The Australian Government Promises $1 Billion Dollars for Coral Reefs

The Australian government has announced it has will pledge $1 billion dollars to protect the Great Barrier Reef, over the next ten years. The Reef Fund money will be used to invest in clean energy projects, especially those which reduce agriculture run-off and protect coral reefs.
The Fund will be managed by the Clean Energy Finance Corporation and the government expects the money will also help bring economic benefits to the Queensland area by creating jobs and farm production. Currently it is estimated that the Great Barrier Reef supports as many as 70,000 jobs.
“Climate change is the greatest long-term threat to the Great Barrier Reef and to all coral reefs around the world,” Mr Turnbull said at a Queensland news conference on Monday. “Australians are passionate about the Great Barrier Reef and the Turnbull government is committed to protecting it for future generations.”

An undated photo shows a flood plume from the Maria Creek heading towards the Great Barrier Reef off Australia's northeastern coast as the Australian government unveiled plans 03 December 2003, to make the Great Barrier Reef the most protected coral reef system on earth. The Zoning Plan for the Great Barrier Reef Marine Park puts a third of the giant coral network off limits to commercial fisherman and tightens restrictions on shipping through the delicate ecosystem. Conservationists have welcomed the move, but warned that the threats to the reef from climate change and land-based pollution still need to be addressed. AFP PHOTO (Photo credit should read STR/AFP/Getty Images) — An undated photo shows a flood plume from the Maria Creek heading towards the Great Barrier Reef off Australia’s northeastern coast. Photo credit: STR/AFP/Getty Images

The government believes that one of the key ways to improve the resilience of the reef to climate change, bleaching events and crown-of-thorns starfish outbreaks is to focus on improving water quality. The money allocated to the reef fund will seek to do this by supporting projects that reduce run-off of pollutants, fertiliser and sediment.
“Such projects could include the wide-scale installation of more energy and water-efficient irrigation systems on agricultural land Turnbull said.” Other projects could support more energy efficient pesticide sprayers and fertiliser application systems.
The fund will also help coastal sewage treatment plants reduce ocean outfalls with more efficient pumps, biogas electricity generation and next generation waste-water treatment. The fund will also tackle climate change directly by supporting projects that could include solar panels for farms to reduce the use of diesel, more energy efficient equipment and vehicles and large-scale renewable energy projects such as solar farms in regional Queensland.