ORRAA and the Global Fund for Coral Reefs (GFCR) have formed an Institutional Partnership to collaborate on financing and implementing projects that advance coral reef conservation and coastal resilience.
The GFCR has been established to facilitate the uptake of innovative financing mechanisms focused on coral reef conservation and restoration, and to unlock financing for coral reef-related to climate adaptation.
Through the partnership, ORRAA will work with the GFCR on leveraging public and private finance to support vulnerable communities through investment in natural capital. We will also join efforts on conducting research to better analyse, predict and manage ocean risk; share knowledge on coral reef science, conservation, restoration, reef-positive livelihood opportunities and innovative finance; and advance the global narrative on ocean risk and on building coastal resilience as part of the global policy agenda.
Karen Sack, co-chair of ORRAA said: ‘Coral reefs are incredibly valuable in reducing the impact of extreme weather events, and play a crucial role in the lives and livelihoods of many of the coastal communities most exposed to ocean risk. Yet coral reefs are amongst the most threatened ecosystems on the planet and are in rapid decline. We look forward to working with the GFCR on scaling and accelerating action and investment to protect this precious natural capital.’