The International Coral Reef Initiative (ICRI) in collaboration with the Global Fund for Coral Reefs (GFCR) and the High-Level Climate Champions (HLCC), has announced the launch of the Coral Reef Breakthrough initiative.
Francis Staub, ICRI Global Coordinator says, “The Breakthrough was developed with inputs from a dedicated working group of over 30 lead coral reef experts. This ensures that the ambitious targets were grounded in science, actionable, measurable, and reflect the urgency to address the coral crisis.”
The ICRI is a network including 45 countries that represent over 75 per cent of the world’s coral reefs.
The Breakthrough was launched at the ICRI 37th General Meeting with support from the Government of Sweden and the Principality of Monaco.
Aims to prevent coral reef extinction
The Coral Reef Breakthrough initiative aims to prevent the extinction of coral reefs, one of the world’s most threatened yet biodiverse ecosystems.
It seeks to secure the future of at least 125,000 km2 of shallow-water tropical coral reefs. By doing so, the initiative supports the resilience of over half a billion people globally by 2030.
The initiative outlines specific action points to achieve its goals, in addition to broad-based climate action:
- Stop Drivers of Loss: This involves mitigating local drivers of loss, such as land-based sources of pollution, destructive coastal development, and overfishing. By addressing these factors, the initiative aims to reduce immediate threats to coral reefs.
- Double the Area of Coral Reefs Under Effective Protection: The initiative plans to enhance resilience-based coral reef conservation efforts by aligning with global coastal protection targets, including the ’30by30′ initiative. This aims to protect 30 per cent of the world’s oceans by 2030.
- Accelerate Restoration: The Coral Reef Breakthrough seeks to support the development and implementation of innovative solutions and climate-smart designs. These efforts will assist in coral adaptation and aim to restore 30 per cent of degraded reefs by 2030.
- Secure Investments: To fund these conservation and restoration efforts, the initiative aims to secure investments of at least $12B by 2030 from both public and private sources. These financial resources are essential for implementing the planned actions effectively.
The Coral Reef Breakthrough initiative
Coral reefs, found in over 100 countries, support 25 per cent of marine species and provide ecosystem services valued at up to $9.9T annually. Over a billion people, including vulnerable coastal communities, depend on them.
However, coral reefs are endangered due to the climate crisis and human activities, threatening the security and resilience of many nations. Urgent action is needed to protect these vital ecosystems.
The Coral Reef Breakthrough aims to conserve, protect, and restore coral reefs on a global scale. It sets science-based goals for both state and non-state actors to achieve measurable and achievable results.
This initiative establishes the first global targets for coral reefs and focuses on catalysing public and private financial support.
By aligning actions with international agreements like the Sharm-El Sheikh Adaptation Agenda and the Kunming-Montreal Global Biodiversity Framework, the Breakthrough seeks to secure the future of these essential ecosystems.
H.E Razan Al Mubarak, UN Climate Change High-Level Champion for COP28 says, “Coral reefs are more than just beautiful; they are our lifelines. They are essential to the security and resilience of many nations, especially those in low-lying island states. These are nations staring down the barrel of climate change. The Coral Reef Breakthrough is an initiative for the world, for the hundreds of millions who depend on these coastal communities.”
Ambassador Peter Thomson, UN Secretary-General’s Special Envoy for the Ocean adds, “No healthy Ocean without healthy coral reefs, and the latter are under such threat that their very existence is at stake.”
“Meeting the targets of the Coral Breakthrough will be vital to the safeguarding of coral. Thus, at this testing time for our place on Planet Earth, we are calling on public and private sector leaders to take action to achieve the Coral Breakthrough’s targets and secure the longevity of coral reefs. Support for Coral Reef Breakthrough is support for the well-being of generations to come.”
Meeting the targets of the initiative
Achieving the targets of the Coral Reef Breakthrough is crucial for meeting the Sustainable Development Goals (SDGs), especially SDG14, Life Below Water.
Conserving, protecting, and restoring 50 per cent of the world’s coral reefs could generate over $18B in annual tourism revenues, preserve vital fishing grounds, and safeguard $5.5B in coastal economic value through shoreline protection.
Additionally, securing the future of coral reefs as climate refuges offers hope for lasting recovery and resilience against future climate threats.
Pierre Bardoux, Director of the GFCR, UN Global Team says, “The 2030 Coral Reef Breakthrough will aim to bolster action to save a critical Earth system on the front lines of climate change. We are proud to have the Global Fund for Coral Reefs, a blended finance instrument, identified as a key global financial vehicle for the Breakthrough.”
“To help deliver on Breakthrough targets, GFCR will scale capital support and private investment for reef-positive solutions, including sustainable fisheries and aquaculture, ecotourism, marine plastic recycling, mooring systems, wastewater treatment, natural fertilisers, and coral reef restoration.”
“Efforts such as these represent innovative finance pathways unlocking greater resources to meet the goals of the Coral Reef Breakthrough,” adds Bardoux.
The premiere supporters of the Coral Reef Breakthrough initiative will be revealed at the upcoming 2023 United Nations Climate Change Conference (UNFCCC COP28).