The European Union Announces €301 Million Funding for Ocean Conservation and Sustainable Development
The European Union has pledged a significant amount of funding to support various initiatives in the realm of ocean conservation and sustainable development. At the Our Ocean Conference in Busan, the EU announced a total of €301,485,000 ($342.7 million) to be allocated towards key areas such as the sustainable blue economy, marine pollution, marine protected areas, digital oceans, sustainable fisheries, and ocean and climate change.
Our Ocean Conference: A Global Effort for Marine Conservation
The Our Ocean Conference is an esteemed international event that was inaugurated in 2014 with the aim of promoting global ocean governance and fostering action to support marine conservation and sustainable development. Each year, the conference is hosted by a different country, bringing together leaders and stakeholders from around the world to address pressing issues affecting our oceans.
EU Commitments to Ocean Conservation
As part of its commitment to ocean conservation, the European Union has outlined specific areas where the funding will be directed:
- Sustainable Blue Economy: €120 million will be allocated to help African and Pacific countries enhance ocean governance and develop their blue economy sustainably.
- Marine Pollution: €65.5 million will be dedicated to combating marine pollution through various strategies and initiatives.
- Marine Protected Areas: €40 million will support partner countries in preserving and sustainably managing marine biodiversity areas.
- Digital Ocean: €30 million will be channeled towards the Digital Twin Ocean through the EU Mission Restore our Ocean and Waters.
- Sustainable Fisheries: €2.5 million will support the implementation of measures to combat illegal, unreported, and unregulated fishing practices.
- Ocean and Climate Change: €985,000 will strengthen the International Platform for Ocean Sustainability to facilitate informed decision-making for ocean conservation.
These commitments underscore the EU’s dedication to addressing crucial challenges facing our oceans and promoting sustainable practices for the benefit of marine ecosystems and communities worldwide.
With this substantial funding announcement, the European Union is poised to make a significant impact on ocean conservation and sustainable development efforts, demonstrating leadership in global marine governance and environmental stewardship.