Commitment to Action

Tackling Climate Adaptation through Coral Reef Bonds

Commitment by

Judith Stewart, Chief Executive and Managing Director, Great Barrier Reef Foundation, Great Barrier Reef Foundation

In 2010, the Great Barrier Reef Foundation (GBRF) committed to developing a replicable, user-pays model for structuring a coral reef bond to accelerate the financing, commissioning, and collaborative development of a ground-breaking portfolio of research, adaptation, and engagement projects. This portfolio will identify and test interventions, urgently needed by reefs and their dependent communities, to adapt to imminent climate impacts. Leveraging innovations in finance and applied ecology, this Commitment will, with appropriate government endorsement, create an abiding global legacy of increased reef resilience to climate impacts - as research capacity expands, responses of reef management and policy-makers broaden, and community adaptation readiness grows.

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Overview
Summary

Commitment

Tackling Climate Adaptation through Coral Reef Bonds

Launched

2010

Est. Duration

5 years

Region

Asia, Oceania

Countries

Australia, Indonesia, Malaysia, Philippines, Papua New Guinea, Solomon Islands, Timor-Leste

Commitment by

Judith Stewart, Chief Executive and Managing Director, Great Barrier Reef Foundation, Great Barrier Reef Foundation

Partner(s)

The Goldman Sachs Group, Inc., Qantas Airways Limited, KPMG International, James Cook University, The University of Queensland, WorleyParsons, Telstra Corporation Limited, BHP Billiton Limited, Australian Institute of Marine Science, CSIRO, The Great Barrier Reef Marine Park Authority, Queensland Government, Terrain Natural Resource Management