Why in news? The International Coral Reef Initiative (ICRI) was launched

Highlights:

• Coral Reef Breakthrough was launched in partnership with the Global Fund for Coral Reefs (GFCR) and the High-Level Climate Champions (HLCC).
• It is a network including 45 countries that represent over 75% of the world’s coral reefs

Aim

• To secure the future of at least 125,000 km² of shallow-water tropical coral reefs with investments of at least US$12 billion to support the resilience of more than half a billion people globally by 2030.
• It aligned actions to achieve the Sharm-El Sheikh Adaptation Agenda’s Ocean and Coastal Impact System targets and the Kunming-Montreal Global Biodiversity Framework (GBF).
• It was launched to prevent extinction of one of the world’s most threatened, and most valuable biodiverse ecosystems.

History

• The Breakthrough was launched through the ICRI 37th General Meeting
• It was developed with support from the Government of Sweden and the Principality of Monaco.