The UN General Assembly designated 8 June as World Oceans Day, and this year's theme is "Revitalization: collective action for the ocean".

'World Oceans Day' was proposed in 1992 at the Earth Summit in Rio de Janeiro as a way to celebrate our world’s shared ocean and to raise awareness about the crucial role the ocean plays as well as how to protect it.

They are the lungs of our Planet and the home to most of earth’s biodiversity, as well as being key to our global economy. Its temperatures, chemistry and life make the Earth habitable for humankind. Our drinking water, weather, climate, food, and the oxygen we breathe, are all provided and regulated by the sea. Therefore the careful management and protection of this vital global resource is crucial in keeping a sustainable future for us all.

Today, with 90% of big fish populations depleted, and 50% of coral reefs destroyed, we must collectively take action to revitalize our oceans and all it sustains.

The UN Capital Development Fund is a specialized UN entity that makes public and private finance work for poor people at the household, small enterprise, and local infrastructure levels We are the only UN entity mandated to focus primarily on the Least Developed Countries and we also have a unique capital mandate, which allows us to use financial instruments such as loans and guarantees for small enterprises and small investment projects. This is the focus and expertise UNCDF brings to our engagement with the Global Fund for Coral Reefs.

The Global Fund for Coral Reefs is the first UN impact Fund dedicated to SDG 14. The GFCR is a blended finance instrument to mobilise action and resources to protect and restore coral reef ecosystems.The GFCR is creating a new paradigm for protection of an ecosystem on the brink of extinction with a myriad of implications. Through blended finance and innovative public-private partnerships, the GFCR is catalysing a sustainable financial ecosystem for conservation of coral reef ecosystems and development of the communities that depend on them. To learn more, please visit: www.globalfundcoralreefs.org

Read more on UNCDF and the Global Fund for Coral Reefs HERE, and https://globalfundcoralreefs.org/

Furthermore, UNCDF, the United Nations Development Programme (UNDP), and the UK Government, will support the Fijian Government with issuing sovereign blue bonds starting from the 2022-2023 financial year. This Blue Bond will raise up to US$50 million for investments to deliver a sustainable blue economy, create jobs and protect Fiji’s ocean and biodiversity. The Blue Bond will provide investors with attractive investment opportunities which support ocean-friendly sustainable development.

Read more about UNCDF and Fiji’s Blue Bond HERE.