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<p>Ocean conservation and the protection of marine biodiversity is a global challenge
and one that is critically underfunded. Through the UK’s £500m UK aid Blue Planet
Fund and in line with the 10 Point Plan for Financing Biodiversity and the International
Development White Paper, we are supporting innovative projects that aim to attract
and scale up private investment in ocean recovery. These initiatives include restoration
and protection of blue carbon habitats and increasing coastal community resilience,
funded through programmes led by the Ocean Risk and Resilience Action Alliance (£13.9m),
the World Bank’s sustainable blue economies programme- PROBLUE (£37.5m), and the Global
Fund for Coral Reefs (£33m), amongst others. In June 2023, Lord Benyon hosted a joint
UK-GFCR Investors Roundtable event, which showcased the GFCR as a viable investment
opportunity and supported investor mobilisation for the GFCR Investment fund. At 28th
Conference of the Parties of the UNFCCC (COP28), the GFCR Coalition announced the
mobilisation of more than $200 million USD as an initial direct investment toward
the newly established 2030 Coral Reef Breakthrough targets, these include mobilising
$12bn for corals and protecting 125,000 km2 of corals (50% of ~250,000km2 global total)
by 2030.</p><p> </p><p>As set out in Mobilising Green Investment: 2023 Green Finance
Strategy, we are also taking action to meet our target to raise £1bn in private finance
into nature’s recovery in England every year by 2030, both on land and at sea.</p>
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