GBRF out to double its money

THE Great Barrier Reef Foundation plans to almost double its $ 443 million government funding over the next six years.

The foundation has announced it will launch an environmental fundraising campaign to raise up to $ 400 million through private funds in its collaborative investment strategy.

Foundation managing director Anna Marsden said people across Townsville and the Burdekin would be among the beneficiaries.

“People across Townsville, Burdekin and North Queensland understand the urgency of saving the Great Barrier Reef,” she said.

“They know the Reef is one of the world’s most extraordinary natural wonders, and its role as a lifeblood for local tourism and economic activity.

“The $ 443 million government investment is the largest ever in the Reef, which we will amplify by an additional $ 300 million to $ 400 million through our unique capacity to leverage private funds.”

The foundation has a working target of raising $ 200 million through contributed funds from research and delivery partners.

A capital campaign will aim to raise $ 100 million to match public investment in reef restoration through the help of local and global philanthropists.

The foundation hopes to raise $ 50 million through a corporate giving campaign and $ 7 million through a community giving campaign.