list last year, is working to rebuild the marine ecosystems degraded by climate change to achieve carbon neutrality.
However, coral reefs are extremely sensitive to warming waters. Corals can lose the algae that provides them with food when sea temperatures are abnormally high—a process known as bleaching because it’s the algae that gives them their bright colors.According to a report released by the Global Coral Reef Monitoring Network last year, the world had already lost 14% of its coral reefs between 2009 and 2018.
Yu says Archireef is already profitable and its clients include Hong Kong companies like jewelry chain Chow Sang Sang and real estate company Sino Group, which is run by Singapore billionaire“We are very sustainability-minded,” says Melanie Kwok, assistant general manager of sustainability at Sino Group, in an interview at the company’s The Fullerton Ocean Park Hotel Hong Kong. “We have played a role to actually protect the ocean.
The Abu Dhabi government announced in 2021 that the United Arab Emirates aims to achieve net-zero carbon emissions by 2050, making the emirate the first in the region to set such a target. It was Abu Dhabi’s commitment to sustainability that convinced Yu to set up Archireef’s first overseas operations in the United Arab Emirates, which is hosting this year’s COP28 climate summit.