Qantas commits to financing Reef Restoration Fund

• Qantas partners with Great Barrier Reef Foundation to accelerate restoration of coral reefs
• The national carrier to invest $10 million over 10 years including rollout of world-first coral restoration technology
• Qantas Group launches Nature Action Plan outlining commitment to address nature and biodiversity loss

Qantas and the Great Barrier Reef Foundation have launched a new fund that will help accelerate the restoration of Australia’s reef systems, including investment in Coral IVF programs, corals with increased heat tolerance and world-first portable coral nurseries.

Building on a 15-year partnership with the Foundation, Qantas will invest $10 million over 10 years in the Reef Restoration Fund to support scientists, Traditional Owners and local tourism operators restoring corals across the Great Barrier Reef and other iconic Australian coral reefs.

Great Barrier Reef Foundation Managing Director Anna Marsden and Qantas Group Chief Sustainability Officer Andrew Parker announced the partnership at the Australian Institute of Marine Science’s National Sea Simulator in Townsville.

Ms Marsden said: “Australia is the guardian of some of the most iconic coral reefs in the world. It’s a huge responsibility and we’re proud to see one national icon supporting another. This partnership will help fund critical actions at a critical time.

“Coral reefs are the beating heart of our oceans. They’re a nursery and safe haven for a quarter of all marine life and support a billion people worldwide. But the Great Barrier Reef, and coral reefs around Australia and the world, cannot adapt fast enough to warming ocean temperatures, making them one of the most vulnerable ecosystems on the planet. We must help safeguard their future from the impacts of climate change.

“We’ve made more advances in coral reef restoration science in the past five years than we have in the past five decades. Over the life of the partnership, we’re committed to finding opportunities to share these learnings with Australia’s other coral reefs.”

Mr Parker said the partnership is a key element of the national carrier’s Nature Action Plan, which launched last week.

“Connecting our customers with natural landscapes is at the core of what we do, including carrying millions of people to the reef each year,” said Mr Parker.

“We know that aviation is a high emissions industry, which is why we were one of the first airlines globally to commit to net zero emissions by 2050. We want to take the same leadership in addressing our impact on nature so that future generations can enjoy all the opportunities that global travel offers for years to come.

“By establishing the Reef Restoration Fund with our trusted partner of 15 years, we’re helping accelerate the development of world-leading technologies and projects to restore some of our most critical ecosystems.

“It’s part of our commitment to address nature and biodiversity loss by reducing the impact of our operations and supply chain, supporting the broader restoration of nature and advocating for cross-sector transformation.

“These commitments are just the first step. We are also developing rigorous nature-related targets and plans on how we’ll achieve them, which we expect to release by the middle of next year,” added Mr Parker.