A new type of insurance to protect coral reefs has been announced at the 2018 World Ocean Summit in Mexico. Swiss Re is proud to have supported the design of this new product which will not only help the conservation and swift restoration of the reef, if damaged by a major hurricane, but it will also support the economic resilience of the region and offers an opportunity to create a scalable new market for the insurance industry itself.

New evidence is emerging that shows that the human population’s obsession with all things plastic is poisoning one of the world’s natural wonders: coral reefs.

Much more than simply an object of beauty, coral reefs are living, breathing ecosystems, teeming with life. Although they occupy less than 0.1 per cent of the world's ocean surface, they provide an essential home for 25 per cent of all marine life; they are also vital for protecting coastal communities, acting as natural barriers from cyclones and rising seas; and 275 million people depend directly on them for their food and livelihoods.

A Public Private Partnership (PPP) agreement was signed on February 23rd 2018, for co-management of the second largest Protected Area of the Dominican Republic. The co-management body, a non-profit company, is expected to hit the triple bottom line: social, environmental and economic via the creation of new job opportunities in the Blue Economy sector for local populations, the conservation of critical ecosystems and basic financial returns. The company will receive major financing for its initial capital expenditures from international impact investors. In time, it is expected to be financially sustainable and generate its own incomes from user fees and innovative tourism models.

The compendium of project proposals submitted to the ICRI / UN Environment Grants Programme 2017 is now available. The Grants Programme is a
joint initiative of the International Coral Reef Initiative (ICRI) and UN Environment which aims to catalyze the development of innovative and replicable initiatives that enhance protection and management of coral reefs and related ecosystems.

Our seas and oceans are an integral part of our history, economy and way of life. Oceans supply nearly half of the oxygen we breathe, absorb over a quarter of the carbon dioxide we produce, play a vital role in the water cycle and climate system, and are critical for biodiversity.

And within this, coral reefs are some of the most diverse ecosystems on earth - supporting a vast array of marine life, protecting coastlines from storms and forming the backbone of local economies around the world.

But this valuable resource is under direct and sustained pressure from the impacts of human activity and ocean acidification.

A new scientific paper reveals the direct link between healthy coral reefs and shoreline stability, and field-tests an innovative risk reduction solution that combines engineering with reef restoration.

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