• Shapers of landmass: Reefs play a part in the formation of tropical islands through deposition and accumulation of Calcium Carbonate rock (limestone) and sand.
• Mediators of global climate: Corals remove large amounts of carbon from the atmosphere as they grow, actually "fixing" 700 billion kilograms a year. Carbon dioxide is a greenhouse gas that contributes to global warming. .
Coral Reefs are also very important to the economy:.
• Recreation and tourism: tourists spend about $1.2 billion annually in the Florida Keys.
• Food fisheries: the value of reef fisheries (including shellfish and other invertebrates) off the Keys is estimated at $48.4 million.
• Other industries: reefs support a large trade in aquarium fish and are a habitat for sport fish. .
Most present-day reefs have probably been growing for 5,000 to 10,000 years. But their continued survival is now threatened. Reefs around the world are now declining at an unprecedented rate--one that far outstrips our understanding of the problem (Cousteau, 1985). Few long-term studies of coral reefs have been conducted, and there is considerable debate about the overall health of reef ecosystems. Still, most scientists agree that reefs worldwide are in crisis. Caribbean reefs appear to be in worse condition than Pacific reefs. They naturally have lower levels of bio-diversity, which makes them more vulnerable to structural change. They house significantly fewer species of fast-growing and reef-building corals, and diseases have affected the entire basin while the far greater size of the Pacific has tended to keep outbreaks reef-specific or regional. The third largest barrier reef system in the world is located off the Florida Keys. Its recent decline has been attributed to multiple causes, almost all of which involve human activity. Most scientists agree that the greatest threat to Florida's reefs is degraded water quality, when land is cleared for development or agriculture, fertilizers, pesticides, and eroded soil wash out to sea when it rains.