Emergency equipment beginning to look festive at sea (4,4)

I believe the answer is:

life vest

I'm a little stuck... Click here to teach me more about this clue!

'emergency equipment' is the definition.
'life vest' can be an answer for 'equipment' (life vest is a kind of equipment). I'm not sure about the 'emergency' bit.

'beginning to look festive at sea' is the wordplay.
'beginning to' says to take the initial letters.
'at sea' indicates anagramming the letters.
The initial letter of 'look' is 'l'.
'festive' anagrammed gives 'ifevest'.
'l'+'ifevest'='LIFE VEST'

Can you help me to learn more?

I've seen this clue in The Independent.

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