Background
The Global Fund for Coral Reefs (GFCR) Coalition is an implementation vehicle for the Global Biodiversity Framework (GBF) and Sustainable Development Goal 14, Life Below Water. The 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. Hosting both a UN Fund and an Equity 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.
The Global Coral Reef Monitoring Network (GCRMN) is a network of scientists, managers and organisations that monitor the condition of coral reefs throughout the world, aiming to provide the best available scientific information on the status and trends of coral reef ecosystems for their conservation and management. The GCRMN is currently planning to produce a global report on the status of the world’s coral reefs in 2025, with regional chapters for all major coral reef regions. The GFCR is producing significant ecological data sets in critical coral reef areas around the world, and intends to collaborate with the GCRMN to ensure that data sets collected contribute to regional and global reporting processes.
The Global Fund for Coral Reefs (GFCR) REEF+ Community of Practice promotes knowledge exchange between coral finance practitioners and drives finance towards bankable reef-positive solutions. REEF+ aims to facilitate knowledge and learning for the GFCR community to support the creation of reef-positive enterprises, finance strategies for Marine Protected and Conserved Areas, and other finance solutions supporting coral reefs and associated communities.
REEF+ constitutes a Community of Practice comprising the GFCR Convening Agents and implementing partners – non-profit organizations, companies, individuals, investors, and government counterparts that work as part of the GFCR country and regional programmes. REEF+ enhances learning, solution sharing and networking among coral reef finance and management practitioners, including through focused webinars and practitioner discussions, networking events, the creation and curation of thematic communities of practice and working groups, and annual convenings.
Overview
UNEP and UNDP will hold simultaneous regional events with an aim to build synergies between GFCR M&E and knowledge management & community:a) a regional GCRMN / GFCR workshop b) GFCR REEF+ regional convening
The regional GCRMN/GFCR workshop for the Western Indian Ocean will bring together all GFCR and GCRMN partners in the region, including scientists, data-holders, and coral reef monitoring experts with an aim to:
- Prepare and agree on a regional plan for data analysis and writing of the GCRMN WIO chapter as part of the global 2025 GCRMN report
- Strengthen & build capacity on monitoring & analysis protocols, including standardization of monitoring sites
- Establish a workplan for the regional WIO Coral Reef Technical Working Group
Objectives of the GFCR REEF+ regional convening includes:
- Maximise cross-program learning and knowledge exchange by providing programs showcase best practices and lessons learned
- Build capacity on priority topics including conservation finance, blended finance, and sector specific best practices;
- Promote networking among the GFCR community of practice;
- Catalyse the GFCR community of practice to engage on relevant topics beyond the conference; and
- Promote South-South cooperation and peer exchange.
