I have (along with probably every serious reef aquarist out there) been pondering this for some time. My personal direction would be to approach the government of a country like Philippines to allot a lagoon protected by a decimated reef and ask them if you can restore said reef and in return be able to collect from those very waters. You use the damaged reef as a platform to transplant corals and grow them out then set up a nursery in the lagoon to grow the frags into new colonies.
Hire local fishermen for US minimum wage to transplant and raise these corals. Skip the wholesale chain altogether, set up a warehouse in CA for quarantine and ship directly to the retailers.
So, you end up with a restored reef, a supply of aquacultured corals and you help the local economy on both the ornamental and the food side because a healthy reef supports biodiversity of both ornamentals and food source fishes.