The International Coral Reef Initiative (ICRI), a network including 45 countries that represent over 75% of the world’s coral reefs, has launched the Coral Reef Breakthrough in partnership with the Global Fund for Coral Reefs (GFCR) and the High-Level Climate Champions (HLCC).
The Coral Reef Breakthrough aims to secure the future of at least 125,000 km2/ 48,263 square miles of shallow-water tropical coral reefs with investments of at least US$12 billion to support the resilience of more than half a billion people globally by 2030.
In addition to broad-based climate action, the Coral Reef Breakthrough aims are also to stop drivers of loss, double the area of coral reefs under protection, and accelerate restoration.
25% of Marine Species
The Breakthrough was launched through the ICRI 37th General Meeting and developed with support from the Government of Sweden and the Principality of Monaco. Coral reefs exist in more than 100 countries and territories, and support at least 25% of marine species; they are integral to sustaining Earth’s vast and interconnected web of marine biodiversity and provide ecosystem services valued up to $9.9 trillion annually, according to ICRI.
ICRI says The Coral Reef Breakthrough is grounded on science-based, measurable, and achievable goals for state and non-state actors to collectively conserve, protect, and restore coral reefs at the scale that is needed to secure the future of these vital ecosystems and their critical contributions to humanity.
Setting the first global targets for coral reefs, the Breakthrough will be realized by catalyzing public and private financial flows and supporting sustainable conservation investments.
These will activate and enhance proven solutions and mobilize aligned actions to achieve the Sharm-El Sheikh Adaptation Agenda’s Ocean and Coastal Impact System targets and the Kunming-Montreal Global Biodiversity Framework (GBF), adopted at the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity.