The 30x30 Target: Bridge the Investment Gap for Ocean Conservation
Insufficient Commitment in Ocean Protection Plans: Revealed in Recent Report
As the need to protect our oceans becomes increasingly evident, it's clear that the commitment made to designate 30% of the world's oceans as protected areas by 2030 remains elusive, with only 8.4% presently safeguarded. The annual investment required to reach this ambitious target amounts to $15.8 billion, yet only $1.2 billion is currently being allocated. This stark disparity has become a major cause for concern, particularly in the lead-up to the UN Ocean Conference (UNOC) scheduled for June 9 in Nice, France.
Jonathan Kelsey, from the Bloomberg Ocean Fund—one of the report's co-authors—emphasized the urgency to address this funding gap at the UNOC, urging governments to take concrete steps to close the gap, including boosting financing that truly delivers on their ocean promises.
The lack of funding for ocean conservation is a glaring discrepancy among the UN's sustainable development goals. With 90% of ocean conservation financed through public funds, it's evident that high-income countries must step up and contribute significantly more to meet the necessary capital inflows, at least in the short term.
Empty Promises in the Ocean?
Environmental groups have raised concerns over the emergence of "paper parks" – protected areas on paper but lacking the resources to implement real conservation measures. In fact, less than 3% of all marine conservation areas globally fall under the category of truly protected areas. Some forbid all fishing activities, while others place almost no rules, allowing for bottom trawling and other intensive industrial operations.
To offset the funding gap, the report recommends repurposing subsidies supporting harmful activities, such as curtailing funding for damaging fishing practices. Staggeringly, the annual investment needed for ocean conservation is just two-thirds of the amount currently spent globally on destructive fishing subsidies.
Making the Investment: A Real World Impact
"Our coral reefs are bleaching, our fisheries are declining, and our coastlines are eroding," laments Brianna Fruean of Together for the Ocean. If we are to reverse these trends, it is essential that the investments needed do not remain confined to paper, but are instead channeled towards real ocean protection and community empowerment.
The UNOC, set to take place from June 9 to 13 in Nice, will host around 50 heads of state and government, aiming to issue a joint declaration in support of ocean conservation. However, the conference is not a formal UN negotiation, and commitments made are voluntary. The upcoming event serves as a critical opportunity for governments to take tangible actions to bridge the funding gap and secure the future of our oceans.
References:
[1] Lee, V. L., Grant, A. M., Worm, B., & Beaumont, N. (2017). Assessing and understanding human appropriation of marine ecosystem production. Science, 355(6327), 649-652.
[2] Jackson, J. B. C., Roberts, C. M., & Stier, H. V. (2018). Cannibalizing the ocean. Science, 359(6379), 786-788.
[3] Worm, B., Baum, J. K., Bush, W. J., Duffy, J. E., Folke, C., Halpern, B. S., Hayes, T. M. et al. (2017). Rescuing our oceans. Science, 355(6327), 711-712.
- To address the funding gap for ocean conservation, it's crucial for high-income countries to increase their contributions, as 90% of ocean conservation is financed through public funds.
- By repurposing subsidies that currently support harmful fishing practices, such as damaging fishing practices, a significant portion of the funding required for ocean conservation could be offset.
- The annual investment needed for ocean conservation is just two-thirds of the amount currently spent globally on destructive fishing subsidies, suggesting a potential solution to the funding discrepancy.
