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The Asian Development Bank (ADB) and The Nature Conservancy (TNC) are focused on identifying innovative ways to effectively protect and restore critical ecosystems, such as coral reefs, in Asia and the Pacific. The need for funding and capacity to protect and restore coral reefs is too great to fill from any one source. The solution will require creative thinking and need to be multifaceted and diverse. The urgency of the crisis is too great to not invest now in identifying and developing innovative financial tools.

Marine coastal ecosystems (MCEs) provide a myriad of services on which governments, businesses, and society depend. MCEs include coral reefs, mangroves, seagrass, oyster beds and reefs, salt marshes, and sandy beaches and dunes. As of 2020, it was estimated that more than half of the world’s total gross domestic product (GDP)—around $44 trillion—depends on nature and its services (WEF 2020). The ocean economy contributes an estimated 3%–5% of global GDP (Spalding, Brumbaugh, and Landis; Millennium Ecosystem Assessment Program 2005; Ferrario et al.

The coronavirus disease (COVID-19) pandemic has wrought unprecedented devastation on tourism in Asia and the Pacific. Tourism arrivals fell by 84% in 2020 compared to 2019, making it the worst affected region in the world. Countries heavily dependent on tourism also experienced the largest fall in economic output. This abrupt drop demonstrated the importance of tourism for the region, but also placed a spotlight on its negative impacts. Decreased economic activity—including tourism—resulted in the largest annual reduction in CO2 emissions in more than 70 years, for example.

This report is the result of a collaboration between the Convention on Migratory Species and the UN Environment Programme as part of the CounterMEASURE II plastic pollution programme, generously funded by the Government of Japan, to assess the impact of plastic pollution in the Asia-Pacific region. It was prepared for the CMS Secretariat by the National Oceanography Centre, UK. This report is an important addition to knowledge on the threat of plastic pollution on CMS-listed species in terrestrial and freshwater ecosystems in the region.