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IN
FIGURES

■ 1 billion people depend on coral
reefs for their food, protecting
their coastline, cultural practices
and earnings. (sources : MIT)

■ $375 billion
Estimated annual value
of resources and services
offered by coral reefs

■ The GFCR aims to invest $500
million in coral reef conservation
over the next 10 years

- MAP OF CLIMATE CHANGE RESILIENT REEFS -

INNOVATION
A global coral

protection fund

The Global Fund for Coral Reefs, a new paradigm to protect an ecosystem
on the brink of extinction.

The meeting dedicated to the Global Fund for Co-
ral Reefs during Monaco Ocean Week reflected the
unifying nature of this unique initiative. Orchestrated
by the head of the UNDP’s coral reef conservation
programme (Penny Stock), declarations by represen- PROFILE
tatives of governments, United Nations agencies, uni-
versities, NGOs and civil society were all underpinned
by two conclusions: the urgent need for action, The GFCR is a multi-stakeholder initiative which includes
and the funding shortfall for coral reefs. Combining the following partners:
conservation and the blue economy, encouraging ■ philanthropic organisations (Prince Albert II of Monaco
public funding and private investment and applied Foundation and Paul G. Allen Family Foundation)
at a local and global level, this Fund offers a unique ■ financial institutions (BNP Paribas and Mirova)
and particularly promising response in the context of ■ United Nations agencies (UNDP, UNEP, UNCDF)
major changes. It is the first common United Nations ■ development partners (Germany, UK, France) and national
fund dedicated to Sustainable Development Goal 14 organisations
(Life Below Water), which is particularly underfunded.
The German Federal Foreign Office, the Prince Albert II of
Monaco Foundation and the Paul G. Allen Family Foundation
were early contributors to the Fund, which is managed by the
United Nations Multi-Partner Trust Fund Office.