• The International Coral Reef Initiative (ICRI) 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 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 will be achieved through-
  • Stop drivers of loss: Mitigate local drivers of loss including land-based sources of pollution, destructive coastal development, and overfishing.
  • Double the area of coral reefs under effective protection: Bolster resilience-based coral reef conservation efforts by aligning with and transcending global coastal protection targets including 30by30.
  • Accelerate Restoration: Assist the development and implementation of innovative solutions at scale and climate smart designs that support coral adaptation to impact 30% of degraded reefs by 2030.
  • Secure investments of at least USD 12 billion by 2030 from public and private sources to conserve and restore these crucial ecosystems.

ABOUT ICRI 

• The International Coral Reef Initiative (ICRI) is an informal partnership between Nations and organizations which strives to preserve coral reefs and related ecosystems around the world.
• The Initiative was founded in 1994 by eight governments: Australia, France, Japan, Jamaica, the Philippines, Sweden, the United Kingdom, and the United States of America.
• It is a network of 101 members including 45 countries that represent over 75% of the world’s coral reefs.
• Its decisions are not binding on its members.