Coral reefs, supporting an estimated one billion people, are among Earth’s most endangered ecosystems. It is estimated that more than half of the world’s coral reefs have disappeared as a result of climate change and increasing anthropogenic pressures. With an aim to deploy $625 million over the next decade, the Global Fund for Coral Reefs is the first blended finance instrument developed to close the coral reef funding gap. This event is structured with an ambition to showcase the power of blended finance in the effort to secure global net zero and protect marine biodiversity’s last strongholds. Several high-level private and public sector leaders demonstrate how blended finance is necessary to scale adaptation interventions for vulnerable communities and natural habitats. By linking ambitions and aligning with CBD COP mandates for nature-based solutions, GFCR provides a crucial opportunity to showcase how Ocean Action is Climate Action. The event featured an address by Ambassador Peter Thomson, the United Nations Secretary-General’s Special Envoy for the Ocean, and interventions by a variety of speakers including Executive Director of the Green Climate Fund, Yannick Glemarec; Preeti Sinha, Executive Secretary, United Nations Capital Development Fund (UNCDF); Executive Secretary of the Convention on Biological Diversity (CBD), Elizabeth Mrema; GFCR’s Executive Board Chair, Chuck Cooper, Managing Director of Policy and Government Relations at Vulcan Inc., representing the Paul G. Allen Family Foundation; Professor Gideon Henderson, Chief Scientific Advisor, UK Government’s Department of Environment, Food and Rural Affairs Sanjeev Krishnan, Chief Investment Officer of S2G Ventures, Builders Vision; Jodi Smith, Head of Local Strategic Vision and Sourcing Pipeline Businesses, Matanataki; Shenique Smith, The Bahamas Program Director for The Nature Conservancy; CEO of Pegasus Capital Advisors, Craig Cogut; Green Climate Fund’s Private Sector Facility Director, Henry Gonzales; as well as closing remarks from Haoliang Xu, United Nations Assistant Secretary General and UNDP Programme Director of the Bureau for Policy and Programme Support.