IPCC reef warning
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The launch comes the same week the Intergovernmental Panel on Climate Change released its landmark report on what 1.5 degrees of warming will mean for the planet.
The UN paper estimates 70-90 per cent of reefs will disappear if warming reaches 1.5 degrees compared with the roughly 1 degree since pre-industrial times so far. Virtually all the reefs, though, will die if temperatures rise 2 degrees or more.
"The IPCC report has really shown there’s a closing window for action, a closing window of opportunity over the next five years," Ms Marsden said. "Every moment counts. The reef simply doesn’t have time to mess around.”
Political storm
The foundation has struggled to draw attention to its fundraising track record amid a political storm over the Turnbull government's choice of the group as its main conduit for reef funding.
At the time of the April grant announcement, the foundation had just six full-time employees and had been in discussions for a $5 million, five-year grant. Most donations have been domestic but it hopes to increase the overseas share in the new fundraising push.
A Senate order for documents, however, shows the government also wants institutions such as the Australian Institute of Marine Science and CSIRO to raise money of their own for reef programs.
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"Canberra expects the foundation to leverage $200 million for reef restoration, including $100 million from research agencies/unis," one document from AIMS provided to Fairfax Media reads.
Labor's science spokesman Kim Carr said the new documents demonstrate the government always wanted CSIRO or AIMS to pass the hat around for funds as well.
"Not only have AIMS, CSIRO and universities been locked out in favour of big business, but they are being told they are expected to pay for the privilege of competing for public funds," Senator Kim said.
"Labor does not want to see funds that were allocated for our public research agencies now squandered on the Prime Minister’s science privatisation pilot program.”
'Risk of collapse'
Ms Marsden said Labor's pledge to claw back the foundation's grant if elected would derail its fund-raising plans.
"The gift strategy is absolutely linked to the $443 million grant so if the grant collapses, there is a $700 million to $800 million loss for the reef," she said.
The foundation secured $25 million in donations in 2018 before the grant's announcement. New funds, though, have dried up since then as the group dealt with pressing issues, such as recruiting staff, Ms Marsden said.
The foundation's aim is to have its main research plans, which include expanding the cull of coral-eating crown of thorns starfish, by July 2019. The staff will have increased to 39 by then compared with 25 now.
“We have great confidence we can do a brilliant job," Ms Marsden said, adding the foundation wants the research to make an impact on reefs globally.
"Over the next decade, we’re really hoping we can look back on something that Australia played a pivotal leadership role on."
Peter Hannam is Environment Editor at The Sydney Morning Herald. He covers broad environmental issues ranging from climate change to renewable energy for Fairfax Media.