The European Union (EU) has committed EUR3.5bn (USD3.71bn) to a series of initiatives that protect the world’s oceans and promote sustainability, as reported by Reuters on April 16. It has announced a total of 40 commitments ranging from combating marine pollution to supporting sustainable fisheries. Specifically, up to EUR1.9bn from the EU’s Recovery and Resilience Facility (RSF) will be used to support investments and reforms in sustainable fisheries and aquaculture in Cyprus, Greece, Poland, and Portugal. Additionally, another EUR980m from the RSF will be allocated for combating marine pollution in Greece, Spain, Italy, Cyprus, and Finland. On top of that, about EUR134m will be directed to help African countries develop their blue economy, namely the sustainable use of marine and freshwater resources for economic activities.

These commitments were announced during the annual “Our Ocean” forum held in Athens this week, where over400 new commitments amounting to USD10bn are set tobe unveiled. These initiatives aim to protect the ocean from major threats such as excessive fishing, plastic pollution, loss of marine habitats, and the impacts of global warming. In February 2024, the average global sea surface temperature hit a record high of 21.06 degrees Celsius, posing risks of sea-level rise, seawater acidification, and reduced oxygen levels to marine ecosystems.

Sources:

https://www.reuters.com/world/europe/eu-spend-35-bln-euros-protect-ocean-environment-chief-says-2024-04-16/

https://ec.europa.eu/commission/presscorner/detail/en/ip_24_2049

https://www.dw.com/en/eu-pledges-35-billion-to-protect-worlds-oceans/a-68836625

https://www.reuters.com/business/environment/ocean-temperature-hit-record-high-february-2024-eu-scientists-say-2024-03-07/#:~:text=Ocean%20temperature%20hit%20record%20high%20in%20February%202024%2C%20EU%20scientists%20say,-By%20Gloria%20Dickie&text=LONDON%2C%20March%207%20(Reuters),(C3S)%20said%20on%20Thursday.

https://www.reuters.com/world/europe/eu-spend-35-bln-euros-protect-ocean-environment-chief-says-2024-04-16/

https://www.reuters.com/world/europe/eu-spend-35-bln-euros-protect-ocean-environment-chief-says-2024-04-16/

https://ec.europa.eu/commission/presscorner/detail/en/ip_24_2049

https://www.dw.com/en/eu-pledges-35-billion-to-protect-worlds-oceans/a-68836625

https://www.reuters.com/business/environment/ocean-temperature-hit-record-high-february-2024-eu-scientists-say-2024-03-07/#:~:text=Ocean%20temperature%20hit%20record%20high%20in%20February%202024%2C%20EU%20scientists%20say,-By%20Gloria%20Dickie&text=LONDON%2C%20March%207%20(Reuters),(C3S)%20said%20on%20Thursday.