A coalition of government and philanthropic partners has announced over $25 million in new contributions to the Global Fund for Coral Reefs (GFCR) at the United Nations Ocean Conference (UNOC3).
This wave of support—from the Governments of the United Kingdom, New Zealand, France, and Germany, alongside renewed commitments from Builders Vision and UBS Optimus Foundation—comes at moment when the planet’s coral ecosystems face serious danger from warming seas and pollution. And that risk spreads to the more than one billion people who rely on them for food security, livelihoods, and coastal protection.
“Amid declining official development assistance and growing economic pressures, these renewed commitments from Member States and philanthropies are especially significant,” said Pradeep Kurukulasuriya, Executive Secretary of UNCDF, UN’s capital providing fund that serves first and foremost the least developed countries and other vulnerable nations, as set out by the UN General Assembly resolution of 1974. “They show that progress is possible—even in constrained environments.
“The United Nations Capital Development Fund, through the Global Fund for Coral Reefs, is already demonstrating how blended finance can deliver impact at scale, de-risking blue markets and catalysing capital for investment. But to meet the urgency of this moment, we need more donors and investors to step forward to ignite broader, faster, and more ambitious action.”
The Fund’s blended finance model has already supported more than 100 reef-positive enterprises and enabled sustainable financing for over 10 million hectares of marine and coastal ecosystems—including approximately 5% of the planet’s remaining coral reefs. As part of this portfolio, GFCR and UNCDF announced at UNOC the launch of a $1 million portfolio guarantee facility to support reef-positive enterprises in Papua New Guinea.
Structured in partnership with Women’s Micro Bank and UNDP, the facility will unlock over PGK 5.7 million in loans for sustainable, women-led MSMEs that strengthen reef and community resilience. By 2030, the GFCR aims to catalyze over 400 reef-positive businesses and sustainable financing mechanisms, protect at least 12% of global coral reefs, and leverage up to US$3 billion in finance.
“Coral reefs are integral to our way of life and cultural identity. Without urgent action, they are rapidly heading towards extinction,” said H.E. Surangel S. Whipps, Jr. President of the Republic of Palau. “The Global Fund for Coral Reefs has been an invaluable partner in our efforts to protect this crucial resource and act as a vital shield against storm surges, coastal erosion, and other climate-related threats.”
