Aug 22, 2024

GFCR CBD COP16 Engagement

GFCR’s COP16 priorities encompass:

Driving Awareness for the Coral Reef Crisis & Presenting Actionable Resilience Strategies

With coral reefs increasingly threatened by human impacts, including climate change and pollution, it is crucial to implement strategies that address local threats and build long-term resilience. The GFCR is dedicated to strengthening global coral resilience efforts by mobilising new public and private resources. This commitment focuses on supporting sustainable businesses and financial solutions for coastal reef ecosystems, communities, and economies.

At the conference, GFCR Coalition members:

Presented integrated ecosystem approaches that holistically address local drivers of reef degradation, unlock sustainable conservation funding flows, and enhance adaptive capacities in areas such as food security, coastal protection, and livelihoods;
Showcased market-based solutions from GFCR's global portfolio spanning wastewater treatment, ecotourism, sustainable infrastructure, and responsible fishing and aquaculture, among others;
Presented investment opportunities that aim to increase resilience for coral reefs, associated ecosystems, and climate-vulnerable coastal communities, showcasing initiatives that can make a positive impact on reef protection, expansion, and restoration efforts.

Mobilising Greater Funding for Coral Reef Action

The coral reef funding gap remains an immense barrier to scaling of coral conservation action globally. In 2023, the Coral Reef Breakthrough launched establishing the first-ever financial and implementation targets for coral ecosystems, in alignment with the GBF.

The Coral Reef Breakthrough aims to secure the future of at least 125,000 km2 of shallow-water tropical coral reefs with an investment of at least $12 billion USD to support the resilience of more than half a billion people globally by 2030. GFCR is positioned as a lead implementer of the Coral Reef Breakthrough, aiming to catalyse up to $3 billion USD USD by 2030 to conserve 3 million hectares of coral reefs - representing 25% of the total Breakthrough target.

To reach its 2030 targets, and to bolster global efforts to thwart coral reef collapse, GFCR will utilise COP16 as a critical forum to mobilise public and private leaders to commit to coral reef action. Through strategic engagements and events, GFCR will hold sessions with representatives of states, philanthropies, corporates, financial institutions, and other potential funders to emphasise the urgent need for commitments.

Demonstrating Nature-Positive Finance

With the global emphasis on scaling up financial support for biodiversity, there is a critical need to demonstrate how private investments can be mobilised and targeted for nature-positive outcomes. There is a growing demand for concrete examples of financial mechanisms that align with the GBF, driving systemic change and mitigating the ongoing degradation of ecosystems.

As a recognised implementation initiative of the GBF and 2030 Agenda, GFCR will be presented at COP16 as a premiere demonstration initiative for nature-positive finance. Throughout the forum, GFCR will contribute to the discussion as well as provide concrete case studies and lessons learned, regarding:

Direct private investment flows to nature-positive outcomes, including through pooled investment vehicles at local and global levels, as well as through nature-positive businesses and transitioning of economies to protect ecosystem function;
Innovative sources of funding including via debt conversion, bonds, parametric insurance, conservation trust funds, biodiversity and carbon credit schemes; and
Catalytic use of grant funding through blended finance approaches, including de-risking, guarantees, and various other forms of concessional capital.

Priority event engagements are detailed below:

COP16 Emergency Session on Coral Reefs

As the fourth mass global bleaching event affects more than 75% of coral reefs globally, an Emergency Special Session on Coral Reefs was held within the margins of COP16. Convened by H.E. Ambassador Peter Thomson, the UN Secretary General’s Special Envoy for the Ocean, the International Coral Reef Initiative (ICRI) and the Global Fund for Coral Reefs (GFCR), this session featured representatives of coral states, leaders in coral reef action, and renowned scientists. GFCR and partners presented the latest scientific analysis, delivered clear action points, and outlined critical paths for scaling up conservation efforts. The event took place in the Large Blue Zone Official COP16 Side Event Room (Subnational & LocaL Governments Room, Plaza One) on 30 October 2024, from 16:30-17:50. This event was open to Blue Zone Participants.

Learn more about this session through these media and online features:

Additional Priority Events

21 October 2024

Ocean Finance at Scale

Date: 21 October 2024
Time: 11:30-12:45 COT
Location: MDB Pavilion, Blue Zone

Ocean finance covers financial activities in marine and ocean industries. Key topics include: (i) Sustainable Ocean Finance: Investments promoting sustainable practices like eco-friendly shipping, renewable energy, and ocean conservation (Sustainable Ocean Plans, GBF); and (ii) Blue Economy Investments: Financial activities supporting sustainable ocean resource use for economic growth, including aquaculture, marine biotechnology, coastal tourism, and marine ecosystem restoration. MDB coordination is crucial for advancing Nature Positive Finance in the Blue Agenda. This event offered a platform for Finance in Common Summit (FICS) Ocean Coalition and experts like World Resources Institute (WRI) and Ocean Risk and Resilience Action Alliance (ORRAA) to share advancements.

This event was open to Blue Zone participants.

Strategies for the environmental and financial sustainability of marine protected areas

Date: 21 October 2024
Time: 11.30-13:00 COT
Location: Pavilion 8 - Conservation International, Blue Zone

This event analysed the most relevant cases of Blue Finance implementation in the Americas, and identified the keys to its development for conservation areas, within the scope of the 2030 goals of the Global Biodiversity Framework; and highlighted the new opportunities from the blue economy and blue finance that arise for the region of the Americas, based on the lessons learned from the actions implemented.

This event was open to Blue Zone participants.

Unlocking Investment for GBF T19c: Blended Finance for Nature with a Landscape Approach

Date: 21 October 2024
Time: 13:00-14:15 COT
Location: Netherlands Pavilion, Blue Zone

The event consisted of a series of concrete, successful case studies showing how cooperation between public actors, private finance and local stakeholders can result in financially sustainable, just and biodiversity-positive outcomes on a landscape level, building on and contributing to targets 10, 11, 14, 15, 18 and 19 of the Global Biodiversity Framework (GBF). The case studies emphasized how blended finance solutions on a landscape scale play a pivotal role in building the business case for both private and public finance, contributing to National Biodiversity Plans, Climate mitigation and adaptation and a socially just transition.

This event was open to Blue Zone participants.

SSN Day Session 3: Understanding and enhancing the role of sustainable financing for PCAs and CCAs

Date: 21 October 2024
Time: 16:00-17:15 COT
Location: MDB Pavilion, Blue Zone

This event focused on addressing the financing gap needed to protect biodiversity, limit climate change to 1.5°C, and achieve land degradation neutrality by 2050, which requires an estimated annual investment of US $674 billion. Despite the crucial role of Community Conserved Areas (CCAs) and Indigenous Peoples and Local Communities (IPLCs) in implementing nature-based solutions, they are often overlooked in climate and nature finance mechanisms. The session explored how sustainable finance can be directed towards CCAs and IPLCs to support the Global Biodiversity Framework (GBF), particularly in relation to Targets 3, 18, and 19. Key financing strategies, including innovative approaches and domestic resource mobilization, were discussed to highlight their role in scaling up conservation efforts.

This event was open to Blue Zone participants.

Seaflower Biosphere Reserve Event & Reception

Date: 21 October 2024
Time: 18:00-21:00 COT

This event and strategic convening highlighted the significance of the Seaflower Biosphere Reserve, focusing on conservation efforts and investments. Hosted by the Government of the United Kingdom, alongside leading partners including GFCR, Blue Action Fund, and Fondo Acción, the session emphasised the importance of protecting the Colombian archipelago and its unique biodiversity. Speakers, including local leaders and investors, discussed the priorities and investment plan of the newly announced Seaflower Fund, including the positioning of blended finance to strengthen the resilience of local reefs and the Raizal community.

Learn more on this Oceanographic Magazine feature: COP16 - Vital funds unlocked for Colombia's Seaflower Reserve

In-person attendance at this event was by invitation only.

22 October 2024

Three Decades of Coral Reef Research and Monitoring for Ecosystem Adaptative Management

Date: 22 October 2024
Time: 10:00-11:00 COT
Location: #ForCoral Pavilion

The event focused on sharing over three decades of research and monitoring experiences related to coral reefs in Colombia. Key topics included the current state of local coral reefs, the threats they face, monitoring protocols used, and future perspectives for effective ecosystem management. The panel offered a valuable opportunity to highlight Colombia’s commitment to coral reef knowledge and conservation, reflected in its participation in global initiatives like the International Coral Reef Initiative (ICRI). Experts from research institutes and academia and representatives from local communities contributed a comprehensive and collaborative perspective to promote adaptive management of coral reefs at national, regional, and global levels.

This event was open to Blue Zone participants.

Watch the event livestream here: https://www.youtube.com/live/4EJLi6S1_0Y?feature=shared&t=2114

24 October 2024

African Development Bank’s Plans for supporting implementation of the KMGBF in Africa

Date: 24 October 2024
Time: 10:10 – 11:30 COT
Location: Sanquianga – GRULAC meeting room, Plaza One

This event discussed the Bank’s KMGBF agenda for Africa, shared ideas on how economic and environmental benefits of the growth of nature-positive actions could lead to improved cooperation among African countries, promote regional integration, provide economic opportunities and diversification, reduce the incentives for involvement in violent groups, and ultimately contribute to enhanced regional stability. Several pieces of the puzzle still need to come together to mainstream nature actions and implement the KMGBF for a harmonious pursuit of development and nature resilience.

Safeguarding Climate-Resilient Coral Reefs GBF Target 3 & Beyond

Date: 24 October 2024
Time: 11:00-13:00 COT
Location: #ForCoral Pavilion

Through case studies from the Philippines, Mozambique, Fiji, and Papua New Guinea, the event explored national implementation of GBF targets, with a focus on protecting coral reef refugia in the context of 30x30. Discussions addressed key mechanisms like biodiversity planning, monitoring, resource mobilisation, and mainstreaming biodiversity across sectors.

This event was open to Blue Zone participants.

Watch the event livestream here: https://www.youtube.com/watch?v=QRY34NeYljc

25 October 2024

Public-Private Dialogue Series on Financing Nature, Development, and NBSAP Delivery

Date: 25 October 2024
Time: Session 2 - 11:30-12:30 COT
Location: Finance & Biodiversity Pavilion, Blue Zone

The event addressed the $700 billion annual funding shortfall needed to meet the 2030 targets of the Global Biodiversity Framework (GBF). It emphasized the importance of public and private finance in bridging this gap, focusing on five key levers: establishing clear policy frameworks to attract private investment, implementing de-risking strategies such as guarantees and incentives, promoting market-based revenue models for nature-positive practices, aligning financial opportunities with biodiversity goals, and creating a unified finance framework for nature-positive investments.

This event was open to Blue Zone participants.

Innovative Blended Finance for Ecosystem Resilience: Case Studies from the Global Fund for Coral Reefs

Date: 25 October 2024
Time: 15:00-16:15 COT
Location: Netherlands Pavilion, Blue Zone

Hosted by the GFCR and UNCDF, in collaboration with implementing partners, the Innovative Blended Finance for Ecosystem Resilience event explored the critical role of market-based solutions in driving nature-positive outcomes. The session spotlighted a series of blended finance case studies from the Philippines, Tanzania, Indonesia, Mexico and Belize, and illustrated investment strategies that integrate diverse capital sources to enhance both ecological and coastal community resilience. Presented investment solutions included financial mechanisms for protected areas and nature-positive businesses. Expert-led dialogue exchanged lessons learned, challenges, opportunities for scale and best practices.

This event was open to Blue Zone participants.

Event key takeaways: https://lnkd.in/g3XHzH_f

26 October 2024

Blended Finance Innovation for Reef Conservation in Latin America & the Caribbean

Date: 26 October 2024
Time: 15:00-17:00 COT
Location: #ForCoral Pavilion, Blue Zone

Alongside key implementing partners including MAR Fund, Fondo Acción, and The Nature Conservancy - the GFCR co-hosted a panel discussion to highlight coral reef resilience-based strategies spanning Latin America and the Caribbean. The event included an introduction to GFCR's innovative blended finance to enhancing the resilience of coastal communities and ecosystems and outline focus regional impact priorities. Implementing partners presented deep dives on how they have established pipelines of reef-positive market-based solutions, enabled incubation and technical assistance, and efforts underway to unlock greater private finance to increase conservation impacts.

This event was open to Blue Zone participants.

Trade Commodities with a Focus on Marine and Other Aquatic Ecosystems

Date: 26 October 2024
Time: 15:00-16:10 COT
Location: GBF Pavilion, Blue Zone

This session explored how trade policies can be leveraged to support the sustainable management of marine resources, ensuring that economic activities related to trade contribute to biodiversity conservation. The discussion emphasised the need for collaboration between governments, the private sector, and international stakeholders to develop and implement policies that support the health of marine ecosystems.

This event was open to Blue Zone participants.

27 October 2024

SIDS4Nature

Date: 27 October 2024
Time: 13:00-14:00 COT
Location: Nature Positive Pavilion (Small Room)

Small Island Developing States (SIDS) face unique challenges in conserving their natural resources and adapting to climate change. Capacity at the island level to mobilise conservation resources, develop projects to expend resources and have an impact at local level is limited. At the same time SIDS stewards geographically large biodiversity and conservation areas while having small technical and policy units and specialists.

Launching the First Impact Loan Facility for Marine Conservation

Date: 27 October 2024
Time: 13:00-14:00 COT
Location: #ForCoral Pavilion, Blue Zone

Blue Alliance and BNP Paribas, together with GFCR, ORRAA, and other partners, unveiled a groundbreaking investment facility aimed at advancing sustainable finance for Marine Protected Areas (MPAs) in the Global South. The facility seeks to transform protected areas and livelihoods through investment in Blue Economy social enterprises. This event highlighted the innovative Impact Loan Facility for MPAs, BNP Paribas’ initial funding commitment, as well as the first cohort of investments in the Blue Economy and MPAs. It also provided a unique opportunity for networking and offered a first look at the potential for scaling up the facility.

This event was open to Blue Zone participants.

Event key takeaways: https://lnkd.in/gVe3QRbs

Watch the event livestream here: https://www.youtube.com/live/CUI8eZjM3iA?feature=shared&t=7498

Advancing the Marine Conservation Breakthroughs: Connecting Global Action to Scale Nature-Based Solutions

Date: 27 October 2024
Time: 15:00-16:30 COT

Hosted by Global Climate Action, this event emphasised the urgent need for the acceleration of global action to protect marine ecosystems by convening a global network of leaders across finance, policy, and science to scale on-the-ground action to catalyse transformative change in marine ecosystem conservation and restoration, building on the goals and ambitious targets of the Marine Conservation Breakthrough.

Watch the event livestream here: https://www.youtube.com/live/53r3DIS40kY?feature=shared&t=386

Synergies and Partnerships for Impact Uniting for the Ocean: Accelerating Action for Biodiversity Goals

Date: 27 October 2024
Time: 16:00-17:30 COT
Location: GBF Pavilion, Blue Zone

This session spotlighted powerful collaborations across international frameworks related to marine biodiversity, uncovering new opportunities to strengthen cooperation, alignment, and policy coherence. It stressed the critical need for well-defined plans and partnerships to fast-track progress toward all GBF targets, with a focus on safeguarding and restoring the ocean's vital ecosystems and the benefits they provide to local communities. The session also explored pathways for integrating marine conservation and sustainable use into national economies, revealing how this can become a key driver of both growth and prosperity.

This event was open to Blue Zone participants.

Read the COP16 Week 1 Wrap-Up here: https://lnkd.in/g38dJ82P

28 October 2024

Coral Reef M&E: Insights for Conservation Impacts

Date: 28 October 2024
Time: 11:00-13:00 COT
Location: #ForCoral Pavilion, Blue Zone

Hosted by Healthy Reefs for Healthy People (HRHP), in partnership with MAR Fund and the GFCR, the event explored global strategies for collaborative reef monitoring and reporting, as well as data-driven impactful conservation actions. The event also featured the launch of the 2024 Mesoamerican Reef Report Card and plans for the 2025 Caribbean Report Card, with insights from the October 2024 Data Analysis Workshop hosted by the GFCR in Puerto Morelos, Mexico.

This event was open to Blue Zone participants.

Enabling Nature Markets for Coral Reef Conservation

Date: 28 October 2024
Time: 13:00-14:10 COT

The event explored innovative financial instruments and market-based approaches to coral reef conservation (including biodiversity credits), with a focus on enabling sustainable long-term outcomes that benefit both nature and local communities.

Watch the event livestream here: https://www.youtube.com/live/o6IeTGtw1x8?feature=shared&t=839

The Nature Investment Facility: Mobilizing resources to reduce the biodiversity funding gap and effectively implement the GBF

Date: 28 October 2024
Time: 13:20-14:40 COT

The event presented the Nature Investment Facility which aims to catalyze private investment in nature-positive outcomes to protect, restore, and sustain at-risk natural World Heritage landscapes, “the world’s most important and significant natural habitats for the conservation of biodiversity.” The Facility will drive investment in nature-positive outcomes to address the drivers of degradation and drive systems-level change in these landscapes by helping businesses shift to nature-positive business models.

In-person attendance at this event was by invitation only.

Forging Coral Reef Resilience: A Now or Never Moment for Action

Date: 28 October 2024
Time: 15:00-17:30 COT

The high-level convening emphasised the urgent need for the acceleration of resilience-based strategies to protect coral reef ecosystems. Amidst the 4th mass bleaching, the event encompassed a high-level strategy session to overview needed actions including ecosystem-based approaches and targeted resilience solutions, as well as concrete steps being taken by states, philanthropies and private sector to scale efforts. A segment of the convening also featured a discussion on the coming 2025 UN Ocean Conference (UNOC) and the significance of coral reefs in its action agenda. Following the main event segments, a networking convening facilitated collaboration among key stakeholders for coral action.

Please note, in-person attendance at this event was by invitation only.

Event key takeaways: https://lnkd.in/gNQduKfd

Watch the event livestream here: https://youtu.be/48udppTeIOI

29 October 2024

Coral Reef Press Conference

Date: 29 October 2024
Time: 13:00-13:30 COT

Led by the GFCR, ICRI, and H.E. Ambassador Peter Thomson, UN Secretary-General's Special Envoy for the Ocean Ambassador, this press conference provided the media representatives present at CBD COP16 with details about the 4th mass GFCR, new commitments from GFCR partners, and relay an invitation to cover the Emergency Special Session on Coral Reefs.

Event key takeaways: https://lnkd.in/gqxqv8vt

Watch the Press Conference here: https://webtv.un.org/en/asset/k1m/k1m6si5o87

The Convening of Youth for the Future of Coral Reefs Press Conference

Date: 29 October 2024
Time: 15:00-16:00 COT
Location: Youth Pavilion

Hosted by the Global Fund for Coral Reefs (GFCR) & International Coral Reef Initiative (ICRI), this event brought together young changemakers from across the globe to enhance the resilience of coral reefs. Through stories, interactive dialogue, and action-driven presentations, the convening aimed to inspire youth action by connecting grassroots efforts with scientific expertise. The event intended to equip young advocates with insights and tools for robust climate action focused on coral reef resilience, raise awareness of the critical role coral reefs play in supporting marine biodiversity, and facilitate collaboration between youth and experts. Participants gained strategies, connections, and resources to drive coral reef conservation in their communities and global advocacy efforts.

30 October 2024

Non-State Actors Advancing Nature-Based Solutions for Biodiversity and Resilience Action

Date: 30 October 2024
Time: 12:00-13:15 COT
Location: Peru Pavilion, Blue Zone

Hosted by the High-Level Climate Champions' (HLCC) Race to Resilience, in partnership with GFCR, Ocean Risk and Resilience Action Alliance (ORRAA), The Nature Conservancy (TNC), One Planet Business for Biodiversity (OP2B), Global Resilience Partnership, Resilience Hub, Water CEO Mandate, and the Global Mangrove Alliance, this event showcased the critical contributions of Race to Resilience Partners in advancing nature-based solutions (NbS) that address climate and biodiversity challenges, focusing on those that enhance the resilience of communities and ecosystems to disasters and climate change. Building on the evidence on the role of nature in delivering biodiversity protection, climate adaptation, and emissions reductions, and how NbS have been traditionally used and continue to be critical to boost socio-economic resilience and sustain local livelihoods. Additionally, the event addressed the need to redirect financial flows from nature-negative to nature-positive activities, emphasising the importance of innovative financial solutions aligned with the Global Biodiversity Framework and the Paris Agreement.

This event was open to Blue Zone participants.

31 October 2024

The Road from Cali to Belém - The Last Stand for Coral Reefs

Date: 31 October 2024
Time: 11:40-13:00 COT

Location: Nuqui - Academia & Research meeting room, Plaza One

The event showcased the biodiversity of coral reefs in Latin America with a focus on Brazil and Colombia, and the urgent action needed to protect these regionally and globally significant reefs. It also highlighted the Coral Reef Rescue Initiative's (CRRI) successful practices by highlighting efforts in Fiji and Indonesia. The agenda also featured presentations on conservation targets, integrated funding approaches, and the importance of the international scenario for raising awareness and funding for coral reef conservation.

This event was open to Blue Zone participants.

About the Global Fund for Coral Reefs

As an implementation vehicle for the Global Biodiversity Framework (GBF) and Sustainable Development Goal 14 (SDG 14), Life Below Water, the Global Fund for Coral Reefs (GFCR) is enhancing the resilience of coastal reef ecosystems, communities, and economies by unlocking new public and private resources that accelerate sustainable businesses and financial solutions. By deploying catalytic grants and investments, the GFCR's resilience-focused portfolio comprises market-based solutions spanning more than 20 developing states, including wastewater treatment and recycling, coral reef insurance, sustainable aquaculture and agriculture, ecotourism, and initiatives enabling sustainable finance for marine protected areas (MPAs).

With capitalisation underway, by 2030, GFCR aims to support over 400 reef-positive businesses and sustainable financial mechanisms; the resilience of over 20 million community members and 3 million hectares of coral reefs (representing 25% of the Coral Reef Breakthrough target and 12.5% of remaining coral reefs on Earth); and sustainable financing flows for 7.5 million hectares of MPAs. GFCR’s investments will aim to leverage $2-3 billion USD in public and private finance for the benefit of marine ecosystems and coastal communities.

The GFCR Coalition is a public-private partnership driven by more than 60 member states, UN agencies, financial institutions, philanthropies, impact investors, and conservation organisations. The GFCR Coalition includes 23 coral nations, the United Nations Capital Development Fund (UNCDF), the United Nations Development Programme (UNDP), the United Nations Environment Programme (UNEP), Builders Initiative, Bloomberg Philanthropies, Prince Albert II Monaco Foundation, UBS Optimus Foundation, the governments of the United Kingdom, New Zealand, France, Germany, Canada, and the United States, the Green Climate Fund, Pegasus Capital Advisors, ICONIQ Impact Ocean Co-Lab, Minderoo Foundation, Paul G. Allen Family Foundation, the International Coral Reef Initiative (ICRI), and more than 20 additional strategic and implementing partners.

The acceleration of extinction and the catastrophic loss of critical ecosystems present unprecedented risks, with projections indicating that up to 1 million animal and plant species could face extinction by 2050. Underscoring the vital role of biodiversity in sustaining global economies, the World Economic Forum's Global Risks Report 2024 finds that environmental risks make up half of the top 10 risks over the next 10 years. In response to this urgent crisis, the Kunming-Montreal Global Biodiversity Framework (GBF) was adopted at the 15th Conference of the Parties to the Convention on Biological Diversity (COP15) in December 2022, marking a global commitment to address these challenges.

Since the closure of COP15, heavy emphasis has been placed on the substantial need to scale up financial support from all sectors, public and private, and align it with the goals and targets of the GBF. Private investment in biodiversity, including economic shifts toward nature-positive, is underscored by all stakeholders as paramount to bridging ongoing conservation funding gaps and preventing the collapse of ecosystem function. As the first Biodiversity COP since the adoption of the GBF, 2024’s COP16 represents a unique opportunity for the world to take action for nature.

With the recent announcement of the fourth mass global coral bleaching event, coral reefs sit high on the agenda of this year’s COP16 priorities. As the leading coral finance instrument, the Global Fund for Coral Reefs (GFCR) aims to protect and enhance the resilience of 3 million hectares of coral reefs by 2030, covering 12.5% of the world’s remaining reefs. GFCR is a recognised implementation vehicle of the GBF, highlighted as a premiere example of an initiative delivering innovative finance for ecosystem resilience.