More than €300 million in financial support has been unlocked this week to help boost ocean conservation efforts and jump-start critical areas of the blue economy across the European Union and its partners while shoring up developments to tackle marine pollution, advance marine protected areas and sustainable fisheries, and fight climate change.

Announced at the Our Ocean Conference in Busan, South Korea this week, a total financial package of €301,485,000 will be spread across each of the outlined areas, the greatest share of which (some €120 million) directed towards powering-up sustainable blue economy efforts across various African and Pacific countries.

This financial support will correspond to €58 million in support for the Western Indian Ocean, a €42 million package for efforts in Central Africa, and €20 million for the Pacific.

The announcement was made by Raphaël Goulet, the Deputy Director for International Ocean Governance and Sustainable Fisheries of the European Commission and delivered during a special ‘Commitments’ proceeding during the Our Ocean Conference in Busan.

In his speech, Goulet reaffirmed that “partnerships are at the core of the EU action on the ocean” adding that the “challenges we face today cannot be faced alone.” This was exemplified by the EU’s pledge of €120 million to support the development of blue economy initiatives across African and Pacific Country partners, marking a new first for the EU’s long-standing partnership with these nations. 

“The EU and the Pacific states have agreed to join forces,” said Goulet. “Through this partnership, I am pleased to announce – on behalf of the EU – to pledge €120 million, part of the EU’s commitment to the ocean, comprising 13 commitments worth €300 million in support of sustainability.”  

In the fight against marine pollution, the European Union has pledged some €65.5 million (pending a final Commission decision) to be distributed across a comprehensive European strategy for assessing and monitoring marine litter (€18 million); supporting authorities in the elimination of pollution and transitioning to a more climate-neutral and circular blue economy (€43.5 million); and technical assistance to support up to 50 targeted communities in driving local change and promoting sustainable practices (€4 million).

In an effort to boost the development of critical marine protected areas – widely recognised as one of the most critical tools towards reaching the overarching goal to protect 30% of the land and ocean environment by 2030 – the Union has pledged a package of €40 million. This will be offered as support to partner countries in their own efforts to preserve and sustainably manage areas of biodiversity and “swiftly ratify the Beyond National Jurisdiction (BBNJ) Agreement.”

Elsewhere, and in line with the tenth anniversary of the Our Ocean Conference and its theme this year to convene and explore the intersection of technology and ocean conservation under the umbrella ‘Digital Oceans’, the EU has committed €30 million to the Digital Twin Ocean initiative – a real-time virtual representation of the ocean through which ocean observations are combined with artificial intelligence, and advanced modelling made available to all. The Digital Twin Ocean gives governments, researchers, businesses, activists, and citizens the ability “to make informed decisions, backed by science and data, to restore marine and coastal habitats” and support the blue economy as the world adapts to climate change.

With regard to sustainable fisheries and efforts to expand knowledge of the ocean and climate change, the EU finally pledged €2.5 million to support the implementation of the Port State Measures Agreement to effectively fight illegal, unreported, and unregulated (IUU) fishing, and commit a final €985,000 to strengthening the International Platform for Ocean Sustainability to help enhance the exchange of scientific knowledge and policy expertise.

Launched back in 2014, the Our Ocean Conference is an international event hosted each year in a different country as it aims to foster global ocean governance and action to support marine conservation and sustainable development. 

The European Union has stated that its commitment made during this year’s event is the latest in a long-storied action to protect the ocean at EU and international level.

“The ocean continues to be considered a key priority under the European Commission’s current mandate,” said the Union in a press release. “The Commission will soon adopt the European Ocean Pact. It will create a unified framework for ocean policies, aiming to preserve ocean health and boost the EU blue economy.”

Our Ocean Conference aims to strengthen the collective efforts to address the multitude of issues being faced by the global ocean right now. Bringing together countries, civil society, and industry to inspire solutions, the Conference has successfully unlocked around ¢140,250 billion in ocean action funding over the last ten years.

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