Great Barrier Reef contributes more than US$ 4.80 billion in Australia’s economy per year. To continue this earning the government has announced plans to protect these assets. It will be a largest single investment to protect the reef. Great Barrier Reef is the largest coral reef system in the world which include 2,900 individual reefs and 900 islands which consists 2,300 km over an area of 344,400 km. The reef is in the Coral Sea, off the coast of Australia.
The government is going to invest US$ 377 million, to protect “the planet’s greatest living wonder.” The millions of investments by the Australian government to protect the reef they will create thousands of jobs, avoiding starfish, and many new processes to be implemented by the government for reef restoration. NPR said more than 11 percent of this money will be transferred to the marine park and other federal agencies around US$ 335 million will be allocated for the Great Barrier Reef Foundation.
US$ 30 million for the Great Barrier Reef Foundation will be for observing the health of the reef, US$ 34 million for coastal clean-up, and US$ 44 million for avoiding starfish. More than US$ 70 million will be allocated for “harnessing the best science to implement reef restoration” also for research activities. US$ 150 million will be allocated to improve the quality of water and farming practices.
Great Barrier Reef is able to see from outer space and world’s largest structures created by living organisms. Reef structure in there is composed of billions of tiny organisms, which are generally known as coral polyps. It was part of the trouble, since 2016. From then, around half of the reef died due to coral bleaching in 2016. High water temperature is a major reason for coral bleaching. Global warming has killed 30 percent in just 8 months and in North, 50 percent has died due to the same reason in 2016.
Here the question arises, does this investment will help it? As global warming will increase, it will increase water temperature again.