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This report explores the benefits of Asia and the Pacific's coral reefs, outlines the myriad risks they face from climate change, pollution, and development, and considers how nature-positive investments can finance their protection and restoration. Outlining how over 85% of the region's coral reefs are under threat, the report looks at the first-ever insurance policy taken out on reefs in Mexico and considers how parametric insurance can be adopted in the region. Focused on managing degraded and disaster-damaged reefs, it shows how innovative products including catastrophe bonds and blue carbon credit can protect critical ecosystem services and enhance coastal resilience.