Member Type Supported Initiatives
The Global Fund for Coral Reefs (GFCR)
Alongside the 75th Session of the UN General Assembly, the Global Fund for Coral Reefs (GFCR) was launched by a coalition of public and private partners with the ambition to mobilise USD $625 million for coral reef conservation over the next 10 years. The public-private partnership is driven by private foundations, Member States, UN agencies and private sector impact investors, including the: Government of Germany, UK Government, Paul G. Allen Family Foundation, Prince Albert II of Monaco Foundation, BNP Paribas, United Nations Development Programme (UNDP), United Nations Environment Programme (UNEP), and UN Capital Development Fund (UNCDF).
The GFCR is the first UN fund dedicated to SDG 14, ‘Life Below Water’ and the only global blended finance instrument dedicated to coral reefs. The Fund’s blended finance approach leverages grants to unlock private sector investment in the blue economy, incubate investable projects and scale up coral reef conservation. Under a guiding Theory of Change and Investment Plan, the GFCR’s Grant and Investment Window jointly sequence and layer ecosystem-based solutions addressing indirect and direct drivers of degradation (e.g. overfishing, unsustainable coastal development, destructive fishing, pollution, boat anchoring, etc.).
The current ICRI Chair, the United States of America, current holds the position of co-chair to the advisory board for the GFCR. To act in this capacity, the Chair of the ICRI Secretariat nominated Jennifer Koss, Director, NOAA Coral Reef Conservation Program alongside Christine Dawson, Director, Office of Conservation and Water, Bureau of Oceans and International Environmental and Scientific Affairs, U.S Department of State.
ICRI strongly supports the value and approach of the GFCR, following the adoption of a resolution in December 2019 at the 34th ICRI General Meeting, Australia. ICRI believes that through blended finance and innovative public-private partnership, the GFCR will catalyse a sustainable financial ecosystem for conservation and development of coral reefs.
Last Updated: 16 December 2022