Corals in crises: Almost half of all species at risk of extinction, finds IUCN

Corals in crises: Almost half of all species at risk of extinction, finds IUCN

Sub : Geo

Sec: Geography

Context:

• The latest assessment by the International Union for Conservation of Nature (IUCN) highlights a dire situation for coral species, presenting at the ongoing COP29 in Baku, Azerbaijan. The findings reveal an increasing risk of extinction for reef-building corals, driven primarily by climate change and other human-induced threats.

Key Findings:

• Increased Risk of Extinction:
  • 44% of reef-building coral species are now at risk of extinction, a significant increase from 33% in 2008.
  • The assessment was based on data from the Global Coral Reef Monitoring Network and the Intergovernmental Panel on Climate Change (IPCC).

Major Threats:

• Primary Threat: Climate Change
  • Rising sea temperatures and increased frequency of bleaching events are the biggest risks to coral health.
• Other Threats:
  • Pollution, agricultural runoff, diseases, and unsustainable fishing practices are also contributing to the decline.

Impact on Marine Ecosystems and Livelihoods:

• Biodiversity Loss:
  • Coral reefs support a vast range of marine life, including fish and crustaceans.
• Economic and Social Impact:
  • 500 million people depend on coral reefs for food and income.
  • Coral reefs contribute around $375 billion annually through tourism, fisheries, and coastal protection.
  • The degradation of coral reefs increases vulnerability to storms, floods, and rising sea levels, threatening coastal communities.

Threatened Coral Species:

• Of the 892 warm-water coral species assessed:
  • 15% (56 species) are vulnerable.
  • 67% (251 species) are endangered.
  • 9% (33 species) are critically endangered, including the Staghorn coral (Acropora cervicornis) and Elkhorn coral (Acropora palmata).

Broader Biodiversity Crisis:

• Coral decline is part of a larger global biodiversity issue:
  • 46,300 species are classified as threatened worldwide.
  • This includes 41% of amphibians, 37% of sharks and rays, 34% of conifers, and 26% of mammals.
• Global Funding Gap:
  • The Global Fund for Coral Reefs (GFCR) aims to raise $12 billion, but only $30 million has been secured so far.
  • Increased investment is needed from both public and private sectors to promote a sustainable, “reef-positive” economy.

Future Steps:

• The upcoming 2025 UN Ocean Conference in France is seen as a critical event for mobilising support and resources for coral conservation efforts.
• More research is required to determine if corals can adapt to warming waters, though current evidence suggests limited adaptation capabilities.

2025 UN Ocean Conference:

• The 2025 UN Ocean Conference will be held from June 9 to June 13, 2025, in Nice, France.
• Co-hosted by France and Costa Rica, the conference aims to accelerate global action to conserve and sustainably use oceans and marine resources, aligned with Sustainable Development Goal 14 (SDG 14).
• The conference will build on the outcomes of previous UN Ocean Conferences held in New York (2017) and Lisbon (2022).
• It will feature discussions on issues like marine pollution, sustainable fisheries, marine biodiversity, and climate impacts on oceans.
• The event is expected to gather a wide range of stakeholders, including scientists, NGOs, financial institutions, and Indigenous communities.

Key Objectives:

• Strengthen international cooperation to address ocean degradation.
• Promote sustainable management of marine ecosystems.
• Foster partnerships among governments, international organizations, private sectors, and civil society.
• Enhance implementation of existing commitments and policies for ocean conservation.

Global Fund for Coral Reefs (GFCR):

• The Global Fund for Coral Reefs (GFCR) is a unique, public-private partnership initiative aimed at supporting the conservation and sustainable management of coral reefs worldwide.
• Launched in 2020, the GFCR seeks to mobilize financial resources, foster innovative solutions, and create a positive impact on coral ecosystems, which are critical to marine biodiversity and the livelihoods of millions of people.
• The GFCR works with multiple stakeholders, including the United Nations Development Programme (UNDP), UN Environment Programme (UNEP), and private sector partners.

Objectives:

• Coral Reef Protection:
  • Enhance the conservation and resilience of coral reefs against climate change and other human-induced threats.
• Sustainable Development:
  • Support sustainable economic activities that benefit local communities while protecting coral reef ecosystems.
• Innovative Financing:
  • Mobilize both public and private investments to close the funding gap for coral reef conservation.
• Climate Resilience:
  • Help build resilience of coral reefs and dependent communities against climate impacts, including sea-level rise and extreme weather events.

Key Features:

• Blended Finance Approach:
  • The GFCR uses a blended finance model, combining grants, loans, and private investments to attract more funding for coral conservation projects.
  • It aims to leverage $500 million in funding, including capital from governments, philanthropic organizations, and private investors.
• Project Areas:
  • The fund focuses on high-priority regions where coral reefs are under threat, such as the Caribbean, Southeast Asia, and the Pacific Islands.
• Support for “Reef-Positive” Projects:
  • Invests in projects that provide economic incentives for sustainable practices, such as eco-tourism, sustainable fisheries, and coral restoration efforts.

Impact:

• Economic Benefits:
  • Coral reefs contribute about $375 billion annually through fisheries, tourism, and coastal protection.
• Biodiversity Support:
  • Reefs are home to 25% of all marine species, making their conservation vital for maintaining global marine biodiversity.
• Community Livelihoods:
  • Approximately 500 million people rely on coral reefs for food, income, and coastal protection.

Source: DTE