The 13th annual World Ocean Summit, hosted by The Economist in Montreal, took place this week at a critical moment for ocean decision-making.
This summit saw global leaders, innovators, policymakers, and ocean champions come together to move from commitments to action for ocean health and the blue economy.
The theme of the event was ‘Innovate, Protect, Prosper: Securing Our Ocean Future’ – a timely focus following the entry into force of the High Seas Treaty in January this year. Global frameworks like this give us the tools to strengthen international collaboration, and now is the time for critical conversations.
The blue economy encompasses key ocean-based industries – fishing, shipping, marine protected areas, plastics, nature-based solutions and ocean technology – all of which must be managed responsibly to create a healthy future for the seas.
Philanthropy, finance and corporate capital must all be strategically channeled to support ocean health. Just $1.2 billion currently flows to marine protection annually, yet $15.8 billion is needed to achieve 30×30 in the ocean and could unlock $85 billion in annual returns and avoided costs by 2050*.
With potential cuts coming to ocean funding mechanisms (https://lnkd.in/eYtVXzpF), now is the time to coordinate vital conversations on finance hashtag#ForTheOcean. We must call on our governments and leaders to channel funds to protect the blue.
*Source: the Ocean Protection Gap report
Read more here: The 13th Annual World Ocean Summit