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Sustainable Finance for Asia and the Pacific: Protecting and Restoring Coral Reefs – Summary

Published Article

Asia Pacific

Publication date: December 1, 2023

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This report examines reef insurance as a tool to fund rapid restoration in Asia-Pacific, where 80% of reefs face severe threats. It highlights reefs’ economic and ecological value, lessons from Mexico’s policy, 18 pilot sites in Fiji, Indonesia, Philippines, and Solomon Islands, and calls for integration into national climate strategies for resilience.

Subject Tags

  • Reefs
  • Climate impacts
  • Biodiversity

Abstract

Asia and the Pacific is home to some of the largest coral reef systems in the world, which are also vitally important to millions of people in the region. Nearly 150 million people live within 30 kilometers of a reef in the region and over half of coral reef fishers globally (3.8 million out of 6.1 million people) reside in Asia and the Pacific (Burke et al. 2011a, Teh et al. 2013). In addition, 1 square kilometer of healthy coral reef can provide as much as $900,000 in associated tourism value and provide hundreds of millions of dollars in annual flood production benefits in Asia and the Pacific (Spalding et al. 2017, Beck et al. 2018). Yet, over 80% of coral reefs in this region are threatened (Burke et al. 2012): chronic risks include overfishing, pollution, sediment runoff, and coastal developments.

Citation

Rogers, M., Rosales, C., Roberts, E., & Secaira Fajardo, F. (2023). Sustainable Finance for Asia and the Pacific: Protecting and Restoring Coral Reefs. The Nature Conservancy and Asian Development Bank. 

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