Countries must do more to ensure sustainable development of ocean activities: a new OECD report says

Published: Thursday, 17 September 2020 Print Email

Sustainable Ocean for All OECD Report 2020

Countries need to work together to defend the ocean from a steady rise in temperature, pollution and overfishing that threatens its ability to continue supporting marine life and providing food and income to billions of people, according to a new OECD report.

Sustainable Ocean for All: Harnessing the benefits of sustainable ocean economies for developing countries says that with ocean-related economic sectors forecast to grow rapidly over the next decade, ensuring this development takes place in a sustainable way is critical.

Adopting more sustainable ways of managing the ocean is a global priority: protecting its health will bring benefits to all. Developing countries face specific challenges, as many depend heavily on ocean-based industries and are overly exposed to the consequences of ocean degradation. Enhancing their access to science, policy advice and financing would allow them to tap better into the opportunities of a more sustainable ocean economy, including more decent jobs, cleaner energy, improved food security and enhanced resilience, while contributing to the protection of the world’s ocean.

The OECD report provides policy makers in developing countries, as well as their development co-operation partners with a wealth of fresh evidence on (i) the latest trends in selected ocean-based industries; (ii) policy instruments, including economic incentives, to promote ocean sustainability in various contexts; (iii) the first review of development finance and development co-operation practices in support of more sustainable ocean economies, including a discussion of how development co-operation can help re-orient private finance towards sustainability.

Read the report Sustainable Ocean for All: Harnessing the benefits of sustainable ocean economies for developing countries here!

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