Reef Trust - Frequently Asked Questions
General
1. What is the Reef Trust?
The Reef Trust is an Australian Government initiative designed to improve reef health
and resilience by taking the best available science and targeting investment to the
highest priority threats to the reef. It is one of the key mechanisms to assist with the
delivery of the Reef 2050 Long-Term Sustainability Plan.
The Reef Trust will build on existing investment in the Great Barrier Reef focusing on
known critical areas —improving water quality and coastal habitat, controlling the current
outbreak of crown-of-thorns starfish, and protecting threatened and migratory species,
particularly dugong and turtles.
2. Is the Reef Trust a standalone programme?
The Reef Trust is a unique mechanism designed to consolidate investments in the Great
Barrier Reef and distribute funds strategically to maximise outcomes that improve the
health and resilience of the Great Barrier Reef.
It builds on, but does not duplicate, existing Australian and Queensland Government
programmes and actions being delivered across the reef regions by natural resource
management bodies, industry, landholders and the community.
Reef Trust activities also complement other initiatives, such as the Green Army and the
National Landcare Programme.
3. How is the Reef Trust different from other Reef programmes?
The Reef Trust complements the work being delivered through a range of existing
programmes being undertaken by governments, landholders and industry.
The Reef Trust draws on lessons learned from these activities and best available
scientific information to deliver strategic and targeted interventions addressing high
propriety threats to the Great Barrier Reef.
Funding
4. What is the role of the Reef Trust Innovative Financial Mechanisms Panel?
This Panel is made up of senior representatives from key financial and philanthropic
institutions with experience in developing or delivering innovative financial mechanisms
such as green bonds and impact bonds. The role of this Panel is to provide expert
opinion, guidance and feedback to the Reef Trust on potential models which could be
piloted by the Reef Trust for delivery of conservation financing for reef conservation
projects.
Outcomes from the Panel will support the Australian and Queensland Governments to
identify and design an appropriate conservation financing model/s to trial diversification
Reef Trust – FAQs
Last Updated December 2015
of funding for Reef conservation projects and to support the implementation of the Reef
Trust and the Reef 2050 Plan.
5. Where does Reef Trust funding come from?
The Reef Trust Special Account 2014 was established on 1 October 2014 through a
determination by the Finance Minister to the Public Governance, Performance and
Accountability Act 2013.
The Australian Government investment of $100 million for the Reef Trust, on top of the
initial $40 million investment, is to provide innovative, targeted investment towards
primarily improving water quality, and also restore coastal ecosystem health and
enhance species protection.
This complements and builds on the existing Australian Government investment of over
$160 million for a range of activities focused on addressing the threat of declining water
quality, ecosystem rehabilitation and species protection.
6. What other funding will be utilised by the Reef Trust, for reef activities?
The Reef Trust has been designed to consolidate investment from a variety of sources.
Funding for the Reef Trust will be derived from the pooling of offset funds that target
specific impacts on the Great Barrier Reef from development activities.
Over time the Reef Trust will also evolve to increase its investment capacity to
incorporate alternative resourcing mechanisms, such as private investment and
philanthropic donations.
A pilot project will be delivered through the third phase of Reef Trust with $2 million of
Reef Trust funding to match dollar-for-dollar funds to be raised by Greening Australia
and its partners (Birdlife Australia, Conservation Volunteers Australia and WetlandCare
Australia). The project will support the restoration and repair of priority wetlands and
coastal ecosystems.
Governance
7. How is the Reef Trust delivered/managed?
The Reef Trust is delivered jointly by the Australian and Queensland Governments,
together with input from the GBRMPA and the Australian Institute of Marine Science.
Investment decisions are drawn from the best available science, consultancies with
Natural Resource Management organisations, industry, Traditional Owners, local
Government and learnings and experiences from past investments.
Investment approach
8. What is the Reef Trust investment approach?
The Reef Trust is being developed and implemented in a phased approach. A phased
approach enables investments to be targeted towards known key threats. Investment
decisions will adapt as knowledge of the Reef improves and prioritisation of threats and
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their management evolves. It also allows for alignment of investment with the priorities
identified in the Reef 2050 Long-Term Sustainability Plan.
Three phases of investment have been announced and are being implemented. The first
phase of investment was announced in June 2014, detailing seven initial investments
over the period 2014 – 2017. The second phase of investment was announced in
May 2015 and includes three investments over the period 2015 – 2019.
The third phase of investment includes funding of $56 million from 2015 to 2019 for high
priority water quality improvement initiatives. This third phase of investment will also
provide up to $2 million, matching dollar-for-dollar funds to be raised by Greening
Australia and their partners, for the restoration and repair of priority wetlands and coastal
ecosystems.
9. How are Reef Trust investments prioritised?
Prioritisation of Reef Trust investments involves a collaborative approach with scientific
institutions, community and management agencies to ensure a robust scientific and
economic process to identify the high priority actions for Reef Trust investment.
Best available information, such as that included in the Great Barrier Reef Outlook
Report 2014, the Great Barrier Reef strategic assessments, Reef Water Quality Scientific
Consensus Statement 2013 and the Reef Water Quality Protection Plan 2013
Prioritisation project report, inform prioritisation, together with consideration of the
likelihood an action will provide a cost-effective environmental benefit and improved
knowledge about the effectiveness of particular specific management actions.
The Reef 2050 Independent Expert Panel also provides advice on funding priorities for
the Reef Trust in order to maximise progress towards targets under the Reef 2050 Long
Term Sustainability Plan and realise the overarching vision of the Plan to improve the
Outstanding Universal Value of the Reef every decade between now and 2050.
Phase one investment
10. What are the phase one investments?
Seven projects under Reef Trust phase one are in varying stages of delivery. These are:
Reef Trust Tender – Wet Tropics - a competitive tender process to provide financial
incentives for sugar cane farmers in the Wet Tropics region, to undertake actions that
improve nitrogen use efficiency, providing water quality outcomes for the Reef in terms
of reduced fertiliser runoff.
Grazing in the Fitzroy and Burdekin Regions – this project engages graziers in the
Fitzroy and Burdekin regions to enhance their land management practices to reduce
grazing land sediment loss, which in turn reduces their impact on the environment, while
increasing productivity.
Tackling Crown-of-thorns Starfish – a control programme supporting marine park
tourism operators to protect high value tourism reef sites through the targeted culling of
starfish.
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Marine debris clean up – collaborative clean up events across the Reef and the
fostering of litter-conscious behaviours and awareness raising about the impacts of
rubbish and other pollution on the marine environment.
Investigation into environmental crime - an investigation into the illegal hunting and
trade of dugongs and turtles in Far North Queensland and the Torres Strait.
Specialised Indigenous Ranger Programme – a programme to partner with
Indigenous and local organisations to increase the capacity of the community to take
positive action in management of the Great Barrier Reef.
Cairns and Fitzroy Island Turtle Rehabilitation Centre – the capacity of the centre will
be increased to rehabilitate sick and injured turtles through training and education of
visitors, volunteers, and Indigenous groups to participate in the care of turtles, and
improved and upgraded facilities and infrastructure.
Phase two investment
11. What are the phase two investments?
The phase two Reef Trust investment activities complement existing actions being
delivered across the Reef regions by governments, community, industry and
landholders. They contribute to achieving the objectives of the Reef Trust, and to further
the long-term protection and conservation of the Outstanding Universal Value of the
Reef. Projects are:
Gully erosion control in priority grazing landscapes. This investment will provide
support for implementation of low cost, effective gully remediation techniques, guided by
the latest available scientific information, to address erosion caused by active gullies in
priority regions.
Reef Trust Tender – Burdekin. This investment will engage cane farmers to improve
nutrient and water management practices to improve nitrogen use efficiency and reduce
fertiliser runoff into the Reef lagoon.
Crown-of-thorns starfish (COTS) control. This investment will continue the tactical
control of COTS on high value tourist reefs and develop an Integrated Pest
Management approach to improve protection of coral reefs into the future.
Phase three investment
12. What are the phase three investments?
Phase three investment’s are focused primarily on improving water quality, one of the
key priorities for improving the health and resilience of the Reef. Initiatives under this
investment include:
Supporting cane farmers to move beyond industry best practice. This investment
will provide support for cane farmers to move to, and in some cases, beyond industry
best practice for nutrient, irrigation, pesticide and soild management.
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Reducing erosion losses from rangelands grazing. This investment will provide oneon-one training and support to graziers to implement high priority actions with a focus on
improving herd management, forage budgeting, setting and adaptively managing
stocking rates and improving ground cover. Financial support may also be provided to
eligible graziers for onground projects such as protection and remediation of erosion
hotspots.
Maintaining water quality improvement momentum in grains, dairy and
horticulture. This investment will provide training and support to land managers,
including for delivery of soil and nutrient management plans. Financial support will also
be provided to landowners for high priority water quality improvement practices such as
improved nutrient use and irrigation efficiency, and miniminsing stock access to
waterways.
Coastal habitat and wetland rehabilitation. This pilot programme will be delivered in
partnership with Greening Australia. It will provide wetland and coastal habitat
restoration at priority locations. Restoration of these sites will enhance nutrient
assimilation and sediment trapping and assist to re-establish ecosystem function and
improve connectivity for at least 200 hectares of wetlands and coastal ecosystems.
Delivery mechanisms
13. How do you determine the mechanisms for delivering different projects?
Reef Trust projects will be delivered using a range of mechanisms dependent on the
specific outcomes sought, allowing for collaboration, innovation and cost-effectiveness.
One key aim is to encourage greater use of market-based instruments, such as
competitive tenders/reverse auctions to ensure the greatest outcomes relative to cost.
14. What is a competitive tender?
Competitive tenders, also known as reverse auctions, are a form of voluntary
market-based instrument, which has been used to provide incentive payments for
landholders to carry out actions or projects that support environmental outcomes.
Competitive tenders allocate a fixed budget for goods or services between competing
sellers. A metric is used to evaluate bids to ensure the most cost-effective bids are
prioritised for investment.
15. Will a grant round be opened for future investment?
Grant rounds may be one delivery mechanism used to deliver Reef Trust projects.
However, Reef Trust delivery mechanisms will not be constrained to traditional open
grant processes, and will employ a range of mechanisms based on the specific
outcomes sought. Keep an eye on the Reef Trust website for up-to-date information
regarding the opening of grant, or other delivery mechanism, rounds.
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Consultation
16. How have community and expert views been incorporated into the design of the Reef
Trust?
Ongoing consultation informed the establishment of the Reef Trust and continues to
inform investment through the Reef Trust. Input from sources such as the initial Reef
Trust discussion paper, consultation undertaken through the establishment of the Reef
2050 Long-Term Sustainability Plan and continued engagement with key interest groups
provides a cooperative and adaptive approach to management.
The Commonwealth Chief Scientist, Professor Ian Chubb, is chair of the Reef 2050
Independent Expert Panel. This panel provides advice on funding priorities for the Reef
Trust in order to maximise progress towards targets under the Reef 2050 Long Term
Sustainability Plan and realise the overarching vision of the Plan to improve the
Outstanding Universal Value of the Reef every decade between now and 2050.
17. How flexible is the Reef Trust with regard to incorporating new ideas?
The Reef Trust will incorporate new ideas through ongoing consultation with the
community, science experts, environmental organisations, relevant industries and
natural resource management organisations. Consultation approaches will be varied and
ongoing throughout the life of the Reef Trust to capitalise on specialist knowledge and
advice.
If you have information that could critically inform investment through the Reef Trust, we
are interested in hearing from you. Please send suggestions and input that align with the
outcomes of the Reef Trust to our mailbox reef2050@environment.gov.au.
18. Was there any public consultation on the Reef Trust investments?
Consultation with key stakeholders has been ongoing since the announcement of the
Government’s election commitment to establish a Reef Trust.
Consultation on the Reef Trust and investment options has involved discussions with key
interest groups such as NRM organisations, industry organisations, environmental nongovernment organisations and research institutions, as well as academic organisations
such as the Australian Institute of Marine Science, Commonwealth Scientific and
Industrial Research Organisation, James Cook University and the University of
Queensland.
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