Source: Manila Bulletin
Representatives of six countries surrounding the Coral Triangle, known as the “center of marine biodiversity in the world,†will meet in Manila to discuss financial support, business investments, and environment protection on a four-day Coral Triangle Summit in January.
Organized by the Philippine government and the World Wide Fund for Nature (WWF), the summit will gather business and policy leaders from Jan. 18 to 21 to discuss the protection of the Coral Triangle Region and outline business opportunities for key sectors operating in the region.
The 2010 event follows the Coral Triangle Initiative Leaders’ Summit held in Manado, Indonesia last May, where the six heads of state of the Coral Triangle committed to a Regional Plan of Action to develop and conserve the area with meaningful engagement from the private sector.
The Coral Triangle is Indonesia, Malaysia, Papua New Guinea, the Philippines, Solomon Islands, and Timor-Leste.
It is considered to have the most diverse marine environment while covering only one percent of the earth’s surface. It has 30 percent of the world’s coral reefs, 76 percent of reef-building coral species, and serves as spawning grounds for tuna.
It also sustains the lives of more than 120 million people, along with thousands of small and medium businesses that rely on healthy marine environments and resources.
However, the WWF said the Coral Triangle is under threat from over exploitation, environmental degradation, poverty, and global economic recession, all compounded by severe climate change.