The International Coral Reef Initiative (ICRI), a network comprising 45 countries representing more than 75% of the world’s coral reefs, has launched the Coral Reef Breakthrough in collaboration with the Global Fund for Coral Reefs (GFCR) and the High-Level Climate Champions (HLCC). The Coral Reef Breakthrough’s primary goal is to ensure the future protection of at least 125,000 square kilometres of shallow-water tropical coral reefs by securing investments of at least US$12 billion. These investments are intended to enhance the resilience of over half a billion people worldwide by the year 2030.
In addition to a broad range of climate-related actions, the Coral Reef Breakthrough will be achieved through the following initiatives:
- Action point 1: Addressing the root causes of coral reef decline by mitigating local factors such as land-based pollution, harmful coastal development, and overfishing.
- Action point 2: Increasing the area of coral reefs under effective protection by supporting efforts focused on coral reef conservation and aligning with global coastal protection targets, including the “30by30” initiative.
- Action point 3: Accelerating restoration efforts by promoting innovative, climate-smart designs that aid in the recovery of 30% of degraded reefs by 2030.
- Action point 4: Securing a minimum of USD 12 billion in investments by 2030 from both public and private sources to conserve and restore these critical ecosystems.
Achieving the Coral Reef Breakthrough is crucial for preventing the functional extinction of one of the world’s most endangered yet highly valuable and biodiverse ecosystems.
This initiative was launched during the 37th General Meeting of ICRI and received support from the Government of Sweden and the Principality of Monaco.
Coral reefs are found in more than 100 countries and territories, providing a habitat for at least 25% of marine species. They play a vital role in sustaining marine biodiversity and offer ecosystem services valued at up to $9.9 trillion annually. More than one billion people, including vulnerable coastal communities, rely on healthy coral reefs for their livelihoods and resilience to climate change. These ecosystems are essential for the security and adaptation of many climate-vulnerable nations. However, the continued existence of these critical ecosystems is threatened by the climate crisis and other human-induced stressors, and time is running out to protect them.
The Coral Reef Breakthrough is built upon scientifically grounded, measurable, and attainable goals for both state and non-state actors to collaborate in conserving, protecting, and restoring coral reefs on the necessary scale to ensure their future and their significant contributions to humanity. By establishing the first global targets for coral reefs, the Breakthrough aims to catalyze financial support from both the public and private sectors and facilitate sustainable conservation investments. This will activate and enhance proven solutions and mobilize coordinated efforts to meet the goals set out in the Sharm-El Sheikh Adaptation Agenda’s Ocean and Coastal Impact System targets and the Kunming-Montreal Global Biodiversity Framework (GBF), adopted during the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity.
The premiere supporters of the Coral Reef Breakthrough will be announced at the coming 2023 United Nations Climate Change Conference (UNFCCC COP28).
Achieving the targets of the Coral Breakthrough will be instrumental in realizing the Sustainable Development Goals (SDGs), particularly SDG14, which focuses on Life Below Water. Conservation, protection, and restoration efforts that cover 50% of the world’s coral reefs could potentially generate over US$18 billion in annual tourism revenues, preserve vital fishing grounds, protect spawning areas for economically important species, and safeguard $5.5 billion worth of coastal economic value through shoreline protection. Securing the future of coral reefs as climate refuges offers hope for long-term recovery and resilience against climate threats in the decades to come.
