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UNCDF Executive Secretary Pradeep Kurukulasuriya
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With data confirming the worst ecological crisis facing coral reefs, amidst the ongoing fourth and most extensive coral bleaching event on record, an emergency special session has been called for 30 October on the sidelines of the UN Biodiversity Conference COP16 in Cali, Colombia.
The session will address the unfolding crisis and call for bolder actions and strategies before irreversible damage occurs — threatening over a billion people and more than quarter of marine life worldwide. This affects all the coral countries, including Sri Lanka.
Special emergency sessions on non-humanitarian issues are rare, highlighting the severity of the situation. As of late August, more than 75% of coral reefs worldwide are affected, according to the International Coral Reef Initiative (ICRI).
The third global coral bleaching event (2014-2017) was previously considered the longest, most widespread, and most damaging on record, affecting 65.7% of the world’s coral reefs.
Led by the UN Secretary-General’s Special Envoy for the Ocean Ambassador Peter Thomson, the session will discuss the rapidly escalating threats to coral reefs, coastal communities, and marine life that depend on these vital ecosystems.
“I am deeply concerned about the ongoing fourth global coral bleaching event, the most extensive on record, affecting over 75% of coral reefs worldwide,” said Ambassador Peter Thomson. “Healthy coral reefs are crucial for the well-being of 25% of all marine life and over a billion people, including vulnerable coastal communities. These ecosystems provide essential services like food security, coastal protection, and livelihoods. Yet, they are on the brink of collapse.”
While corals can survive bleaching events, stress and impacts increase mortality risks and reduce reproductive rates. However, scientific studies show that interventions addressing local threats can support resilience and recovery. With the window for protecting these ecosystems rapidly closing, scaling up integrated strategies to support resilience and avert ecosystem collapse is critical.
The availability of financing remains a major constraint in bolstering resilience of the remaining reefs.
“Without transforming coastal economies through a blend of grant and impact investments, even the most resilient coral reefs risk dying out,” said UNCDF Executive Secretary Pradeep Kurukulasuriya. “Public financing and aid alone will not be enough to create sustainable financial mechanisms to catalyse the shift of coastal economies towards nature-positive models. We are championing innovative financial mechanisms through the Global Fund for Coral Reefs (GFCR) to de-risk investment opportunities for the private sector, leveraging public and philanthropic capital.”
Representatives from coral states, leaders in coral reef action, renowned scientists, and representatives from the International Coral Reef Initiative (ICRI) and GFCR will take the stage during the COP16 Emergency Special Session on Coral Reefs. The session will deliberate clear action points, integrated strategies, and scalable resilience initiatives offering the best chances of thwarting functional extinction, including efforts to protect climate refugia. The session will also outline critical paths and urgent calls to action for public and private leaders to scale up transformative conservation actions to prevent the functional extinction of coral reefs.
Event Details:
Large Blue Zone Official COP16 Side Event Room (Subnational and Local Governments Room, Plaza One) on 30 October 30, 2024, from 16:30-17:50.
Register here.