GFCR CBD COP16 Engagement
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.
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 aim to:
– Present 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;
– Showcase market-based solutions from GFCR’s global portfolio spanning wastewater treatment, ecotourism, sustainable infrastructure, and responsible fishing and aquaculture, among others;
– Present 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.
The detailed agenda for GFCR at COP16, including key dates, events, and engagements, will be updated on this webpage as information becomes available.
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:
As the fourth mass global bleaching event affects more than 75% of coral reefs globally, an Emergency Special Session on Coral Reefs will be 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 will feature representatives of coral states, leaders in coral reef action, and renowned scientists. We will present the latest scientific analysis, deliver clear action points, and outline critical paths for scaling up conservation efforts. The event will take 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 is open to Blue Zone Participants. Register here: Link.
Seaflower Biosphere Reserve Event & Reception
Date: 21 October 2024
Time: 18:00-21:00 COT
This event and strategic convening will highlight 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 will emphasise the importance of protecting the Colombian archipelago and its unique biodiversity. Speakers, including local leaders and investors, will discuss 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.
Please note, in-person attendance at this event is by invitation only.
22 OCTOBER
Three Decades of Coral Reef Research and Monitoring for Ecosystem Adaptative Management
Date: 22 October 2024
Time: 10:00-11:00 COT
Location: ICRI Pavilion
The event will focus on sharing over three decades of research and monitoring experiences related to coral reefs in Colombia. Key topics will include the current state of local coral reefs, the threats they face, monitoring protocols used, and future perspectives for effective ecosystem management. The panel offers 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 will contribute a comprehensive and collaborative perspective to promote adaptive management of coral reefs at national, regional, and global levels.
This event is open to Blue Zone participants.
Safeguarding Climate-Resilient Coral Reefs GBF Target 3 & Beyond
Date: 24 October 2024
Time: 11:00-13:00 COT
Location: For #CoralPavilion
Through case studies from the Philippines, Mozambique, Fiji, and Papua New Guinea, the event will explore national implementation of GBF targets, with a focus on protecting coral reef refugia in the context of 30×30. Discussions will address key mechanisms like biodiversity planning, monitoring, resource mobilisation, and mainstreaming biodiversity across sectors.
This event is open to Blue Zone participants.
African Development Bank’s Plans for supporting implementation of the KMGBF in Africa
Date: 24 October 2024
Time: 10:10 – 11:30 COT
This side event will discuss the Bank’s KMGBF agenda for Africa, share 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.
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 aims to address the $700 billion annual funding shortfall needed to meet the 2030 targets of the Global Biodiversity Framework (GBF). It emphasizes 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 is 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 will dive into the critical role of market-based solutions in driving nature-positive outcomes. The session will spotlight a series of blended finance case studies from the Philippines, Tanzania, Indonesia, Mexico and Belize, to illustrate investment strategies that integrate diverse capital sources to enhance both ecological and coastal community resilience. Presented investment solutions will include financial mechanisms for protected areas and nature-positive businesses. Expert-led dialogue will exchange lessons learned, challenges, opportunities for scale and best practices.
This event is open to Blue Zone participants.
Blended Finance Innovation for LAC Reef Conservation
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 will co-host a panel discussion to highlight coral reef resilience-based strategies spanning Latin America and the Caribbean. The event will include an introduction to GFCR’s innovative blended finance to enhancing the resilience of coastal communities and ecosystems and outline focus regional impact priorities. Implementing partner will present 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 is open to Blue Zone participants.
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, will unveil 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 will highlight 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 will also provide a unique opportunity for networking and offer a first look at the potential for scaling up the facility.
This event is open to Blue Zone participants.
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 will emphasise 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.
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 will spotlight powerful collaborations across international frameworks related to marine biodiversity, uncovering new opportunities to strengthen cooperation, alignment, and policy coherence. It will stress 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 will also explore 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 is open to Blue Zone participants.
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 explores global strategies for collaborative reef monitoring and reporting, as well as data-driven impactful conservation actions. The event will also feature 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 is open to Blue Zone participants.
Enabling Nature Markets for Coral Reef Conservation
Date: 28 October 2024
Time: 13:00-14:10 COT
The event will explore 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.
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 will present 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.
Please note, in-person attendance at this event is 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 will emphasise the urgent need for the acceleration of resilience-based strategies to protect coral reef ecosystems. Amidst the 4th mass bleaching, the event will encompass 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 will also feature 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 will aim to facilitate collaboration among key stakeholders for coral action.
Please note, in-person attendance at this event is by invitation only. The main event segments from 15:00-16:00 will be live-streamed for the global audience. Livestream link to be added upon receipt.
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 will provide 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.
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 brings together young changemakers from across the globe to enhance the resilience of coral reefs. Through stories, interactive dialogue, and action-driven presentations, the convening aims to inspire youth action by connecting grassroots efforts with scientific expertise. It seeks 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 will gain strategies, connections, and resources to drive coral reef conservation in their communities and global advocacy efforts.
South-South and North Collaboration Practical Examples of Achieving the GBF Success across the Global South and the High-Level Policy Implications
Date: 30 October 2024
Time: 10:00-13:00 COT
Location: MBD Pavilion
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 will showcase 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 will address 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 is open to Blue Zone participants.
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 will showcase 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 will also showcase the Coral Reef Rescue Initiative’s (CRRI) successful practices by highlighting efforts in Fiji and Indonesia. The agenda also features 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 is open to Blue Zone participants.
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About the Global Fund for Coral Reefs
As an implementation vehicle for the Global Biodiversity Framework (GBF) and Sustainable Development Goal 14, Life Below Water, the Global Fund for Coral Reefs (GFCR) Coalition 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. Hosting both a Grant Fund and an Investment Fund, the GFCR resilience-focused portfolio includes market-based solutions spanning 23 countries, including waste treatment and recycling, coral reef insurance, sustainable aquaculture and agriculture, ecotourism, blue carbon credits, and mechanisms for sustainable Marine Protected Area (MPAs) finance.
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 the sustainable financing of 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 50 Member States, UN Agencies, financial institutions, philanthropies, impact investors, and conservation organisations. The GFCR Coalition includes 23 coral nations, the Builders Initiative; Bloomberg Philanthropies; Prince Albert II Monaco Foundation; Minderoo Foundation; Paul G. Allen Family Foundation; the Governments of United Kingdom, France, Germany, Canada, and the United States; the Green Climate Fund; Pegasus Capital Advisors; ICONIQ Impact Ocean Co-Lab; the International Coral Reef Initiative (ICRI), the United Nations Development Programme (UNDP); the United Nations Capital Development Fund (UNCDF); the United Nations Environment Programme (UNEP); the International Union for Conservation of Nature (IUCN); the Ocean Risk and Resilience Action Alliance (ORRAA) and the Coral Research & Development Accelerator Platform (CORDAP).