Coral Reefs

XPRIZE designed a prize for coral restoration several years ago (discussions from that prize design are here), but unfortunately it hasn’t been funded yet. I think it’s worth reintroducing the topic of coral reefs here.

Half of the world’s coral reefs have died. The rest are under threat due to increased ocean temperatures and ocean acidification. Recent climate reports by the UN estimate we are on course to lose 70 to 99 percent of all coral reefs.

These vital ecosystems help protect coastal communities from storms and tsunamis and provide habitat and shelter for 25 percent of the world’s marine species.

Wondering where did the project look for funding from. Supposedly many shipowners with freighters or cruise ships might be interested.

@crointel thanks for the question. The short answer is: we look everywhere. XPRIZEs have been funded by nonprofits, companies, and foundations. We are always looking for suggestions and help if you are aware of potential funding.

Unfortunately, this looks like the “tragedy of the commons” to me. Everybody would benefit from having restored the coral reefs, but few are actually willing to pay for it.

@NickOttens -
Maybe we can find some profitable angle to this topic? How can the coral reefs restoration benefit somebody’s purse?

It’s true. Maybe Australian Tourism will get the most profits because of Great Barrier Reef?

@aje191, @bhaskarmv, @Charles_Gregory, @Diverman, @HMartell, @margaretmiller, @Nuphar, @Petra, @TaliV, and @Victor_Jongeneel, I remember you advised way back on the Coral Restoration Prize Design. I’d like to draw your attention to this discussion, specifically @Roey’s question: how do we overcome the “tragedy of the commons” problem in coral reefs?

Our solution is to grow fish in the open ocean. It
will directly help wild fishing businesses, so it can be funded by deep sea fishing businesses.

These trawling businesses catch about 100 million tons of fish. They are not putting anything back.

Farmers use water / irrigation, fertilizer and manure, etc, to compensate for the harvest.

We need a XPrize on

“Growing krill, fish, corals, oysters, whales, etc, in open Ocean, i.e, without enclosures.”