Why in the News?

Recently, the International Coral Reef Initiative (ICRI) announced its commitment to obtain both public and private investments to support the conservation and restoration of coral ecosystems.

About the International Coral Reef Initiative:

• It was established in 1994 with founding members including Australia, France, Japan, Jamaica, the Philippines, Sweden, Britain, and the United States.
• It now boasts a membership of 45 countries, collectively representing three-quarters of the world's coral reefs.
• India is one of these member countries.
• This initiative serves as a global partnership between nations and organizations dedicated to preserving coral reefs and their related ecosystems worldwide.
• It's important to note that the decisions made by ICRI are not legally binding on its members.
• ICRI's work is frequently recognized in United Nations documents, emphasizing its significant role in cooperation, collaboration, and advocacy on the international stage.

Objectives of ICRI include:

• Promoting the adoption of best practices for sustainable management of coral reefs and associated ecosystems.
• Building capacity to effectively manage and protect these ecosystems.
• Raising awareness at all levels about the challenges faced by coral reefs worldwide.