Coral Reefs News

Launch of the REEF+ Knowledge and Finance Accelerator

Gabriel Barathieu | Ocean Image Bank

Montréal, New York, 15 November 2022 – Launched during the 15th meeting of the Conference of the Parties (COP15) to the UN Convention on Biological Diversity (CBD) in Montréal, the Global Fund for Coral Reefs (GFCR) REEF+ Accelerator will serve as a convening platform to drive finance and knowledge for bankable coral reef solutions globally. 

Developed by Conservation Finance Alliance (CFA), the United Nations Development Programme (UNDP), and Ubuntoo, REEF+ showcases reef-positive solutions supported through GFCR blended finance programmes as well other replicable enterprises and finance solutions identified globally. Reef+, now in its first phase, already hosts a catalogue of 170 solutions and 60 knowledge posts, all with potential to scale and replicate for significant global impact. 

In subsequent phases, the digital platform will expand its database of enterprises, finance tools, and knowledge products, as well as integrate capacity building, impact tracking, and enhanced connectivity among investors, entrepreneurs, and practitioners.

Chuck Cooper, GFCR Executive Board Chair representing the Paul G. Allen Family Foundation, issued his endorsement of REEF+ during COP15, stating, “GFCR’s REEF+ platform will help catalyze action to achieve the Global Biodiversity Framework goals and targets, and serve as a hub for the coral reef community to share knowledge and best practices, identify proven approaches, and accelerate investments that benefit coral reefs and provide returns for investors.”

Join the REEF+ here.

At COP15, GFCR also announced a new partnership with the Blue Nature Alliance (BNA) to advance sustainable ocean financing. The new GFCR-Alliance areas of collaboration will include:

  • Coordination of efforts and joint programming to conserve and restore coral reef ecosystems
  • Development of ocean-related financial mechanisms
  •  Monitoring and evaluation of jointly prioritised areas
  • Knowledge sharing and strategic advocacy activities

“From providing nursery grounds for important fish and other marine species to helping buffer shorelines—and communities—from storm damage, coral reefs are a crucial part of coastal ecosystems,” said Laure Katz, Blue Nature Alliance Co-Lead. “The Blue Nature Alliance is thrilled to partner with GFCR to protect coral reefs, enhance their resilience to climate change and other threats, and develop innovative ways to fund their ongoing conservation for the benefit of nature and people.”

Both GFCR and Blue Nature Alliance emphasise the urgent need to scale action for climate-resilient coral reef ecosystems, including interventions to reduce local drivers of degradation and strengthen marine protected areas.

Source: GFCR Press Release – December 15, 2022

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