Commitment to Action

Tackling Climate Adaptation through Coral Reef Bonds

Commitment by

Judith Stewart, 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

6 years

Estimated Total Value

$120,000,000

Region

Oceania, Asia

Countries

Australia, INDONESIA, MALAYSIA, PAPUA NEW GUINEA, PHILIPPINES, SOLOMON ISLANDS, TIMOR-LESTE

Commitment by

Judith Stewart, Great Barrier Reef Foundation

Partner(s) of the Commitment Maker(s)

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