According to new research, bleaching of the reef could destroy the natural wonder while costing the country's economy AUS$38 billion (£19 billion).
Bleaching is said to occur when water becomes warmer, saltier or more acidic, ultimately killing the coral if the conditions remain the same for a month or more.
Researchers at Oxford Economics valued the reef at around AUS$51 billion (£26 billion) but warned that up to four fifths of its worth could be lost if it was irreparably damaged.
Presenting the study John Schubert, the Great Barrier Reef Foundation's chairman, said: "We are basically at a point where we need to take action to ensure that as much of the reef as possible can be preserved."
The foundation's website says the reef is the largest continuous coral reef archipelago on earth, covering an area of 344,000 square kilometres.
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