EU Pledges $3.71 Billion for Ocean Conservation Initiatives in 2024: What to Know
In a landmark move to advance ocean sustainability and conservation, the European Union is investing $3.71 billion across 40 action-based initiatives in 2024. This substantial pledge was announced by the EU’s Environment Commissioner at the Our Ocean Conference in Greece, marking the bloc’s largest commitment since the conference’s inception a decade ago.
The Our Ocean Conference, designed to gather international support for marine conservation and sustainable development, is the stage for the EU's major investment. This year, the EU aims to cover the event’s themes, including marine protected areas, marine pollution, sustainable fisheries and blue economies, ocean and climate change, and maritime security.
This drive for conservation comes at a crucial time, with the ocean facing unprecedented pressures from global warming, illegal fishing, pollution, and the loss of marine habitats. Recent data from the EU’s Copernicus Climate Change Service also indicates a record high in global ocean temperatures, further highlighting the urgency of the situation.
One of the EU's primary focus areas is sustainable fisheries, with a commitment of $2.02 billion from the Recovery and Resilience Facility to support resilience and recovery plans in Spain, Portugal, Greece, Cyprus, and Poland. This funding will drive reforms and investments in aquaculture and sustainable fisheries, key elements for ocean conservation.
The bloc is also dedicating $1.44 million to fund marine biodiversity in regions covered by the Marine Biodiversity of Areas Beyond National Jurisdiction Agreement (BBNJ), and another $25.5 million to protect and conserve marine ecosystems and biodiversity in the Maldives, the French Southern and Antarctic Lands, and Southern Africa’s Blue Benguela Current.
Additionally, the EU is supporting ocean observation programs and ocean model research for climate forecasts, alongside sustainable blue economies in Italy, Portugal, Mauritania, Western Africa, Mozambique, Angola, and the Mediterranean region.
A significant portion of the funding—$98 million—is allocated to securing a sustainable blue economy and restoring the ocean and seas through EU Mission: Restore our Ocean and Waters. These initiatives aim to revitalize the blue planet while promoting sustainable practices.
