Reef Funding Program
The Reef Funding Program is a $1 billion investment program targeting clean energy projects in the Great Barrier Reef catchment area. The program makes finance available for clean energy businesses and projects which support the delivery of the Australian Government’s Reef 2050 plan, aiming to extend the benefits of clean energy to the long-term health of the Great Barrier Reef.
The Reef Funding Program was created following a Ministerial Direction through the Investment Mandate to direct finance toward eligible projects in the Great Barrier Reef catchment area. Investments include projects that have a positive co-benefit for the health of the reef (either directly by improving water quality, or indirectly by reducing emissions). Five priority industry areas for investment: agribusiness, tourism, renewables, property and infrastructure.
In its first year of operation, agribusinesses in the Reef area have invested in irrigation equipment, improved fuel efficiency for farm equipment and small-scale equipment and system wide upgrades. The CEFC has consulted widely with businesses, government agencies and financiers in the Reef Catchment Area to raise awareness of the financing options. In addition, we continue to work directly with agribusinesses and farming bodies to help raise awareness about how producers can benefit from clean energy solutions.