On 12 December 2017, two years to the day since the historic Paris Agreement, Emmanuel Macron, President of the French Republic, Jim Yong Kim, President of the World Bank Group and Antonio Guterres, Secretary-General of the United Nations, will gather international leaders and committed citizens, in Paris.
The objective is to exchange on how public and private finance can innovate to support and accelerate our common efforts to fight climate change: a unique opportunity to highlight the need for concrete ocean-based solutions and the implementation of blue finance.
© Pete West / Fondation Tara Expeditions
The Decade of Ocean Science for Sustainable Development (2021-2030)
A step forward to the recognition of ocean-science as a cornerstone to fight climate change
Thanks to a strong mobilization from scientists, civil society and governments, the ocean has been at the core of UNFCCC COP23 with the organization of the 2nd Oceans Action Day and the launch of the Ocean Pathway Partnership – an initiative led by the Fijian Government and supported by the Ocean and Climate Platform.
Nevertheless, one of the main challenges underlined during this COP23 was the financing of ocean protection to fight climate change, and the building of synergies between private and public sectors to achieve this purpose: a challenge for which the solutions remain more theoretical than practical.
Yet, this question is central, as confirmed by the announcement of a Decade of Ocean Science for Sustainable Development (2021-2030) by the United Nations on 5 December 2017.
« Oceans must be front and centre in our response to climate change »
– Inia Seruiratu, High-Level Climate Champion of COP23
This statement aims at gathering ocean stakeholders worldwide behind a common framework that will ensure that ocean science can fully support countries in the achievement of the Sustainable Development Goal 14 for the conservation and sustainable use of the ocean, seas and marine resources.
To succeed with this objective, it is necessary to support the development of the ocean economy, including analyses of economic and social benefits from the sustainable use of marine resources and science-based management; and to increase scientific knowledge about the impacts of cumulative interacting stressors on biodiversity, such as ocean warming, acidification and habitat destruction. In any case, these goals require a greater involvement and support from the finance world.
The need for an ambitious ocean-science patronage
According to the Global Ocean Science Report from the Intergovernmental Oceanographic Commission of UNESCO (IOC-UNESCO) published on 5 December, the average national expenses dedicated to ocean-science represent only 0,04% to 4% of total investments in research and development.
However, a recent study of the Sea Foundation (in partnership with the Boston Consulting Group) evaluates the worth of blue economy to 270 billion euros, representing 14% of the French Growth Development Product (GDP). As a matter of fact, France has over 11 million km2 of Exclusive Economic Zone (EEZ), and holds the second largest maritime territory after the United States of America: a widely unexploited potential.
« We must rely on science to implement action »
– Françoise Gaill, OCP Vice-President
The Ocean and Climate Platform calls for an ambitious ocean-science patronage from both the public and private sectors. Funds flow have to be directed towards innovative and sustainable initiatives working every day on the ocean protection and hold up research to elaborate solutions for the future.
As mentioned by Torsten Thiele “Protection of biological diversity conservation in the High Seas to address anthropogenic threats to marine ecosystems requires a new, innovative finance approach”.
Accordingly, the Ocean and Climate Platform hopes that the One Planet Summit will be the occasion to implement an innovative and sustainable blue finance approach and calls for the emergence of blue philanthropy: Since “the ocean is not our last chance to combat climate change, but it definitely is our best chance” – Patricia Ricard, OCP Vice-President.