€1bn pledged by EU to protect the ocean: The EU has pledged a €1 billion (£0.82bn) investment as part of its aims to protect the ocean.
It reestablished its pledge in regard to international ocean governance at the Our Ocean Conference (OOC) in Palau recently, which drew worldwide partners to recognise solutions to sustainably maintain marine resources, enhance the ocean’s resilience to climate change as well as look after its health.
Nearly €500 million (£413m) during 2021-2023 period will go to research, development & innovation in seed financing, in other words, to begin a business, for the Horizon Mission ‘Restore our Ocean and Waters by 2030’.
The ‘Mission Ocean’ will focus on the ocean and waters as one and perform an important role in accomplishing climate neutrality & restoring nature, upholding the EU objectives of protecting 30% of the member states’ sea area including restoring ecosystems, preventing & removing pollution by lowering plastic litter at sea & supporting the development of a sustainable and circular blue economy.
An additional €55 million of funding throughout 2 years will reinforce marine environmental monitoring including monitoring of climate change by way of its satellite programmes, Copernicus and WEkEO service.
“The sum the EU is committing today is significant but not as significant as the role that the ocean plays for our very existence. It provides us clean air, regulates the climate, hosts a large part of biodiversity on Earth & is key for our economy. The ocean is bringing all these benefits to us and we need to protect it. Our future depends upon it.” announced Virginijus Sinkevičius, Commissioner for Environment, Oceans and Fisheries.
€1bn pledged by EU to protect the ocean