Summary of the “Our Ocean” conference – as announced, the EU will allocate 816.5 million euros for ocean protection

On March 2 – 3, 2023. held the eighth edition of the “Our Ocean” conference, where the EU reaffirmed its strong commitment to the process of international ocean governance, announcing 39 commitments to be fulfilled in 2023. As announced, it will allocate €816.5 million.

The conference addressed, among other things. topics on marine protected areas, marine pollution, climate change, sustainable fisheries and the blue economy, and maritime safety. In addition, the Union has joined the Alliance for Action on Illegal, Unreported and Unregulated Fishing(IUU).

EU financial commitments in pursuit of safe, clean and sustainably managed oceans include:

• Approximately €320 million for ocean research to protect marine biodiversity and address the impact of climate change on the oceans;
• 12 million to facilitate access to Copernicus data and products through the Panama-led Copernicus Regional Center for Latin America and the Caribbean;
• 250 million earmarked for the renewal of the satellite constellation through the launch of Sentinel-1C, which will make it possible to continue real-time observations of icebergs and ice melt in Arctic areas as a form of monitoring the effects of climate change;
• 126 million euros for biodiversity conservation and climate change mitigation in Benin, Guyana and Tanzania;
• 24 million earmarked between 2022 and 2023 under the European Fund for Maritime Affairs, Fisheries and Aquaculture (EFMRA) for activities to support the regional organizations for the development of the region’s fisheries. Fisheries management, regional fishery management authorities. Fisheries and the implementation of relevant international agreements for the Atlantic, Pacific, Indian, Arctic and Southern Oceans and the Mediterranean and Black Seas;
• 1 million earmarked for the WTO’s funding mechanism for fisheries subsidies.

The first edition of the “Our Ocean” conference was held in 2014. Since then, the EU has launched more than 1,800 commitments for a total of approx. 101 billion, which has helped protect more than five million square miles of ocean.