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Josh Frydenberg - Liberal for Kooyong
  
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Government-Industry Cofunding Model Delivers another $10 million for Reef Protection

Published: Friday, 6 April 2018

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The Turnbull Government has today announced its Reef Trust will enter into a new co-investment partnership with the Great Barrier Reef Foundation to undertake island restoration within the Reef.

 

 

Reef Trust funding of $5 million will be matched dollar-for-dollar with a $5 million contribution, also announced today, from Lendlease through the Great Barrier Reef Foundation.

 

 

Reef islands and their adjoining reefs provide vital habitat and a refuge for many terrestrial and marine species, including seabirds, turtles, mangroves and corals. 

 

 

The Reef Trust funding will support on-ground and in-water restoration and conservation of key island habitats in the Great Barrier Reef. This may include, for example, the re-establishment of cyclone-damaged native vegetation vital for seabird nesting, the removal of feral predators and pests, restoration of essential mangrove habitat or the piloting of innovative restoration methods for damaged coral reefs.

 

 

This partnership model enables the Reef Trust to attract significant private funds and deliver a greater number of Reef protection efforts.

 

 

It builds on previous successful partnerships, including with Greening Australia to restore priority wetlands and sugar milling company MSF Sugar to support adoption of best practice farming systems that help improve the quality of water entering the Reef.

 

 

This Reef Trust project forms part of the Reef Island Refuge Initiative and will be delivered through a collaboration between the Great Barrier Reef Foundation, the Australian and Queensland governments, the Great Barrier Reef Marine Park Authority, research organisations, on-ground delivery partners, local tourism operators, reef communities and traditional owner groups.

 

 

The Reef Island Refuge Initiative will deliver a coordinated program of science, innovation and on-ground action to identify, enhance and restore critical island habitats – boosting their resilience and protecting their biodiversity into the future.

 

 

Today’s announcement is a great example of how government and non-government organisations are coming together to ensure we remain world leaders in Reef management and, more importantly, to protect the future health of this World Heritage listed treasure and vital economic driver for Australia.

 

 

Funding for this investment is being provided under the Reef Trust Phase VI Investment Strategy to be released shortly.

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