{"id":33613,"date":"2023-03-03T22:26:02","date_gmt":"2023-03-04T03:26:02","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=33613"},"modified":"2023-03-03T22:33:11","modified_gmt":"2023-03-04T03:33:11","slug":"us-eu-pledge-billions-ocean-aid-intl-conference","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/us-eu-pledge-billions-ocean-aid-intl-conference\/","title":{"rendered":"US, EU pledge billions in ocean aid at int’l conference"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Political and business leaders, environmental activists and academics at the two-day conference are grappling with how best to address a multitude of threats facing the oceans — from climate change and pollution to overfishing and mining.<\/p>\n

The Our Ocean Conference is “so incredibly important because it is a conference that is focused on action, not on talk. It’s about real commitments and real solutions,” White House climate envoy John Kerry said at the meeting’s opening.<\/p>\n

The former secretary of state announced US commitments of nearly $6 billion across 77 projects to protect the high seas in 2023, including technical cooperation to facilitate “green shipping corridors”.<\/p>\n

In a similar spirit, the European Union announced it would dedicate 816.5 million euros ($865 million) to ocean-related projects this year.<\/p>\n

A large slice of the EU money — 320 million euros — will go towards research to protect marine biodiversity and address the impacts of climate change on the seas, while another 250 million euros will help launch the Sentinel-1C satellite to observe ice melt and monitor climate change effects.<\/p>\n

“The ocean is part of who we are, and it is our shared responsibility,” EU environment, oceans and fisheries commissioner Virginijus Sinkevicius said in a statement.<\/p>\n

Panama President Laurentino Cortizo on Thursday signed a decree to enlarge the Banco Volcan Marine Protected Area (MPA) from 14,000 to 93,000 square kilometers (about 5,400 to 36,000 square miles).<\/p>\n

Panama will now conserve more than 54 percent of the ocean that falls inside its exclusive economic zone, said the country’s environment minister, Milciades Concepcion.<\/p>\n

Ocean ‘under pressure’<\/h4>\n

On the eve of the conference, representatives of the European Union, the United States, Latin America and the Pacific Islands called for a treaty on the high seas, which has been under discussion at the United Nations for more than 15 years, to be signed as soon as possible.<\/p>\n

Delegates have been meeting in New York since February 20 to conclude a text in the latest round of talks due to end Friday.<\/p>\n

The high seas, which are not under the jurisdiction of any country, represent more than 60 percent of the oceans and nearly half of the planet.<\/p>\n

UN Secretary-General Antonio Guterres called Wednesday for negotiators to conclude a “robust and ambitious” treaty on the high seas.<\/p>\n

“Our ocean has been under pressure for decades. We can no longer ignore the ocean emergency,” he said.<\/p>\n

Other topics on the Our Ocean agenda include expanding Marine Protected Areas and developing a sustainable ocean-derived “blue economy.”<\/p>\n

Covering three-quarters of the Earth, the oceans are home to 80 percent of all life on the planet, and provide nourishment for more than three billion people.<\/p>\n

Mining, overfishing<\/h4>\n

Since the first Our Ocean conference in 2014, participating nations have committed more than $108 billion and protected five million square miles of ocean, according to organizers.<\/p>\n

Observers say Our Ocean is the only conference to address all ocean-related issues under one roof.<\/p>\n

It also serves as a public stage for governments to show their political will.<\/p>\n

Conference delegates do not adopt agreements but rather announce voluntary “commitments” to ocean protection.<\/p>\n

The meeting occurs as multinational companies eye minerals on the ocean floor.<\/p>\n

These include so-called manganese nodules, settled on the seabed, that contain metals critical in battery production.<\/p>\n

Environmentalists say harvesting them could devastate deep-sea ecosystems.<\/p>\n

NGOs are also concerned about overfishing, pushing at the conference for satellites to monitor fishing fleets.<\/p>\n

“A third of commercial (maritime) species are over-exploited,” said Monica Espinoza of the NGO Global Fishing Watch.<\/p>\n

Governments must “require that their fishing fleets… are traceable full-time by satellite so that we know that they are fishing honestly,” Andrew Sharpless, executive director of the NGO Oceana, told AFP.<\/p>\n

Kerry announced that the United States, Panama and Fiji are in talks to create “green shipping corridors.”<\/p>\n

These would be reserved for low-carbon or zero-carbon vessels, according to experts, while also combating illegal catches and overfishing.<\/p>\n","protected":false},"excerpt":{"rendered":"

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