Investments in the Reef
The Reef 2050 Long Term Sustainability Plan (Reef 2050 Plan) is underpinned by the Reef 2050 Investment Framework, which harnesses and coordinates public and private investment to maximise outcomes for the Great Barrier Reef (GBR). It fosters the significant breadth of commitment and contributions to the GBR from a range of partners, including traditional owners, industry, farmers, philanthropic organisations, Government and members of the local community.
For years the resources sector has provided voluntary financial and in-kind investments to GBR projects and more recently actions required to meet the targets of the Reef 2050 Plan, including but not limited to:
- The operation of regional partnerships aimed at managing, monitoring and reporting on key Reef health indicators;
- The restoration and management of critical ecosystems and habitats, such as the $7.95 million Raine Island turtle recovery project (see video below);
- The operation of local community stewardship groups, such as the Indigenous Land and Sea Ranger Program, and associated programs; and
- The ongoing monitoring of water quality across the GBR, such as the $2 million Future Reef ocean chemistry project (see video below).
These contributions are additional to the considerable compliance investments already delivered to initiatives such as extensive monitoring, field management and research.
The Reef Trust is an Australian Government initiative designed to improve Reef health and resilience by taking the best available science and targeting investment to the highest priority threats to the Reef. It is one of the key mechanisms to assist with the delivery of the Reef 2050 Plan.
The Reef Trust will build on existing investment in the Great Barrier Reef focusing on known critical areas, including improving water quality and coastal habitat, controlling the current outbreak of crown-of-thorns starfish, and protecting threatened and migratory species.
The Reef Trust Investment Strategies are developed and implemented in a phased approach to allow investments to be evaluated and adapted, so they remain responsive and target the key threats to the GBR.