Pledge to protect oceans falling short of billions in funds: NGOs

Nations are spending less than 10 per cent of what is needed to meet a global target on marine conservation and must commit more at next week's UN oceans summit, non-governmental organisations (NGOs) said on June 5.

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PARIS -

In 2022, nearly 200 countries agreed to designate 30 per cent of the world's oceans as protected areas by 2030, but so far just 8.4 per cent are covered.

Some US$15.8 billion (S$20.3 billion) is needed every year to achieve the "30x30" target, but only US$1.2 billion is being spent now, said a new report by a consortium of environmental groups.

This gap is "alarming" and must be redressed at the UN Ocean Conference (UNOC) starting on June 9 in Nice, France, said Mr Jonathan Kelsey from the Bloomberg Ocean Fund, which co-authored the report.

"UNOC is a critical opportunity for governments to narrow this gap with concrete actions, including... increasing financing that truly delivers on their ocean promises," he said in a statement.