The aim of this investment is to forge collaborations to build on the Australian and Queensland governments' $2 billion Reef 2050 Plan, which is based on the best available science, draws on 40 years of analysis and is underpinned by the Great Barrier Reef Marine Park Authority’s strong management. This is an investment not only in the future of the Great Barrier Reef, but also in Australian jobs and our economy as the Reef attracts tourists from all over the world. The Reef has recently been assessed by Deloitte Access Economics as having an economic, social and icon value of $56 billion to the world. It contributes $6.4 billion to the Australian economy annually and supports 64,000 Australian jobs. There is a role for everyone in protecting the Great Barrier Reef for generations to come and this investment program recognises that.

While this large federal government investment is a positive step forward, we need more financial investment to protect and restore the Reef long term. The raising of private funds will continue to be a focus and responsibility of the Great Barrier Reef Foundation, which will further amplify the impact of this positive government announcement. The Foundation will work hard to bring existing donors and new donors together with government to get the best results for the Reef over the next six years while this program is being delivered. Further, the Foundation has a strong history of bringing together key partners to deliver science and research projects for the Reef.

Over the six years, this significant government and private funding investment will support the delivery of key actions under the Reef 2050 Plan and help ensure the future health of the Reef.

The $443.3 million will be invested over six years from 2018-19 to 2023‑24. The funds were provided in full to the Foundation in 2017-18. The partnership with the Foundation includes: $201 million to improve water quality through changed farming practices such as reduced fertiliser use and adopting new technologies and land management practices. $100 million to harness the best science to implement reef restoration and support Reef resilience and adaptation. $58 million to expand the fight against the coral-eating crown-of-thorns starfish. $40 million to enhance Reef health monitoring and reporting to track progress and inform better management. $22 million to support Indigenous and community reef protection activities to increase traditional owner and broader community engagement on the Reef, including Indigenous sea country management, coastal clean-up days and awareness raising activities. $22 million to administer the programs including implementing peer-reviewed systems and processes for project management, governance, and monitoring and evaluation; and developing and implementing key strategies that span each component such as science and innovation, communication and engagement, fundraising and risk and resource management. The funding will build on and directly support the intensive work already underway through the Australian and Queensland Governments’ Reef 2050 Plan.

The Foundation has a strong track record of raising significant funding for the Reef, more than $90 million. It will continue to do that to leverage these government funds.

The Foundation is uniquely placed to broker constructive partnerships between the private and public sectors for program delivery for the Reef. It has a strong track record of securing partnerships for innovative projects to protect the Reef, such as the Raine Island Recovery Project, the pioneering larval reseeding (‘coral IVF’) project and the sun shield for the Reef project, to name just a few. Read more about the Foundation's Reef projects.

The Partnership between the Foundation and the Australian Government is established through a grant agreement. The Foundation will be required to report regularly to the Department of Environment and Energy on the program’s delivery and outcomes. Over the coming months, the Foundation will work closely with the Department of Environment and Energy and Great Barrier Reef Marine Park Authority to ensure this investment will be delivered to best effect through a range of government and non-government delivery partners. The Foundation will work with a diverse range of Reef stakeholders to deliver on-ground action to benefit the Reef. The Foundation’s work actively supports and aligns with the Reef 2050 Plan.

The Foundation raises money for the Reef from a range of stakeholders and then works with the best researchers and scientists to deliver projects grounded in science, technology, engineering and on-ground action to benefit the Reef. These are the three key areas of focus: Raising funds for research and on ground conservation that addresses threats to the Great Barrier Reef Designing and delivering projects in partnership with the private and public sector that protect and restore the Reef. Bringing hope to the future of the Great Barrier Reef through our communications and our projects.

One of the driving forces behind its establishment was Sir Sydney Schubert. Sir Sydney was a builder of vision and ideals – he fostered infrastructure development around the state of Queensland and he was also integral to the creation of an agency to safeguard the largest living structure on Earth, the Great Barrier Reef. He was a founding board member of the Great Barrier Reef Marine Park Authority, a role he held for more than a decade. In 2001, he became the Chair of the Cooperative Research Centre (CRC) for the Reef, furthering his personal support for the protection of the Reef. As part of the recognition for his highly respected work, the Great Barrier Reef Marine Park Authority Chairman announced last year that a reef located about 17.7 km east of Lizard Island will become Sir Sydney Schubert Reef. The first severe mass coral bleaching event on the Great Barrier Reef occurred in 1998. At an initial meeting in 1999 to discuss the formation of a foundation for the Reef, those who attended included Sir Sydney Schubert, Sir Ian McFarlane, Mr John B Reid AO and Dr John Schubert AO. In November 1999, the Great Barrier Reef Research Foundation was registered as a company with four founding directors: Sir Sydney Schubert, Sir Ian McFarlane, John B Reid and David Windsor. Sir Sydney Schubert resigned as a director in 2001. The other three founding directors resigned in 2004. Dr John Schubert AO became Chairman in 2004. It is our understanding that Sir Sydney Schubert’s idea for forming the Foundation was to create a charity to bring science and business together with a common purpose of protecting the Great Barrier Reef. Eighteen years later, the Foundation continues to lead the collaboration of business, science, government and philanthropy for the benefit of the Reef.

The Foundation is governed by an independent Board of 13 directors and Anna Marsden is the Managing Director – an experienced administrator and fundraiser in the Australian business community.