On November 22nd, the International Coral Reef Initiative (ICRI) released a report on the current state of coral reef restoration funding globally.
Francis co-authored the report alongside Dr Margaux Hein, and with support from Tom, that gives novel insights into the global outlook of coral reef restoration funding. It is also the first to look at what funds are needed for future coral restoration and where they should be allocated.
The report looks at coral reef restoration efforts in the last 10-15 years and was generated through the consultation of 61 funders and 137 coral reef restoration managers and practitioners.
- US$258 million has been invested in the last decade, which is encouraging but still a small fraction of the US 1.9 billion reported for coral reef and associated ecosystems between 2010 and 2016 in the Coral Reef Economy report (of which Francis was a member of the advisory committee)
- Coral reef restoration funding has been dominated by government grants and investments from the private sector
- Funding varies across regions, highlighting disparities between developed and less developed nations
- Funding usually comes in the form of short-term grants, which can be inadequate to support long-term coral reef restoration efforts
Based on these findings, a set of six recommendations are drawn to guide future investments that focus on sustainable financing, short- and long-term goals and capacity building.
Blue Pangolin Consulting’s contribution to this report was facilitated through Francis and Tom’s role in supporting the ICRI Secretariat.
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