A new EUR 14.5 million (USD 16.9 million) investment intitiave has been launched by the European Commission (EC) to further promote blue growth across the EU. The funding is a rapid response to the EU-hosted 2017 Our Ocean conference, held last month in Malta, and was confirmed ahead of the COP23 Ocean Day in Bonn.
Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella said that the EU had led the Our Ocean conference by putting the blue economy on the agenda for the first time and that it was now leading in the follow up.
“Today we launch a EUR 14.5 million investment initiative for green projects to safeguard our marine ecosystems. On ocean energy, tackling marine litter, and along Mediterranean coastlines, I am delighted that we are so quickly following up on our Our Ocean pledges," said Vella.
Funded under the European Maritime and Fisheries Fund (EMFF), EUR 8 million (USD 9.3 million) from the initiative is set aside to help SMEs, including start-ups, testing novel products and services in high-potential emerging blue economy sectors, including ocean renewable energy.
In order to better tackle the growing challenge of marine litter, a further EUR 2 million (USD 2.3 million) will target innovative technologies to prevent, monitor, remove and recycle marine litter from EU waters. Furthermore, EUR 3 million (USD 3.5 million) will support twinning projects in the Mediterranean Sea, including between maritime training and education institutions, blue economy businesses and local fishing communities.
Finally, EUR 1.5 million (USD 1.7 million) is allocated to restoring marine and coastal ecosystems in the Mediterranean, including mitigation of climate change.
At the Our Ocean conference, an unprecedented 437 commitments were announced, including EUR 7.2 billion (USD 8.4 billion) in financial pledges. The EU announced 36 commitments amounting to more than EUR 550 million (USD 640.9 million).
With regard to sustainable fisheries, the Our Ocean commitments included:
• The allocation of EUR 15 million (USD 17.5 million) by the EU under the PESCAO program for the improvement of regional fisheries governance in western Africa with the aim of developing a regional fishing policy, putting in place a regional coordination against illegal unregulated and unreported (IUU) fishing and improving fish stock management at regional level.
• The United States announced USD 5 million (EUR 4.3 million) for a program to combat forced labor and human trafficking on fishing vessels in the Asia-Pacific region
• Retailer Carrefour promised that half of all the fish it sells (both wild and farmed) will come from sustainable sources by 2020. To fulfil this commitment, it is working with its suppliers to select fish from healthy stocks, promote more selective catching methods, develop sustainable aquaculture by reducing antibiotics and using non-GMO feed, and fight illegal fishing.
• Microsoft co-founder and philanthropist Paul Allen extended his commitment to ocean conservation with a EUR 34 million (USD 39.6 million) investment to develop and deploy a near-real time illegal fishing intelligence and research program called SkyLight. Allen's company Vulcan Inc. is committing its resources across technology, artificial intelligence, aerospace and public policy to assist governments in the global fight against illegal fishing. Early adopters of SkyLight include Gabon and Palau.
• WWF announced a EUR 5 million, five-year program funded by a private foundation and delivered in partnership with the General Fisheries Commission for the Mediterranean, and other NGOs to transform the region’s small-scale fisheries.
