The Global Fund for Coral Reefs Receives Over $25 Million in New Contributions

As the most widespread coral bleaching event on record pushes the world’s reefs toward an ecological tipping point, a coalition of government and philanthropic partners has announced over USD$25 million in new contributions to the Global Fund for Coral Reefs (GFCR) at the United Nations Ocean Conference (UNOC3).

This wave of support comes from the Governments of the United Kingdom, New Zealand, France, and Germany, alongside renewed commitments from Builders Vision and UBS Optimus Foundation. This funding is crucial at a critical moment for the planet’s coral ecosystems and the more than one billion people who rely on them for food security, livelihoods, and coastal protection.

The urgency is stark as the fourth global coral bleaching event, now affecting an estimated 84 percent of the world’s reefs, is being driven by record-breaking marine heatwaves and prolonged thermal stress. Without swift intervention, irreversible coral mortality is imminent, with serious consequences for both biodiversity and coastal economies.

While the funding announced at UNOC3 is a significant step forward, the gap to meet the GFCR’s 2030 targets remains substantial. More capital will be required to scale locally led investments and unlock private finance for long-term reef resilience.

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 percent of the planet’s remaining coral reefs. As part of this portfolio, GFCR and UNCDF announced at UNOC3 the launch of a USD$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 percent of global coral reefs, and leverage up to USD$3 billion in finance.