| Project Detail |
Coral reefs are among the world’s most threatened ecosystems by climate change impacts. And drivers such as overfishing, agricultural run-off, sewage discharge and unsustainable tourism degrade the coral reefs, further decreasing their chance of survival. Studies have shown that local management of such threats can alleviate the impacts of climate change on the coral reefs. Thus, supporting and providing capital to businesses and companies for the sustainable use of ocean resources can considerably improve the resilience of reefs and the communities that depend on them.
As GCF’s first at-scale private sector programme in the blue economy, the Global Fund for Coral Reefs Investment Window (implemented with Pegasus Capital Advisors LP) will create a private equity fund to encourage investments in the blue economy, protecting coral reefs. Targeting 17 countries in Africa, the Asia-Pacific, Latin America and the Caribbean it aims to address critical financing and private investment barriers centred around the blue economy. GCF will act as anchor investor with its USD 125 million investment commitment, encouraging further public and private sector investment in the following areas: sustainable ocean production, ecotourism, and sustainable infrastructure and waste management. Additionally, the programme will benefit from synergies with the GFCR Grant Window, which aims to mobilise USD 125 million of concessional capital from philanthropies and other agencies in order to foster an enabling environment for seeding a pipeline of investment-ready projects. |
