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SINGAPORE: The World Bank announced on Friday a global alliance to better manage and protect the world’s oceans, which are under threat from over-fishing, pollution and climate change.
Oceans are the lifeblood of the planet and the global economy, World Bank President Robert Zoellick told a conference on ocean conservation in Singapore. Yet the seas have become overexploited, coastlines badly degraded and reefs under threat from pollution and rising temperatures.
“We need a new SOS: Save Our Seas,” Zoellick said in announcing the alliance. The partnership woul
d bring together countries, scientific centres, non-governmental groups, international organisations, foundations and the private sector, he said.
The World Bank could help guide the effort by bringing together existing global ocean conservation programmes and support efforts to mobilise finance and develop market-mechanisms to place a value on the benefits that oceans provide.
Millions of people rely on oceans for jobs and food and that dependence will grow as the world’s population heads for 9 billion people, underscoring the need to better manage the seas.
Zoellick said the alliance was initially committed to mobilising at least $300 million in finance.
“Working with governments, the scientific community, civil society organizations, and the private sector, we aim to leverage as much as $1.2 billion to support healthy and sustainable oceans.”
