As the world looks to COP30 in Belem to deliver ambitious breakthroughs for climate and nature, the World Wildlife Fund (WWF) and the Global Fund for Coral Reefs (GFCR), co-led by the United Nations Capital Development Fund (UNCDF), the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP), have joined forces to drive investment in reef-positive businesses in Solomon Islands. The initiative aims to help local enterprises grow in ways that protect coral ecosystems, strengthen livelihoods, and support long term climate resilience. The partnership aims to strengthen the resilience of communities by supporting enterprises that depend on and protect healthy coral ecosystems.

Situated within the Coral Triangle, Solomon Islands host some of the most biologically rich and climate resilient reef systems on earth. These reef systems are among the planet’s most valuable ecosystems, alleviating poverty, providing coastal protection, and enabling economic opportunity to millions of people. Yet, local pressures such as overfishing, coastal development, and land-based pollution continue to threaten these reefs, undermining their role in supporting community well-being and climate adaptation.

"Our reefs are the lifeblood of our communities, sustaining our food systems, protecting our shores, and anchoring our cultural identity and place. This partnership with the Global Fund for Coral Reefs, WWF, and UNCDF marks a new chapter in how we invest in the resilience of our people and our ecosystems in the face of climate change. By investing in reef-positive enterprises, we are strengthening our national efforts to build socio-economic resilience, create and scale-up sustainable livelihoods, and safeguard the ecosystems that sustain our people." Hon. Minister Polycarp Paea, Minister of Environment, Climate Change, Disaster Management and Meteorology.

New Zealand’s High Commissioner to Solomon Islands, Jonathan Curr, welcomes the new initiative saying “Solomon Islanders depend on coral reefs for their livelihoods, cultures and for resilience. New Zealand became a member of the GFCR in 2024, because it recognises the potential to leverage finance and generate sustainable reef positive activities at the local level. We also wanted to ensure the GFCR matched the needs of the Pacific where we have deep relationships with our partners. New Zealand is proud to partner with Solomon Islands Government on a number of fisheries and marine programmes and welcomes this new cooperation between Solomon Islands, GFCR, WWF and UNCDF. This is another demonstration of the value of collaboration among partners in the Pacific and we look forward to seeing the benefits for the reefs and the communities that depend on them.”

Implemented in partnership by WWF-Pacific and United Nations Capital Development Fund (UNCDF), the initiative will combine technical assistance, investment grants delivery, and innovative-finance mechanisms to strengthen both the supply and demand sides of reef-positive finance.

Focusing on up to two provinces among Central, Malaita, Isabel, and the Western - areas that host Solomon Islands’ most climate-resilient reefs-the initiative will target locations where local businesses can deliver the greatest reef-positive impact. The initiative will:

• Provide tailored business development assistance and catalytic investment grants to help reef-positive businesses become investment ready, improve their business models, and scale ecological impact.
• Support to local financial institutions so they are better equipped to assess and finance reef-positive businesses, backed by a credit guarantee facility, structured and managed by UNCDF
• Blended finance solutions that help absorb investment risk and encourage lending to sustainable fisheries, ecotourism, regenerative agriculture, and pollution reduction activities.

“UNCDF is proud to support this initiative in the Solomon Islands,” said Maria Perdomo, Regional Team Lead for Asia and the Pacific, UNCDF. “We absorb the risks that are too high for others to take on, so that local banks and investors can confidently finance reef-positive businesses. This is how we support communities build stronger livelihoods while protecting the reefs that sustain them.”

“This initiative is a breakthrough oceans project for WWF, combining climate conservation impact with innovative finance and forging a bold partnership with WWF Pacific, UNCDF, and GFCR," said Johan Bergenas, Senior Vice President of Oceans at WWF-US. "This partnership aims to unlock the potential of a sustainable blue economy in the Solomon Islands, one of the world’s most climate-vulnerable nations. Together, we are addressing market growth needs on both the demand and supply sides, helping businesses that protect coral reefs, and strengthen coastal communities. This project will be an important showcase for how climate resilience, nature conservation, and financial innovation can work together to deliver lasting impact.”Johan Bergenas, Senior Vice President of Oceans at WWF-US.

A scalable model for climate-resilient development

“My first exposure to the coral reefs of the Solomon Islands came during an underwater biology course as a student, where I saw first-hand their position as a global center of marine biodiversity. However, the outsized importance of these amazing ecosystems stems from the high regenerative capacity that gives them their unique resilience. This is why it is so significant that the Global Fund for Coral Reefs has approved the Coral Reef Resilience initiative,” said Susan Gardner, Director of the Ecosystems Division at the United Nations Environment Programme (UNEP) and Co-Chair of the GFCR Executive Board. “It will help local businesses grow in ways that protect reefs and strengthen community resilience in the face of the climate crisis. This is a model for the world of how innovative finance can work for people and for nature.”

With this approval, the GFCR continues advancing toward its goal of unlocking up to USD $3 billion in blended finance and investment for coral reef resilience, accelerating solutions that unite climate action, ocean protection, and inclusive economic growth.