Crown Princess Victoria of Sweden visited Gili Meno in Indonesia on Sunday, September 6. During the visit, she highlighted efforts to protect coral reefs against climate change.
The visit formed part of the Crown Princess’s trip to Indonesia as a UNDP Goodwill Ambassador. On Gili Meno, she learned about an initiative that aims to insure vulnerable coral reefs.
UNDP is developing the insurance scheme together with the Indonesian government, Swiss Re and the Ocean Risk and Resilience Action Alliance.
The scheme uses parametric insurance. This means it can trigger payments when environmental conditions reach predetermined levels, such as dangerous ocean temperatures.
The payments can fund rapid reef restoration. They can also support local communities affected by damage to the marine ecosystem.
Protecting reefs and local communities
UNDP describes the initiative as the first use of parametric insurance designed specifically to protect coral reefs against rising ocean temperatures.
During the visit, Crown Princess Victoria took part in coral restoration activities. She also learned about local marine conservation efforts and helped release sea turtle hatchlings.
Indonesia is home to around 16 percent of the world’s coral reefs. Reef-based tourism around Gili Trawangan, Gili Meno and Gili Air generates more than IDR 9.5 trillion annually.
UNDP expects the project to benefit around 25,000 people. Around 5,000 people will also receive training in insurance and marine protection.
The Crown Princess is visiting Indonesia from September 4 to 8. Her UNDP programme focuses on sustainable development, climate resilience and biodiversity.
On September 8, she will also join a Swedish business delegation at the Sweden-Indonesia Sustainability Partnership Business Forum in Jakarta, as previously reported by ScandAsia.
