EU announces €3.5 billion worth of commitments to protect the ocean and promote sustainability at Our Ocean Conference in Greece
At the Our Ocean Conference held in Greece on Tuesday, April 16, the European Union made a significant announcement reaffirming its commitment to international ocean governance.
The EU pledged 40 actions for the year 2024, backed by a substantial funding of €3.5 billion from various EU funds, marking the largest amount ever pledged by the EU since the inception of the Our Ocean Conferences.
The Our Ocean Conference, initiated in 2014 and hosted annually by different governments, aims to bolster global ocean governance and advocate for marine conservation and sustainable development. This year’s conference rallied for collective efforts worldwide to ensure a safe, secure, clean, healthy, and sustainably managed ocean. The EU’s commitments spanned across various themes of the conference, including sustainable fisheries, marine protected areas, ocean and climate change, sustainable blue economies, marine pollution, maritime security, and more.
Under the umbrella of sustainable fisheries, the EU announced substantial financial support, including up to €1.9 billion from the Recovery and Resilience Facility to bolster sustainable fisheries and aquaculture investments and reforms in several EU member states. Additionally, the EU allocated €23.5 million to support Regional Fisheries Management Organizations and relevant international agreements.Marine protected areas received attention with commitments such as €1.36 million to implement the Marine Biodiversity of areas Beyond National Jurisdiction (BBNJ) Agreement and €24 million to safeguard marine biodiversity in various regions.
The EU also emphasised the nexus between ocean and climate change, allocating €103 million for ocean observation programs and research to advance climate predictions.
In the realm of sustainable blue economies, the EU pledged substantial support, including €130 million under the Recovery and Resilience Facility for investments in Italy and Portugal, and €134 million to foster sustainable blue economies in African countries.
Marine pollution was addressed with commitments of up to €980 million to combat marine pollution in several EU member states.
Furthermore, the EU earmarked €45 million to enhance maritime security in regions like the Western Indian Ocean and Gulf of Guinea in Africa.
The EU also extended support to the Mediterranean region with commitments like €7.5 million for the Blue Mediterranean Partnership and €2 million for implementing the ecosystem approach to achieve Good Environmental Status.
The conference underscored the pressing need to address the various challenges facing the ocean, including global warming, unsustainable practices, illegal fishing, pollution, and loss of marine habitats. With over 2,160 commitments mobilizing around $130 billion since its inception, the Our Ocean Conference continues to serve as a crucial platform for rallying international efforts to protect the ocean.
To track the progress of commitments, the EU has developed a commitment tracking tool available on the Our Ocean website. Additionally, the EU co-hosted high-level side events advocating for the swift ratification of the BBNJ Agreement and addressing the ocean and climate nexus.
Commenting on the EU’s commitment, Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevicius said;
“The European Union continues standing up for the ocean. With €3.5 billion worth of pledges, the European Union confirms its strong commitment to protect the ocean. The ocean is part of who we are, and our shared responsibility. One year after the conclusion of the BBNJ Agreement, I am glad to reiterate, here in Greece, the EU’s ambition to continue acting as a driving force towards ocean sustainability.