement Brightwater’s expertise in preserving and protecting coastal ecosystems. Brightwater is also supported by several international technical advisors in the science, engineering and carbon verification and registration space. A feasibility study provided a promising outlook for this project and its ability to not only protect regional biodiversity but also establish a scalable framework for future blue carbon initiatives across Belize.

"JLL is proud to partner with Brightwater and the Government of Belize on this transformative initiative that connects meaningful investment with blue carbon ecosystem preservation," said John Musgjerd, Senior Managing Director at JLL. "Through this collaboration, we can accelerate sustainable economic growth that benefits both investors and local communities while advancing global climate goals."

Located 20 miles off the coast of Belize City, the Turneffe Atoll is the largest coral atoll in the Mesoamerican Reef and the largest marine reserve in Belize. Encompassing nearly 16,000 acres of mangrove forest, more than 89,000 acres of seagrass beds, and 10,000 acres of coral reef, the atoll holds substantial concentrations of valuable blue carbon, making it an ideal location for the partnership’s efforts.

Blue carbon credits are specifically related to projects that protect or restore coastal ecosystems like mangroves, seagrass beds and salt marshes. Enhancing these ecosystems is crucial to mitigating the impacts of climate change due to their ability to store large quantities of carbon. Blue carbon ecosystems are among the most efficient carbon sinks on Earth, sequestering carbon at rates up to 10x higher than tropical forests, according to the National Oceanic and Atmospheric Administration. Distinguished by their premium nature, high-quality blue carbon credits offer a superior option for businesses, investors and other entities seeking to enhance their sustainability efforts. Unlike many standard carbon offsets, these high-quality blue carbon credits will deliver strong climate mitigation and adaptation outcomes while enhancing biodiversity, engaging the community, and ensuring equitable benefit-sharing.

This partnership with JLL and Brightwater represents a bold step forward in Belize’s blue carbon journey,” said Beverly Wade, CEO in the Ministry of Blue Economy and Marine Conservation. “It reflects our government’s deep commitment to conservation and builds on our efforts to unlock the economic and social value of our coastal and marine ecosystems. Most importantly, it ensures that these vital natural resources are protected for the benefit of current and future generations.”

“This [initiative] builds on Belize’s trailblazing leadership in nature-based financing and sets a compelling example for the region and beyond,” said Hon. Christopher Coye, Senator of State in the Ministry of Finance for Belize. “Through this innovative blue carbon effort, Belize is demonstrating how protecting marine and coastal ecosystems can directly support national development by generating meaningful revenue through carbon-based financing.”

In addition to driving sustainable development in Belize, the project proceeds will bring significant benefits to the local community, including job creation in conservation, eco-tourism and sustainable resource management. Furthermore, the project will leverage the natural protective power of mangroves to safeguard food security, stabilize coastlines, and shield coastal communities against sea-level rise, storms, and coastal erosion.

"High-quality blue carbon projects provide an opportunity to further strengthen the protection of these vital ecosystems while delivering benefits to the people who depend on them,” said Jessie Stenftenagel, CEO of Brightwater. “By combining global expertise with local knowledge and leadership, we are co-creating a replicable blueprint and scalable model for community-centered blue carbon projects.”

Learn more about the Turneffe Atoll project.