ACCELERATING OUR OCEAN'S PROTECTION

Since 1971, the ocean has absorbed more than 90% of the excess heat caused by human-generated climate change, pushing it to the brink of collapse. The fact that the world is currently experiencing the largest coral-bleaching event on record is a warning sign of the dangers ahead. In fact, without urgent action, the ocean will soon cross a tipping point, threatening the extinction of marine life and millions of livelihoods.

- Rita Maria El Zaghloul

Fish are a key source of protein for about 3.3 billion people. More than 270 million workers are employed in the tourism sector, making it one of the world's largest industries, with seaside holiday destinations, such as the Bahamas and Seychelles, having a particularly high concentration of workers in tourism. Coral reefs alone provide goods and services valued at roughly $2.7 trillion per year. Biodiversity collapse and climate-related disasters could cost trillions of dollars in lost productive capacity, and have wide-reaching consequences for public health, economic stability and global security.

The international community has started to recognise the growing threats posed by ocean warming and acidification. The 2022 UN Biodiversity Conference (COP15) adopted the Kunming-Montreal Global Biodiversity Framework, which sets the ambitious target of conserving at least 30% of the world's land and seas by 2030, with a focus on areas that offer important ecosystem services. This “30-by-30” pledge reflects scientific consensus on the minimum level of protection needed to halt and reverse biodiversity loss. But efforts to meet this target have so far fallen far short: only 17.6% of land and 8.4% of seas are currently protected, with the latter increasing by just 0.5% since COP15.