Global Goals, Ocean Opportunities ABOUT THE UN GLOBAL COMPACT ACTION PLATFORM FOR SUSTAINABLE OCEAN BUSINESS As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals such as the Sustainable Development Goals (SDGs or 'Global Goals'). The UN Global Compact Action Platform for Sustainable Ocean Business (‘the Platform’) is taking a comprehensive view of the role of the ocean in achieving the 17 Global Goals. The aim is to explore attractive, viable solutions and best practices for sustainable use and management of the ocean. By bringing together the leading industries in aquaculture, energy production, fisheries and shipping with key banks, equity funds and insurance companies, the Platform has a cross-industry, cross-UN and cross-Global Goals approach. Leading up to the 2020 UN Ocean Conference, the Platform is designed to drive decision-making processes and catalyse partnerships to advance shared ocean priorities across all 17 Global Goals with a specific aim to scale up the commitments and performance of companies on this critical agenda. ACKNOWLEDGMENTS Editor: Bente Pretlove (DNV GL) Editorial Board: Ignace Beguin Billecocq (UN Global Compact); Robert Blasiak (Stockholm Resilience Centre); Erik Giercksky (UN Global Compact); Wenche Grønbrekk (Cermaq); Leif Håkonsen (DNB); Kim Jefferies (Gard AS); Clement Lavigne (Total); Erika Lindholm (Gard AS); Melanie Moore (Wilhelmsen); Hege Thomassen Magnus (Norwegian Shipowners’ Association); and, Kris Van Nijen (Global Sea Mineral Resources). Writing and editing support: CMAPS Global Special thanks for all the valuable discussions and contributions to this report go to: Members of the UN Global Compact Action Platform for Sustainable Ocean Business and Global Compact Local Networks COVER IMAGE CREDITS Lolame / Pixabay; Quang Nguyen vinh; Freezingtime / istock DISCLAIMER The inclusion of company names and/or examples in this publication is intended strictly for learning purposes and does not constitute an endorsement of the individual companies by the UN Global Compact. Furthermore, the report does not represent any official positions or views by the companies or organizations that are members of the UN Global Compact Action Platform for Sustainable Ocean Business. This report, from which no legal consequences may be drawn, is for information only. © 2019 United Nations Global Compact 685 Third Avenue, New York, NY 10017, USA June 2019 CONTENTS FOREWORD I A DECADE DEFINING A CENTURY II A MULTI-STAKEHOLDER APPROACH TO UNDERSTANDING THE OCEAN IV GLOBAL GOALS, OCEAN OPPORTUNITIES V OCEAN HEALTH 1 HEALTHY OCEAN — HEALTHY PLANET — HEALTHY PEOPLE 2 DELIVERING ON THE GLOBAL GOALS 4 CO-CREATION FOR A HEALTHY OCEAN 5 PRODUCTIVE OCEAN INDUSTRIES 9 THE IMPORTANCE OF TRANSPORT 10 OCEAN CRUISE TOURISM ON THE RISE 15 AN OCEAN HARVEST FOR THE WORLD 20 OCEAN ADDS TO THE ENERGY MIX 25 NEW FRONTIERS: A QUEST FOR MINERALS AND NOVEL DRUGS 31 WELL-GOVERNED OCEAN 37 HOW PUBLIC AND PRIVATE GOVERNANCE INTERACT 38 INSURANCE, CLASSIFICATION AND CERTIFICATION BODIES 40 FINANCE 42 REFERENCES 46 Global Goals, Ocean Opportunities “ The ocean provides food, energy, water, jobs and economic benefits for people in every country, Jean-Marc Ferré / UNHCR even those that are landlocked. It is a crucial buffer against climate change, and a massive resource for sustainable development. The health of our oceans and seas is inextricably linked “ with the health of our planet and all life on Earth. – H.E. António Guterres United Nations Secretary-General Opening remarks to the Ocean Conference, 5 June 2017 I FOREWORD: AN URGENT CALL TO OCEAN ACTION Every second breath we Nelson Mandela once famously said, “It always take comes from the ocean. seems impossible until it’s done.” Achieving the Connected to all life on this 17 Global Goals by 2030, now just over a decade planet, the ocean is our away, will be no small feat. Some already claim greatest global common, the realization of the 2030 Agenda for Sustainable Astrid Stawiarz/Getty Images for UN Global Compact uniting both people and Development is not just unlikely, but impossible. nations. How we protect But as this report lays out, the ocean can be the key and manage the ocean will determine much of to achieving the Global Goals. In the next decade, our success towards delivering the Sustainable we can: Development Goals by 2030, and businesses that are Improve ocean health by preventing pollution and connected to the ocean have a critical role to play. litter from entering the ocean. The United Nations Global Compact has a specific Map the ocean around the world, pioneering mandate to work with and inspire companies — of innovative research and discovering new insights. all sizes and from all regions and industries — to Make healthy food from the ocean available to all. act responsibly and find opportunities to advance sustainable development. I am encouraged that so Provide affordable, clean energy to people many businesses around the world are taking an everywhere. interest in our ocean sustainability work. The UN Global Compact Action Platform on Sustainable Produce low-emission solutions for global Ocean Business has brought diverse companies, civil maritime transport, facilitating a cleaner, more society organizations and Governments together to efficient provider of trade and growth. find new ways for companies to navigate the ocean As we approach 2020 and the decade of delivery challenge, using our Ten Principles on human rights, for the Global Goals, we must leverage ocean labour, the environment and anti-corruption as their sustainability, not only to protect the ocean itself, but North Star. to ensure people and planet can prosper and thrive. But in the lead-up to the second UN Ocean Through our Action Platform on Sustainable Ocean Conference in Portugal in 2020, much more work Business, the UN Global Compact will continue to must be done. We need to reach a tipping point where work with all partners to drive business action for the a critical mass of companies is working together ocean, helping to fulfil the core promise of the 2030 to ensure the ocean is sustainably managed. The Agenda: leave no one behind. interlinkages between the climate crisis and ocean Lise Kingo health cannot be ignored, nor can the connection CEO & Executive Director between the ocean and all 17 Global Goals. United Nations Global Compact The rapid deterioration of ocean health, which deeply affects biodiversity, coastal communities and the health of the planet, must be urgently addressed. As this report shows, this deterioration is, like climate change, caused by human activity. We need the capacity and competence of the business community to solve this challenge. Ensuring a healthy marine environment is not only necessary for many ocean companies to continue to operate in the long-term — innovating and investing in new ocean solutions also provides a significant business opportunity. II | Global Goals, Ocean Opportunities A DECADE DEFINING A CENTURY Throughout the history of humankind, no generation No single country, industry or entity can succeed before us has ever enjoyed more prosperous lives. in doing this alone. We need more international Likewise, no generation has ever before faced more cooperation, more global solutions and more urgent, important and consequential decisions. The extensive cooperation between the public and decisions that we do or do not make over the next private sectors. We need industry and corporations few years will define lives for generations to come. to come forward and step up as stewards of The decade to 2030 is one that will define a century. sustainable ocean practices, the core ambition of the UN Global Compact’s Action Platform on The choices we face are immediate and real. They Sustainable Ocean Business. should serve as an inspiration, as much as a burden, to us all. We do have the knowledge, technology When the Ocean Action Platform was launched in and means necessary to choose a trajectory of New York on World Ocean Day, 8 June 2018, we sustainable prosperity over a path of degradation and were excited and optimistic about the project. A destruction. It is for us to decide and act — now. short year later, our hopes and expectations have risen way beyond what we thought possible. The It is for our generation to demonstrate the dedication and determination demonstrated by the stewardship, leadership and determination required participating companies and organizations have been to find the common solutions for 'The Future as impressive and inspiring as the commitment and That We Want', as laid out in the 17 Sustainable competence contributed by the members of the Development Goals for 2030. project group. The workshops conducted with the The ocean, our most important global common, Global Compact’s regional and national organizations is key to achieving these goals. There are few around the world have added valuable insights and other environmental or human domains where energizing inspiration. the risks of failures and rewards of success are In this report we endeavour to elaborate on how to more pronounced. The ocean is merciless and protect and preserve the ocean while concurrently generous. It embodies our dilemmas, challenges producing more from it. We must achieve all of this. and opportunities. The ocean is in a dire state, it is The decade to 2030 will ensure 'The Ocean That We weakly governed and poorly managed. We must Need — for The Future That We Want'. restore ocean health, biodiversity and productivity. Concurrently, we must tap more of the generous potential of the ocean to provide food, energy, Sturla Henriksen minerals, medicines and transportation to serve a Special Advisor, Ocean rapidly growing world population. United Nations Global Compact Erik Giercksky Head, Sustainable Ocean Business United Nations Global Compact III GLOBAL COMPACT LOCAL NETWORKS Countries with Local Networks Established in June 2018, the UN Global Compact Action Platform for Sustainable Ocean Business focus on growth, innovation and sustainability, exploring multi-stakeholder action for a healthy, productive and well-governed ocean. The Platform aims to mobilize the private sector to take tangible action, make investments and form partnerships to leverage the ocean as a resource to deliver the Global Goals. In addition to the Platform Patrons, Participants and Partners, the Platform has an Advisory Group and engages directly with Global Compact Local Networks. Patrons Participants Partners UN and Governments IV | Global Goals, Ocean Opportunities A MULTI-STAKEHOLDER APPROACH TO UNDERSTANDING THE OCEAN Approximately 300 companies, organizations, academic This report is published by the United Nations Global institutions and non-governmental organizations Compact, with key editorial input from DNV GL and (NGOs) have been involved, consulted or taken part in an editorial board from a wide range of platform members. The impetus for producing this report workshops leading up to the writing of this report. came from the UN Global Compact Action Platform The Platform surveyed stakeholders to investigate the for Sustainable Ocean Business. This does not mean potential impact and relevance of each Sustainable that individual companies, organizations or academic Development Goal to ocean industries, considering partners necessarily agree with or endorse all both direct and indirect impacts. The respondents the contents in this report, or that it reflects their individual sustainability approaches or practices. ranked the Goals and targets they contribute towards The development of this report underscores a and were asked to provide examples of their work. much-needed openness for discussion and debate on Goal 14 (Life Below Water) alongside the need for the future of the ocean. All participants have eagerly partnerships and peace, justice and strong institutions supported the need for a report such as this to push (Goal 17 and Goal 16) were generally seen as being of the conversation forward. overarching importance to deliver a productive ocean. Collectively, all the interacting Global Goals feature as shown in the graphic on this page. Those that are enlarged were highly prioritized by the respondents when taking an ocean perspective and therefore receive more focus within this report. In the workshops, however, it should be noted that several cross-cutting issues and targets related to— for example — gender, equality and education were also considered highly relevant. There are great differences in how ocean industries assess their contributions towards the achievement of the Global Goals. This is dependent on their products or services, whether they have a local or global scope and where they operate in the world. There is no surprise that describing the state of the ocean and seeking future solutions and opportunities generate a considerable amount of inputs, facts and opinions. V GLOBAL GOALS, OCEAN OPPORTUNITIES This report is divided into three parts covering the linkages between a healthy, productive and well-governed ocean and the 17 Global Goals. Ocean productivity is dependent on ocean health, and a well-governed ocean is a key enabler to manage the related threats and opportunities. HEALTHY PRODUCTIVE LIFE OCEAN OCEAN TRANSPORT MINERALS CLIMATE OCEAN OCEAN FOOD MEDICINE BIO OCEAN OCEAN DIVERSITY ENERGY TOURISM Climate change is the overarching threat to Meeting the needs of a growing world population ocean health, which is also under pressure and bringing healthy food and resources to from the over-exploitation of natural billions of people must be done sustainably. resources, habitat destruction, pollution and Ocean productivity can meet the needs of the marine littering. These challenges can be Future We Want. turned into long-term business opportunities for the Ocean We Want. WELL-GOVERNED Strong public and private governance mechanisms and responsible finance are preconditions GLOBAL and enablers for a healthy and PARTNERSHIPS PRINCIPLES productive ocean. Our 'Sustainable Ocean Principles' will provide guidance for the World we Want. alxpin / iStock Ocean Health | 1 OCEAN HEALTH ty Ocean Health Threats Oc CLIMATE CHANGE WASTE & PLASTIC HABITAT DESTRUCTION Climate change is the overarching threat to ocean health, which is also Ocean health OVERFISHING under pressure from is significant to our over-exploitation planet’s overall health. of natural resources, Understanding the pressure habitat destruction, TITUTIONS points of ocean health needs a POOR GOVERNANCE pollution and planetary approach. marine litter. Our direct and indirect interactions with the ocean have resulted in far-reaching ecological changes. All industries need to play their part in advancing the There is a serious risk that future generations will Global Goals and work to integrate business models experience a very different ocean, one characterized by and technologies that take threats to the ocean into degradation, depletion, pollution and littering. Urgent consideration. Some international regulatory regimes action at local and global levels is needed to address have already specifically codified the precautionary threats from climate change, habitat destruction, principle, but even in areas where current governance overfishing, pollution, littering and poor governance. regimes are weak, a precautionary approach is needed to build up responsible and sustainable Ocean-based industries can have a substantial activities. The sphere of influence of industries impact on some of these areas. Mitigating or extends far beyond their direct operations and eliminating threats, such as climate change, pollution connects to global supply chains, consumer behavior and marine litter will require not only a paradigm and local communities. shift in terms of mainstreaming sustainability into business operations, but also substantial coordination between Governments and ocean industries and their land-based counterparts. 2 | Global Goals, Ocean Opportunities CEiiA / Portugal HEALTHY OCEAN HEALTHY PLANET HEALTHY PEOPLE The health of the ocean, the planet and humanity itself are inseparable. The ocean covers more than OCEAN HEALTH TODAY 70 per cent of the surface of our planet. It contains The ocean is home to millions of 99 per cent of the habitat for life, generates over species, spanning complex habitats. half the oxygen we breathe, and more than one Marine microbial diversity may involve third of the world’s population lives along its coasts billions of unknown taxa and represents an enormous (OHI, 2019). The ocean shapes Earth’s climate and natural resource. has absorbed more than 90 per cent of the extra heat trapped due to anthropogenic greenhouse gas  uman wellbeing is tied to the ocean. It provides H (Resplandy et al., 2018). It fosters ocean-based everything from nutrition to medicines and more than industries employing millions, which generate half the oxygen we breathe. trillions of dollars in value for the global economy  healthy ocean is also linked to a wide range of A every year. cultural benefits, and tourism is among the fastest growing sectors within the Blue Economy. A healthy ocean ‘sustainably delivers a range of benefits to people now and in the future’ (OHI, 2019). Coral reefs and mangrove forests are among the These benefits are diverse and vast in scale, hence marine ecosystems that provide protection against actions to keep the ocean healthy must be a priority. extreme weather events, and nurseries for juvenile Marine fisheries provide 57 million jobs globally and fish, and need to be protected. provide the primary source of protein to over 50 per cent of the population in least developed countries. Many coastal ecosystems, including coral reefs, mangrove forests, salt marshes, seagrasses and wetlands act as a natural buffer against extreme Ocean Health | 3 weather events (Barbier, 2017). The ocean is also recent years; for instance, 30 per cent of coral cover home to diverse habitats ranging from coral reefs in the iconic Great Barrier Reef died within the span of to hydrothermal vents, where life has adapted nine months due to a 2016 heat wave (Hughes et al., over thousands of years to extremes of heat, 2018). In 2019, the Intergovernmental Science-Policy cold, pressure and darkness. These adaptations Platform on Biodiversity and Ecosystem Services encoded in the genes of organisms that live there (IPBES) Global Assessment found that a million are drawing the interest of a rapidly growing marine animal and plant species are at risk of extinction, and biotechnology industry (Blasiak et al., 2018). emphasized that transformative changes are needed in order to restore and protect nature. Looking beyond these highly tangible benefits provided by the ocean, it is also crucial to note The menace of overfishing the recreational, aesthetic and spiritual benefits A third (30–35 per cent) of fish stocks are fished that people derive from the ocean (Barbier, 2017). unsustainably, and an additional 60 per cent are fully “ Thousands of fished to the maximum of what can be sustained. years of close Overfishing poses a major health risk to much of the human-nature developing world, where substitutes for nutritionally interactions rich fish are scarce (Golden et al., 2016). While some When the Amazon along coastlines collapsed stocks rebound following a moratorium, sneezes, Kenya catches a cold. “ —Ivan Ochieng, Director, Green Pencils, Kenya, have resulted in diverse and rich traditions among indigenous, local and global others have not, signifying a permanently altered ecosystem and potential loss of economic benefits and livelihoods. Gaps in global governance can result in displacement of poor behaviour (e.g. illegal fishing) into areas with limited monitoring or enforcement and Board Member, communities. capacity (Blasiak, 2015). Many threats facing the Global Compact Network Korea The wellbeing ocean are transboundary and require cooperation of these and coordination among diverse states. International communities governance and regulatory frameworks vary widely is immediately and visibly linked to the health of across ocean-based industries and lack coherence the ocean, and illustrates how, on a global scale, across sectors. The need for appropriate governance humanity itself relies on the ocean. is becoming even more pressing in the face of The threats to ocean health today are substantial modern, more-efficient fishing methods. and growing. Climate change, pollution and marine littering, habitat destruction, overfishing and poor governance are among the direct and indirect causes. Climate change and changing ocean conditions are causing fish stocks to decline and to shift (Free et al., 2019; Pinsky et al., 2018). Plastic pollution is ubiquitous throughout ocean food systems. It has unpredictable human and ecosystem health impacts, the results of which are being increasingly observed. Agricultural runoff and coastal developments are impacting on and altering the natural balance of marine ecosystems, and may affect sensitive species like coral reefs, or stimulate overproduction of algae. Coral bleaching has devastated reef ecosystems in 4 | Global Goals, Ocean Opportunities Delivering on the Global Goals Achieving the targets under Goal 14 on Life Below As the climate changes, it is also reshaping the Water has been connected through co-benefits ocean, causing extended ocean heat waves that to all the other Global Goals. This illustrates the have a massive effect on all marine life. Examples interlinkages between the goals and the central include ocean heat waves that result in mass coral- position of healthy and functional ecosystems — and bleaching events and shifts in the distribution of no ecosystem is as large as the ocean. marine fish stocks (Goal 13: Climate Action). Ocean biogeochemistry is also changing, with impacts for Some of the most immediately tangible linkages are the structure of ecosystems, food webs, invasive associated with nutrition. For many of the world’s species and other biotic interactions. low-income food deficit countries, the ocean is a crucial source of protein and micronutrients for Waters are growing increasingly acidic as they absorb which local alternatives and replacements are more carbon dioxide. Dead zones around major river largely absent. In such areas, there is a strong risk deltas are expanding due to ocean warming and that degraded ocean ecosystems will result in runoff from agriculture (Goal 12, Goal 15: Life on negative health outcomes (Goal 2: Zero Hunger, Goal Land). In some cases, the result has been vast algal 3: Good Health and Well-Being) (Golden et al., 2016). blooms posing a risk to human health and marine An estimated 820 million people depend directly life through effects including eutrophic depletion of on aquaculture and fisheries for their livelihoods, oxygen, and/or toxicity (Goal 3). the majority in low- and middle-income countries, Momentum must be maintained to accelerate and are dependent on continued ocean health and progress towards conserving marine and coastal productivity (Goal 1: No Poverty). areas (Goal 14) as well as agreeing upon ambitious More than 600 million people live in coastal areas, post-2020 marine and coastal conservation targets and 40 per cent of the global population lives within which will restore and build resilience of the ocean. 100 kilometres of the ocean.1 This aggregation of The future of the ocean is particularly reliant on communities along coastlines adds to pressure good governance and effective regulation (Goal 16: on marine ecosystems through industrial activity, Peace, Justice and Strong Institutions). A growing pollution and littering (Goal 12: Responsible body of literature is underscoring the connectivity of Consumption and Production). Many coastlines ocean systems. This means that regional and global are also increasingly vulnerable to extreme approaches and partnerships are needed to ensure weather events and storm surges due to removal the health of transboundary fish stocks, reductions or degradation of natural protective features like in marine pollution, and vibrant coastal ecosystems mangroves, barrier islands and coral reefs (Goal 11: (Goal 16, Goal 17: Partnerships for the Goals). Sustainable Cities and Communities). Yet the ocean offers opportunities for renewable energy such as offshore wind, wave and tidal, the full potential of which is being explored (Goal 7: Affordable and Clean Energy). 1 UN, ‘Factsheet: People and Oceans’, Publ. for the Ocean Conference, UN, NY, 5–9 June 2017, www.un.org. Ocean Health | 5 CO-CREATION FOR A HEALTHY OCEAN RainervonBrandis / istock Partnering to collect ocean data Scientists working to understand the ocean and seabed cable, commercial fisheries, offshore how it is changing rely on data. They face major renewables. Scientists and industry agree, however, challenges including the size of the ocean and cost that more can be done to make data available and of chartering vessels or remotely-operated vehicles useable without creating risk for those providing it to collect samples and monitor change over time. (McMeel et al., 2017). Innovative partnerships with ocean-based industries Our discussion on Ocean Food includes details are helping to address this. of a non-profit organization with business links For example, more than 2,000 commercial vessels using tracking satellites and state-of-the-art data contribute daily through the Voluntary Observing analytics to offer free locational and other data on Ships Scheme to collect and transmit oceanographic vessels engaged in large-scale fishing. In addition, and meteorological data for scientific use.2 electronic tracking tags on ocean fish can report Monitoring of marine litter and plastics also takes back on temperature, pressure and other physical place. The oil and gas industry collect a lot of seabed parameters of the water they are moving through. As monitoring data and many of these databases are discussed in the New Frontiers chapter, there is also available for scientific purposes.3 There are also scope for larger and more collaborative efforts in examples (ABPmer., 2015) from other sectors: bioprospecting and remote sensing. 2 World Meteorological Organization - Intergovernmental Oceanographic Commission (WMO-IOC) Joint Technical Commission for Oceanography and Marine Meteorology, ‘The Voluntary Observing Ships (VOS) Scheme’, www.jcommops.org. 3 Oil & Gas UK, ‘UKbenthos Database 5.10’, oilandgasuk.co.uk. 6 | UN GLOBAL COMPACT PROGRESS REPORT 2018 Jag_cz / istock Ocean Health | 7 PUTTING BUSINESS ON THE CASE THE PLASTICS CHALLENGE Plastic in the ocean comes from of plastic waste available to enter the technologies and business models human activity on land and sea. ‘All ocean from land will rise by an order to prevent ocean plastic waste and sectors and people contribute to this of magnitude by 2025. Others reckon improve waste management and pollution — from poorly controlled waste 90 per cent of plastic entering the recycling in South and Southeast Asia. sites, illegal dumping and mishandled ocean from rivers is carried by just It is a partnership with a non-profit waste on land to ropes, nets and other 10 of them, usually in areas of high organization8 promoting ocean clean- debris from fishing, ships, oil rigs and population and with mismanaged plastic up. The first project, supported by the other sources’.4 Many companies are waste (Schmidt et al., 2017). It is widely Australian Government, is the Ocean pursuing or setting up action plans to accepted that broad strategy against Plastic Prevention Accelerator (OPPA)9 prevent, manage and recycle plastic this must be based on circular economy for Indonesia. Another suggestion is approaches preventing plastic waste and that businesses could support circular encouraging its recycling and reuse. economy efforts through ‘plastic crediting’ for global seafood and other Encouragingly, companies are preparing food manufacturers. As envisaged, this to escalate their response to these could fund reuse initiatives, recycling, challenges by approaching them biodigesters and development of local as business opportunities. Several sustainable biodegradable alternatives. including oil and gas operators are part of the Alliance to End Plastic Crunching the numbers Waste.5 This non-profit organization Academics are meanwhile developing has pledged US$ 1.5 billion over methods to quantify the feasibility five years for projects on waste and effectiveness of plastic recovery management infrastructure, education solutions from the ocean, rivers and and engagement, innovation and waterways.10 Such knowledge can clean-up efforts. A campaign called convert problems into value. It enables Renew Ganga to reduce river plastics guidance on designing recovery was launched in India in 2019 to target solutions, identifying key parameters areas around the Ganges, which and their linkages, analysing the nycshooter / istock delivers an estimated 0.5 million economics of recovery, and priorities tonnes of plastic waste into the ocean waste that could otherwise end up in for scientific research. Further, lifecycle annually.6 Renew Ganga is driven by the ocean. However, much more action cost analysis of plastics management a private company founded to be a is needed to counter the rate at which will require appropriate data such as technology leader in chemical recycling plastic is entering marine environments water use in recycling, and traceability of non-recycled plastic back into new and food chains. One estimate of total of plastics. Participants in this report valuable products. plastic input to the ocean is around eight suggest this could be enabled by a million tonnes per year, and about 80 per Elsewhere, specialist investment distributed platform for aggregating cent is attributed to land-based sources managers and innovation enablers data and facilitating the sharing (Jambeck et al., 2015). It predicts that are behind The Incubator Network of standards and data between without better waste management initiative.7 This aims to drive organizations. infrastructure, the cumulative amount entrepreneurial development of new 4 UN Environment Programme and GRID-Arendal, ‘Marine Litter Vital Graphics. UN Environment Programme and GRID-Arendal’, 2018, www.unep.org., and www.grida.no. 5 See endplasticwaste.org. 6 Renewlogy, ‘Renew Ganga Project’, renewlogy.com. 7 Circulate Capital, ‘The Incubator Network by Circulate Capital and SecondMuse’, circulatecapital.com. 8 Ocean Conservancy, ‘The Ocean Starts With You’, oceanconservancy.org. 9 SecondMuse, ‘Ocean Plastic Prevention Accelerator’, oppa.id. 10 Telouw, V., ‘Turning a problem into value: The case of plastic reaching the ocean’, 7 November 2017, https://resolver.tudelft.nl. Freezingtime / istock Productive Ocean Industries | 9 PRODUCTIVE OCEAN INDUSTRIES Ocean Productivity O Opportunities TRANSPORT FOOD ENERGY MEDICINE A healthy ocean can be a MINERALS productive one for the good of the planet and its people. Our report builds on how the commercial STRONG INSTITUTIONS activities of ocean-related businesses are already impacting on the Global Goals. We look at how they The ocean economy covers both are starting or planning to align doing good business established sectors such as transport, with shaping a sustainable future, and what it will take food and energy and the emergence to get there. of new industries related to the It encourages belief that private sector innovation and development of medicine and extraction investment within strong public and private governance of minerals. frameworks can sustainably deliver greater quantities of healthy food; secure and affordable clean energy; more efficient and lower-carbon transport; and, greater tourism and trade to widen the related spread of economic and social benefits while avoiding increasing negative consequences. New frontiers are also opening up through research and development aimed at sustainably mining abundant seabed minerals vital to technologies needed for decarbonizing human activities. Bioprospecting seeks potentially life-saving new drugs from marine organisms. 10 | Global Goals, Ocean Opportunities AvigatorPhotographer / istock THE IMPORTANCE OF SUPPORTING DECENT WORK TRANSPORT AND ECONOMIC GROWTH Shipping is regulated globally by the Since the era of sailing ships, shipping has turned International Maritime Organization (IMO). the ocean into a bridge connecting continents and The role of port-state control is to secure nations and oceanic shipping routes are the global the enforcement of international conventions regulating economy’s arteries. Shipping is a large, growth environment, safety and the work environment. Ships are business spreading economic and social benefits registered in over 150 nations and manned by a million-plus as the focus of a maritime cluster: shipyards, seafarers. designers, manufacturers and service providers.11 More than 50,000 merchant ships carry over 80 per cent of trade by volume with almost 11.7 billion tons of goods Seaborne transport is projected to increase in all loaded in 2017.12 trade segments except crude oil and oil products. Ships, maritime technology and shipping services A 39 per cent rise in seaborne trade tonnes is forecasted are also instrumental in supporting growth in between 2016 and 2030, and a two per cent annual rise for the offshore renewable energy production and the period from 2030 to 2050. harvesting of seafood. Enabling sustainable global Workers and infrastructure in developing countries handle trade, through which all nations can produce and almost two thirds of goods loaded and unloaded. bring to market what they are best at, is vital to the world economy and future growth. With global Developing countries are arising as suppliers of maritime transport services including, among others, shipbuilding and trade today linked more than ever with local registration as well as terminal handling operations.14 economies, shipping will be a key factor in reaching the Global Goals. 11 DNV GL and Norwegian Shipowners’ Association, ‘Sustainable Development Goals: Exploring Maritime Opportunities’, 6 June 2017, viewable at rederi.no. 12 UN Conference on Trade and Development (UNCTAD), ‘UNCTAD Handbook of Statistics 2018 — Maritime transport’, unctadstat.unctad.org. Productive Ocean Industries | 11 Delivering on the Global Goals While transporting more than 80 per cent of the shipping by 2050 compared with 2008.15 IMO world’s goods (Goal 2), shipping recognizes its requirements16 and public-private partnerships17 responsibility to minimize its impacts on sea and are driving improvements in energy efficiency and land. International conventions regulate discharges assessing how to decarbonize shipping supply chains of pollutants and waste from ships13, and help to (Goal 12). The work and cooperation between the lower the risk of vessels moving invasive aquatic IMO and the industry should be an inspiration for species over long distances.14 (Goal 14). The IMO has other ocean industries, with transparent and open strategy to at least halve annual greenhouse gas dialogues on the governance of the sector. (GHG) emissions (Goal 13) from international SHIPPING ENERGY MIX 14 12 10 Exajoules per year 8 6 4 2 0 2040 2049 2046 2030 2048 2050 2043 2045 2020 2039 2042 2036 2047 2038 2033 2029 2035 2026 2028 2041 2044 2023 2032 2025 2037 2019 2016 2022 2018 2027 2031 2034 2021 2024 2017 Electricity Liquefied Natural Gas Carbon-neutral fuels Heavy Fuel Oil/ Marine Gas Oil If IMO GHG targets are met, 39 per cent of shipping energy will be from carbon-neutral fuels, surpassing liquid fossil fuels, by 2050. (Source: DNV GL, ETO 2018) GROWTH IN PASSENGER CAPACITY OF CLIA MEMBER LINES CLIA Global ocean cruise passengers 30 (Millions) 20 13 International Convention for the Prevention of Pollution from Ships (MARPOL). 14 International 10 Convention for the Control and Management of Ships’ Ballast Water and Sediments. 15 Annex 11 of Resolution MEPC.304(72), adopted 13 April 2018 by Marine Environment Protection Committee (MEPC) of the IMO. 16 e.g. Energy Efficiency Design Index for new ships; the Ship Energy Efficiency Management Plan for all ships; and, the Energy Efficiency Operational Indicator data collection system for fuel oil consumption of ships. 17 e.g. Global maritime energy efficiency partnerships (GloMEEP), a Global Environment Facility-UN Development Programme (UNDP)- IMO project supporting uptake and implementation of energy-efficiency measures for shipping. 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 p 2019 p Year (p = projection) 12 | Global Goals, Ocean Opportunities ranplett / istock OCEAN TRANSPORT IS THINKING GLOBALLY AND ACTING LOCALLY ROOTING OUT CORRUPTION FOR FAIRER TRADE The Maritime Anti-Corruption Network (MACN) is a global business network working towards the vision of a corruption-free maritime industry enabling fair trade to the benefit of society at large. The organization and its members are working to eliminate all forms of maritime corruption by: raising awareness of the challenges faced; implementing MACN Anti-Corruption Principles; co-developing and sharing best practices; collaborating with Governments, NGOs and civil society to identify and mitigate the root causes of corruption; and, creating a culture of integrity within the maritime community.20 Pixabay PREVENTING BIOINVASIONS IN LOCAL COMMUNITIES The IMO-executed GloFouling Partnerships project will address bioinvasions by organisms which can build up on ships’ hulls and other marine structures.21 In new marine environments they can affect biodiversity, ecosystem health, and damage fisheries, aquaculture and ocean energy. This is a collaboration between GEF, UNDP and IMO with 12 countries spearheading the work.22 The alliance will forge deeper partnership between maritime businesses, the public sector and NGOs towards shared goals. istock LOWER-CARBON VESSELS TO AID CLIMATE ACTION Lower-carbon vessels with electric, hydrogen fuel-cell and hybrid propulsion systems are few but increasing. Local emissions from mostly smaller vessels such as ferries are being reduced in some places by using vessels with batteries for electric or diesel/ electric hybrid propulsion.23 Alternative fuels for shipping are starting to contribute to action on climate change. Liquefied Natural Gas (LNG), Liquid Petroleum Gas, methanol and hydrogen look promising.24 DNVGL 20 Viewable at maritime-acn.org. 21 IMO, ‘GloFouling project kicks off to protect marine biodiversity’, press briefing, 23 March 2019, viewable at www.imo.org. 20 Brazil, Ecuador, Fiji, Indonesia, Jordan, Madagascar, Mauritius, Mexico, Peru, Philippines, Sri Lanka, and Tonga. 21 Maritime Battery Forum, ‘Ship register reaches 300 mark’, February 2019, maritimebatteryforum.com. 22 DNV GL, ‘Alternative fuels in shipping — assessment paper’, April 2018, dnvgl.com. Productive Ocean Industries | 13 SHAPING THE FUTURE Shipping and the maritime offshore sector have Digitally enabled centralized operations raising the high ambitions to contribute more and quicker to sustainability of seaborne transport can enable achieving Global Goals as an industry and in cross- greater ocean use, supporting economic growth sectoral initiatives. Forward-looking IMO international and trade. By establishing strong climate-change regulations set framework conditions to drive credentials, shipping can make a strong case for an change and higher standards of operation. Within enhanced role in cross-sectoral efforts on climate. this framework, shipping is able to re-set course to Ships can carry a higher volume of goods than trucks, exploit new technological opportunities that can enabling a lower environmental footprint per item or “ assist it to support the Global Goals. volumetric measure of cargo. In many circumstances, shifting cargo and passenger transport from land to To future-proof ships for decarbonization, interest sea can cut emissions. is rising in the idea of ‘carbon-robust’ ships that can be customized over their lifecycles to adjust As an employer, Our future depends for new regulations and technologies/fuels.23 Other shipping continues on healthy oceans. opportunities lie in vessel speed to reduce fuel use, to adopt health and safety rules and/or As the use of the and incentives like low-emission requirements in public procurement. guidelines from IMO, world’s oceans the Maritime Labour intensifies due to the For short-sea shipping, autonomous and auto- remote ships can enable better safety at sea, Convention (MLC) increased activities of the International more cost-efficient ship transport, and improved of ocean-based Labour Organization environmental performance. They are already on (ILO) of the UN, and industries, and as the agenda, but it is unclear to what extent future the International more stakeholders vessels will be completely remotely operated or will Convention for the get involved, there have partial manning. Safety of Life at Sea is a need for closer (SOLAS), but can Advanced data analytics, machine learning, and do better. The fatal collaboration and the Industrial Internet of Things are enabling more efficient use of resources. They allow greater sharing accident rate on ships communication of knowledge and best practice in a more transparent industry. Better and smarter sensors, lighter and more powerful batteries, and wireless technologies assist and widen research into meteo-oceanic data, marine biodiversity and pollution. is about 6 per 100 million working hours, some 10 times higher than the Organisation for Economic to ensure the sustainable development of activities in our “ Co-operation and oceans. —Kitack Lim, Optimizing route planning makes better use of Development average Secretary-General, IMO shipping fleets and avoids unnecessary time in port, for all industries.24 reducing local emissions. Whilst at port, shore-based power can further reduce local emissions. Slow- There is now a clear expectation from buyers, cargo steaming can reduce emissions and energy use but owners, financiers, markets and consumers that all would need acceptance of slower sea transport and parts of the value chain should be doing their part. As reduction of cargo transported in a year. a major purchaser within a wider industry, shipping can influence suppliers to ensure safe and decent working conditions along the supply chain. 23 DNV GL, ‘Energy Transition Outlook 2018: Maritime Forecast to 2050’, September 2018, view at eto.dnvgl.com. 24 Fairplay by IHS Markit, ‘2010–2011 World Casualty Statistics’, viewed at ihsmarkit.com. 14 | Global Goals, Ocean Opportunities PUTTING BUSINESS ON THE CASE SET SAIL FOR ZERO Shipping enables world trade, connecting individuals and goods so people can produce what they are best at and consume what they desire in one global market place. To fulfil this role responsibly and with social license to do so, its future must be zero emissions and pollution, particularly with the expected emergence of new shipping routes in pristine and Brodrene Aa. sensitive environments due to loss Enablers Call to action of sea ice. Technology and operational As in most technology research, The pace of the transition choices in shipping rely on development and full use, there towards these goals will differ market conditions including the is commercial tension between between industry segments such requirements of cargo owners, early and on-time implementation as tankers and ferries. However, regulatory frameworks, and of new technologies. In this the sector is investing in three access to finance and innovative mosaic of interacting forces on main technical developments to technologies. Preferences or shipping’s decarbonization and enable its ‘voyage to zero’. One demands from consumers and anti-pollution efforts, we need is vessel design and engineering, cargo owners for products and to see effective enforcement of with scope here for greater cross- services that are cleaner across framework conditions to bring sectoral technology transfer. lifecycles and value chains all players to at least the same Another is access to alternative including shipment can drive standard, but without encouraging fuels, which depends on global vessel owners to order ships an attitude that achieving the bare energy supply dynamics. The that are appropriately designed minimum is sufficient. This would third technical enabler is digital and equipped. A continuing trend provide greater certainty and connectivity. It can, for example, towards increased and more clarity on technical qualification assist route optimization for goals global regulation of maritime requirements, certification, including emissions reduction emissions and pollution also verification and classification, alongside business benefits drives the pace and evolution of thus giving added impetus to such as reduced costs. Such technologies that can provide technology solutions still being connectivity also facilitates global solutions at the right price. The developed. cross-sectoral collaboration finance community can play including shared logistics a role by continuing to make efficiencies that can also reduce greener activities more attractive, emissions across supply chains. or requiring them. Productive Ocean Industries | 15 redtea / istock OCEAN CRUISE TOURISM ON THE RISE OCEAN CRUISE TOURISM TODAY Supporting an estimated 1.1 million full-time equivalent jobs27 lets the Ocean-related tourism is a US$ 134 billion per cruise industry influence its supply year growth industry according to the Cruise chains to produce responsibly. Lines International Association (CLIA).25 Managed responsibly, cruising can contribute to the Global The industry says it recycles 60 per cent more waste per head than the average person does on land.28 Goals through generating economic growth and quality work for all including women and young Some cruise operators are working with local people. Nearly 27 million cruise passengers in 2018 governance organizations to predict, control and track supported an industry paying US$ 46 billion in impacts on host communities. wages and salaries, CLIA estimates. Many locations CLIA members, representing more than 95 per cent of target cruises for tourism growth. Host communities global cruise capacity, have committed to reduce the rate encourage and invest in quays, terminals, facilities, of carbon emissions by the industry fleet by 40 per cent training and destination promotion. Unregulated, by 2030 compared with 2008. poorly planned and weakly monitored cruise tourism can lead to less biodiversity, damaged cultural heritage, and overcrowding pressure ashore. Growth in sustainable cruise tourism requires environmentally friendly practices, support for protection of cultural and natural heritage, and tangible economic and social benefits to local people (WTO/APTEC, 2016). 25 CLIA, ‘2019 Cruise trends and industry outlook’, 2019, view at cruising.org. 26 CLIA, news release, December 2018, view at cruising.org. SHIPPING ENERGY MIX 14 16 | Global Goals, Ocean Opportunities 12 10 Exajoules per year 8 Delivering on the Global Goals 6 Ocean tourism impacts Goal 12 on sustainable their controls can be stricter than international consumption 4 and production; Goal 14 on life conventions or local laws. Advanced wastewater below water; Goal 8 on inclusive and sustainable treatment and purification technologies on some economic 2 growth; and, Goal 11 on sustainable vessels are set to be installed in many new-build cities and communities. This growing industry cruise ships over the next decade (Carr, 2017). 0 (see graph below) can influence suppliers to align Some lines are now working with policymakers to 2040 2049 2046 2030 2048 2050 2043 2045 2020 2039 2042 2036 2047 2038 2033 2029 2035 2026 2028 2041 2044 2023 2032 2025 2037 2019 2016 2022 2018 2027 2031 2034 2021 2024 2017 with Global Goals, particularly when procurement maximize benefits and minimize negative impacts controls protect employee and customer health of bringing many visitors to confined areas ashore. on ships. Some lines aim for zero or reduced use International cruise companies share sustainability Electricity Liquefied Natural Gas Carbon-neutral fuels Heavy Fuel Oil/ of plastics on vessels, while trying to reduce food know-how with each other and externally, and Oil Marine Gas loss. Cruise lines are among marine industry collect data for researchers. leaders in waste management (Carr, 2017): GROWTH IN PASSENGER CAPACITY OF CLIA MEMBER LINES CLIA Global ocean cruise passengers 30 (Millions) 20 10 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 p 2019 p Year (p = projection) CLIA expects 30 million passengers will cruise with its member lines in 2019 compared with 17.8 million a decade ago. CLIA says these lines represent more than 95 per cent of global cruise capacity. (Source: CLIA, 2019, Cruise trends and industry outlook) AQUACULTURE IS OUTPACING CAPTURE FISHERIES PRODUCTION 180 160 140 120 Million tonnes 100 80 60 40 Productive Ocean Industries | 17 Pixabay OCEAN TOURISM IS THINKING GLOBALLY AND ACTING LOCALLY RESPONSIBLE CONSUMPTION AND PRODUCTION Some lines have banned or are phasing out single-use plastics from vessels.27 At least one has also banned them from land-based hotels, restaurants and other establishments operated by a subsidiary, and challenges all its suppliers to reduce the use of plastic.28 Most major cruise lines source food fresh before their voyages begin, and also take on fresh produce at ports along the way. Cruise lines contribute to general awareness of sustainability challenges by explaining their efforts and policies to JamesBrey / istock passengers and widely communicating sustainable operations for marketing advantage. SAFEGUARDING LIFE BELOW WATER The Association of Arctic Expedition Cruise Operators (AECO) aims to enable members to operate sustainably in one of the most sensitive environments. AECO says its mandatory guidelines are often stricter than the legal requirements. It supports an international ban on Heavy Fuel Oil (HFO) for all ship traffic in the Arctic, and has signed The Arctic Commitment, a private-public initiative calling for such a ban.29 Global governance could be moving in the same direction. The IMO recently started developing measures to reduce LeonU / istock the risks of use and carriage of HFO as fuel by ships in Arctic waters.30 CONSULTING WITH AND INVESTING IN LOCAL COMMUNITIES The cruise ship industry is consulting with local governments in some of the most popular and sensitive locations to schedule visits and other features of trips to limit overcrowding and other potentially negative social and environmental impacts.31 For example, in the Galapagos Islands, cruise operators are among stakeholders contributing collective private funding for nature conservation.32 Elsewhere, cruise lines are co-investing with local development agencies and funds, aiming to enhance the steve-goacher / istock benefits of cruise tourism to small local communities.33 27 Hallinan, B., ‘All of the Travel Companies and Places Phasing Out Single-Use Plastics’, Condé Nast Traveler, 2 January 2019, viewed at cntraveler.com. 28 Hurtigruten, ‘Hurtigruten wages war on plastic: Bands single-use plastic by this summer’, accessed at global.hurtigruten.com. 29 HFO-Free Arctic campaign led by the Clean Arctic Alliance, viewed at hfofreearctic.org. 30 IMO, ‘Consistent implementation of 2020 sulphur limit – draft guidelines finalized’, 22 February 2019, viewed at imo.org. 31 Coulter, A., ‘Cruise Industry Focuses on Issues of Overtourism to Keep Popular Ports on Itineraries’, cruisecritic, 7 March 2019, viewed at cruisecritic.co.uk. 32 Galapagos Conservancy, viewed at www.galapagos.org. 33 Live&Learn, ‘Carnival Cruises and P&O Cruises partnership to improve WASH in Schools’. 3 October 2018, viewed at https://livelearn.org. 18 | Global Goals, Ocean Opportunities SHAPING THE FUTURE Ocean cruise tourism recognizes that it must raise Propelling ships by LNG is among ways to reduce its environmental and emissions performance at sea, costs and promote clean energy, according to and its impacts ashore. Pointers to the future include UNCTAD. Others disagree that LNG could or should cruise ship operators starting or planning to increase be used to reduce GHGs from shipping, even as use of local food suppliers and workers; minimize use a temporary solution in the energy transition. of single-use plastics34,35,36; and, to boost recycling Currently, two cruise ships can use LNG in port, and waste management. The waste includes ballast though using electricity generated ashore if it water; bilge water; greywater from showers, sinks, has a lower carbon footprint is set to become an kitchens and laundries; sewage; and, solid waste increasingly available option. The first cruise ship including food and garbage. Research for the CLIA that can be fully powered by LNG entered service (Carr, 2017) concluded that its member cruise lines in 201938, and 25 being built will use it for primary are industry leaders for various aspects of waste: propulsion. Operators are also looking at hydrogen zero discharge of untreated sewage; adoption of fuel cells as a propulsion option. Other strategies advanced water treatment; and, generally meeting or can or could involve reducing hull friction; using exceeding wastewater discharge requirements. The sea water instead of air conditioning for cooling; study estimated that at least 47 per cent of newly onboard wind generators and photovoltaic ‘sails’39; built cruise ship capacity for CLIA members between and, boosting energy efficiency by steaming as 2017 and 2027 will be using advanced wastewater slowly as possible. treatments. It is essential that cruise routes are planned in Climate change is increasing the frequency partnership with policymakers and planners so that and severity of extreme weather events at sea. baseline studies, impact assessment, monitoring Consequently, cruise ship operators have a and risk management can be established. As noted vested interest in climate action. From limited earlier, some operators are now working with local data, researchers37 estimate that cruise ships government to manage impacts on local facilities account for 0.2 per cent of all CO2 emissions from and cultural and natural heritage. The cruise industry fossil-fuel combustion and cement production. partners with global organizations on related Other research (Carr, 2017) suggests that CLIA issues.40 As a global industry with large transnational lines lead the marine industry in some aspects operators, it can be an important part of future of emissions: compliance with emission controls; collaborative efforts involving global governance ship connections for using power from the shore; and other stakeholders to support the Global Goals. exhaust gas cleaning systems; and, adoption of Some suggestions for what these efforts could cleaner fuels and advanced engine technology. include are floated opposite for wider consideration and development. 34 UN Clean Seas project, ‘Paradise lost? Travel and tourism industry takes aim at plastic pollution but more action needed’ view at www.cleanseas.org. 35 AECO clean seas project, view at www.aeco.no. 36 CLIA, ‘Sustaining the places we sail’, CLIA presentation, 2019, view at cruising.org. 37 Griffith Institute for Tourism Insights, Griffith University, Australia, ‘Cruise Ship Emissions (2016)’, Global Sustainable Tourism Dashboard, view at tourismdashboard.org. 38 Carnival Corporation, ‘AIDAnova successfully starts its premiere season on the Canary Islands & Madeira’, news release. January 2019, view at carnivalcorp.com. 39 Ecoship, view at ecoship-pb.com. 40 These partnerships include, among others, The Nature Conservancy, Unesco, Unicef, US Wildlife Tracking Alliance, and WWF. Productive Ocean Industries | 19 PUTTING BUSINESS ON THE CASE SUSTAINABLE CRUISES FOR STRONGER COMMUNITIES Joci03 / istock Responsibly managed ocean emissions, pollution, waste, development of cruise tourism cruises can bring economic and packaging and underwater should be included in the other benefits to more places. noise. They are implementing UN WTO Global Code of Ethics They should be encouraged as best practice and using new for Tourism. they become affordable to a and improved technologies We call for a study to see if growing number of people and to assist them. They are also and how greater and better in more countries. Conversely, starting to collaborate more sustainable development good planning and consultation with governance organizations to certification could spur industry is required to prevent poorly predict, mitigate or eliminate, and efforts by making its social and managed cruise ship operations monitor impacts on local natural environmental performance damaging local communities and and historic heritage and facilities. transparent to customers and natural and cultural heritage. investors. Consideration could Call to action also be given to creating a Enablers Governance organizations and the formal crediting mechanism Growing disposable income in industry should build on lessons through which holiday companies markets such as China is driving from multi-stakeholder planning would provide funding to greater demand for ocean cruises. and development collaborations communities they visit. Ideas for Competition from locations for such as the Maritime Silk Road in the use of such funds include cruise ship visits is pulling the Southeast Asia/China (UNWTO, infrastructure for recycling, market through. New routes 2019) to develop a roadmap and organic food production to supply can spread economic benefits. formal statement of principles visiting cruise ships, education, Aware of their responsibility to for sustainable cruise tourism. sustainable fishing practices, operate in environmentally and Perhaps the UN World Tourism environmental protection and socially responsible ways, the Organization (UNWTO) could remediation, and small-scale more enlightened cruise lines examine with the industry if and renewable energy projects. are sharpening their focus on how Articles for sustainable 20 | Global Goals, Ocean Opportunities franckreporter / istock AN OCEAN HARVEST FOR THE WORLD OCEAN FOOD TODAY Fish provides healthy fats, protein and micronutrients whose absence from In the global effort to lift two billion people out of diets can cause ‘hidden hunger’, leading poverty and improve nutrition, and with population to chronic illness and malnutrition. to increase by another two billion by 2050, food systems worldwide will need to adapt. Beyond National dietary guidelines worldwide recommend two fish meals a week, though actual consumption is much simply producing more food, we will need a more lower in most countries (FReSH43). sustainable and efficient food system to ensure food security. Nutritious, sustainable ocean food The Food and Agriculture Organization (FAO) estimates has a central role to play in that future food that close to 90 per cent of wild fish stocks are fished system. While reducing general food waste and at or above sustainable levels.44 A growing demand improving land-based protein production are for climate-friendly food from the ocean can be met by important measures, an important realization is responsible aquaculture to take the pressure off wild stocks and help them recover. that our planet is 71 per cent ocean. Sustainable and nutritious food from the ocean can cover the Marine aquaculture contributes 50 per cent of the needs of a growing world population and enhance seafood we consume today and is one of the fastest livelihoods for future generations. This chapter growing sectors of the global food system. focuses on the most significant form of ocean food today, namely fish. However, future ocean food may also involve increasing cultivation of different food sources, including sea vegetables and shellfish. 41 FReSH (Food Reform for Sustain ability and Health) is a World Business Council for Sustainable Development project, see wbcsd.org. 42 FAO, ‘The State of the World Fisheries and Aquaculture (SOFIA)’, 2018, see www.fao.org/state-of-fisheries-aquaculture. Year (p = projection) Productive Ocean Industries | 21 AQUACULTURE IS OUTPACING CAPTURE FISHERIES PRODUCTION 180 160 140 120 Million tonnes 100 80 60 40 20 0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Capture production Aquaculture production (Source: FAO, 2018, The State of the World Fisheries and Aquaculture) OFFSHORE WIND POWER GENERATION Delivering 700 on the Global Goals Food from the ocean and inland waters can supply to sustainable growth. Companies with corporate the world with nutritious food with a relatively low responsibility know that a healthy ocean is the 600 footprint compared with other animal-source carbon foundation of a productive ocean and that shared food production sectors (Goal 2, Goal 13). Using value creation is critical for sustainable development. more 500 sustainable production practices in the ocean To strengthen environmental and social can improve nutritious yields, and reduce the performance, the industry can pursue certifications Terawatt hours pressure on forests, freshwater, land use and soil and engage in value-chain partnerships to raise the 400 (Goal 15). Artisanal fishing and small-scale quality standard of the sector as a whole. There are various aquaculture remain fundamental for the livelihoods sectoral organizations and certification schemes. of many coastal communities and the millions of 300 people working directly or indirectly in the sector (Goal 8). While ocean food contributes to meeting the 200world’s food needs, there are some key barriers 100 0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 22 | Global Goals, Ocean Opportunities Nina Rangøy OCEAN FOOD IS THINKING GLOBALLY AND ACTING LOCALLY INTEGRATED FARMING OF THE OCEAN The use of sea plant species, such as kelp, in fish and shellfish aquaculture may contribute to mitigating climate change impacts, specifically ocean acidification and carbon sequestration. Species such as macroalgae may also contribute to more balanced ecosystems and better use of byproducts and organic waste from fish farming. Integrated farming delivers several services to coastal populations, including food supply and job creation. For policymakers, there is great potential to stimulate markets for nutritious and sustainable food by achieving better integration of aquaculture into national food security and nutrition strategies.43 wrangel / istock NOVEL INGREDIENTS IN FISH FEED As demand for farmed fish continues to grow, companies have started developing novel sources of nutrients and protein for fish feed. New sources of omega-3 and omega-6 fatty acids from algae are currently being developed and scaled up. For protein, possible alternative sources include insect meal, yeast fed with wood by-products, and bacteria. Further innovation will be needed to ensure sustainable growth of the fish farming industry and to prevent overfishing of forage fish species. Cermaq DIGITAL TOOLS TO REDUCE IUU FISHING AND MODERN SLAVERY New digital solutions are promising tools in the fight against Illegal, unreported and unregulated (IUU) fishing and modern slavery on fisheries vessels. A Seafood Business for Ocean Stewardship (SeaBOS)44 pilot using on-deck species-detecting cameras and facial-image recognition software aims to identify illegal catch and undocumented fishermen on board vessels. To help quantify and reduce IUU fishing, the independent non-profit organization Global Fishing Watch is providing free data from near-real-time tracking of global commercial fishing activity.45 teekid/ istock 43 This is a major theme in the UN Decade of Action on Nutrition (2016–2025) led by the FAO and the World Health Organization (WHO). 44 Weblink: SeaBOS, https://solutionsforseafood.org. 45 Global Fishing Watch, ‘New Data And Analysis Cell To Help Combat Illegal Fishing’, news release, 14 February 2019, globalfishingwatch.org. Productive Ocean Industries | 23 SHAPING THE FUTURE Several ambitious industry initiatives committed resistance to disease. Scaling up farming of less- to Global Goals have identified key barriers and cultivated marine fish species can learn from more enablers for sustainable growth.46 Such growth also technologically advanced aquaculture. requires political will and alignment of priorities. Novel and improved technologies will help to tackle For example, there is potential to further stimulate IUU fishing. Catch shares and community based markets for nutritious and sustainable food by management systems also help to conserve fish achieving better integration of fish into national stocks, and can be refined and used more widely. Sale food security and nutrition strategies. Currently, and distribution of fish can be better organized to such policies tend to be dominated by agriculture.47 prevent IUU fish entering markets. Indeed, all ocean Given responsible, supportive policies, there are big food sectors can increase responsible procurement. opportunities for ocean food companies to apply Their purchasing power can boost markets for novel technology and sustainable practices to sustainably sourced products and services. More industry challenges. transparency and oversight of supply chains from Sustainable fish-feed ingredients are critical to harvest to consumer is key for food security and decouple aquaculture growth from dependency on sustainable growth. Technology like blockchain may small pelagic fisheries and land-sourced ingredients enable full traceability and more sustainable supply- (e.g. soy and wheat) that could be used directly chain management.48 “ for human consumption. Novel ingredients being Many major markets for seafood fly it in, contributing developed and to GHG emissions. In some markets, demand for tested include, We must plant the among others, fresh products adds to demand for rapid transport, challenges to cold chains and food security, and sea and herd its algal oil and insect increases food waste. More local production, and meal. Developing animals using the vaccines against improved cold chains and frozen products, could reduce impacts of transport and reduce food waste. sea as farmers common diseases Ghost gear from fishing traps wildlife and adds to in aquaculture will instead of hunters. reduce environmental plastic pollution, but collecting and recycling it is achievable through better monitoring and market- That is what impacts from using civilization is all about — farming replacing hunting. “ medicines including antibiotics and will benefit animal welfare. Commercial vaccines and driven solutions. On the whole, the seafood industry falls short on gender equality and equal opportunity. Women accounted for an estimated 14 per cent of direct employment in the fisheries and aquaculture primary –Jacques-Yves Cousteau, preventive production sectors in 201649, though statistics are limited. Oceanographer systems are being Eliminating forced labour on fisheries vessels is developed and tested, hindered by corruption and poor transparency. but more R&D is In many places, regulations and anti-corruption needed. Such measures can significantly reduce the measures are insufficient or unenforced. There are use of chemical treatments of fish against parasites also challenges related to regulation and monitoring (e.g. sea lice). Some biosecurity solutions today on the High Seas. Technology for monitoring include cleaner fish, physical lice barriers, freshwater can help, but political will is needed to improve treatment and genetic selection based on governance and enforcement. 46 These include the SeaBOS companies’ 10 commitments and the three priorities defined by the Global Salmon Initiative for salmon producers. New benchmarks such as the Seafood Stewardship Index (SSI) will be rating seafood companies on performance while encouraging transparency. 47 This is a major theme in the UN Decade of Action on Nutrition (2016–2025) led by the FAO and WHO. 48 DNV GL, ‘Blockchain can revitalize trust in seafood industry by boosting transparency’, news release, 6 March 2019, see dnvgl.com. 49 FAO, ‘The State of the World Fisheries and Aquaculture (SOFIA)’, 2018, see www.fao.org/state-of-fisheries-aquaculture. 24 | Global Goals, Ocean Opportunities PUTTING BUSINESS ON THE CASE FEED THE WORLD FROM THE OCEAN pierivb / istock The central vision for achieving indirect environmental and social responsible harvest makes it progress on the Global Goals impacts from both marine or to the store. Through digital is to provide sustainable fish terrestrial sources. Traceability solutions and the use of new and seafood to all by 2030. and increased data availability technology such as blockchain, More industry transparency and will improve governance and fully traceable seafood supply oversight of the value chain, operations, and ultimately help chains can be a reality by the end from harvest to consumer, is build trust among consumers. of the decade. central for food security and sustainable growth. Connecting Enablers A call to action the loose ends of the fragmented Solving the challenge of To enable the vision of fish and seafood supply chain, traceability may require sustainable seafood for all and increasing data collection alignment of global policy by 2030, transparency and and analysis, are also key for frameworks to emphasize: full traceability are key to the developing solutions to improving ■ Transparency and good creation of a responsible value nutrition and the health of governance; chain. Good management populations. Challenges include throughout the whole value chain ■ Transparency from companies how to: eliminate IUU fishing; will make sustainable, traceable and suppliers as a requirement improve working conditions on fish and seafood a food source to to operate; and fisheries vessels; and, how to consume with a good conscience. improve cold chains and logistics ■ The use of new technology, for better food safety, less food including digital tools, to enable waste and lower emissions traceability. from transport. In aquaculture, Educating consumers on the fish feed represents half of importance of sustainable the procurement costs and a seafood will be important, as will significant part of the industry’s ensuring that only documented, Productive Ocean Industries | 25 NicoElNino / istock OCEAN ADDS TO THE ENERGY MIX ENERGY FROM THE OCEAN People need affordable, reliable and sustainable Two current independent forecasts for energy. Today, nearly three billion people rely on offshore wind capacity see it growing animal waste, charcoal, coal or wood for cooking sevenfold54 to tenfold56 by 2030. and heating.50 Energy enables the sustainable  ost reduction through innovation and industrialization C economic development needed for achieving most of manufacturing means offshore wind will soon compete Global Goals, but it must be provided in line with without subsidies in major markets.55 the Paris Agreement. Decarbonizing energy when power consumption is expected to double by Tidal, wave, floating solar and other marine energies will mid-century requires more renewables, greater escalate, but in the longer term.57 energy efficiency, and carbon capture and storage. Gas is forecasted to provide resilience and security of Electric power from ocean wind, currents, tides and energy supply in the transition to a decarbonized world waves will play a role. Today, offshore wind supplies energy system.55 0.2 per cent of global electricity, but is forecasted  ew floating technologies for liquefied natural gas (LNG) N to have the potential to at least match the energy are enabling viable exploitation of gas resources in seas supplied by offshore oil in 2050.51 Offshore wind off less developed nations (Fulwood, 2019). needs energy storage, connections to stable, resilient power grids, and good governance including supportive spatial ocean planning, if it is to achieve its full potential. 50 UN, ‘Ensure access to affordable, reliable, sustainable and modern energy’, www.un.org/sustainabledevelopment/energy. 51 DNV GL, ‘Energy Transition Outlook 2018’, September 2018, eto.dnvgl.com. 52 Bloomberg New Energy Finance, ‘Offshore Wind Market Outlook’, December 2018. 55 Wind Europe, ‘World’s first offshore wind farm without subsidies to be built in the Netherlands’, news release, 20 March 2018, windeurope.org. 56 DNV GL, ‘Energy Transition Outlook 2018: Power Supply and Use — Forecast to 2050’, September 2018, eto.dnvgl.com. 55 Source: Ocean Energy Europe, oceanenergy-europe.eu. 40 20 26 | Global Goals, Ocean Opportunities 0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Capture production Aquaculture production OFFSHORE WIND POWER GENERATION 700 600 500 Terawatt hours 400 300 200 100 0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Offshore wind is set for sustained growth in the longer term. (Source: DNV GL)56 Delivering on the Global Goals Offshore oil and gas has been providing energy for It continuously seeks improved environmental several decades to respond to the ever increasing management and performance, and carries out world demand (Goal 8). To continue to do so, it baseline studies, ocean current mapping, impact is exploring and producing in deeper and more assessments and biodiversity censuses. The industry challenging oceanic areas, raising concerns and supports efforts to reduce or eliminate impacts of generating public resistance in some parts of the underwater noise on marine life57 and to minimize world. New offshore renewables are adopting best methane emissions from its activities.58 It researches, practice early on and complying with rules for advocates and uses carbon capture, utilization and protecting life below water (Goal 14). The oil and storage (Goal 13).59 New LNG technologies can gas industry is targeting more-efficient energy use potentially bring cleaner fuel for ships, onshore power in oil and gas production and is assessing how to generation, and decent work (Goal 8) to less developed decarbonize its supply chains (Goal 12).56 regions with offshore gas.60 56 International Finance Corporation/IPIECA/UNDP, ‘Mapping the oil and gas industry to the Sustainable Development Goals: An Atlas’, July 2017, www.ipieca.org. 57 Sound and Marine Life Joint Industry Project, www.soundandmarinelife.org. 58 The World Bank, ‘IPIECA supports flaring initiative’, 22 January 2019, www.worldbank.org. 59 Global CCS Institute, ‘The Global Status of CCS 2018’, available at www.globalccsinstitute.com. 60 The Energy Institute, London, UK, ‘Sub-Saharan Africa pushes forward with LNG’, Energy World, April 2019. Productive Ocean Industries | 27 triloks / istock OCEAN ENERGY IS THINKING GLOBALLY AND ACTING LOCALLY SPATIAL PLANNING AND CROSS-SECTORIAL COLLABORATION Spatial planning brings together multiple users of the ocean — including energy, industry, Government, conservation and recreation — to make informed and coordinated decisions about how to use marine resources sustainably. The process can result in a statutory or non-statutory plan providing a consensus framework that identifies how to minimize potential conflicts regarding use of marine resources and space. This may lead to offshore wind farms having cross-sectoral applications in supplying power for marine aquaculture and offshore oil and gas operations.61 CharlieChesvick / istock CARBON CAPTURE AND STORAGE Capturing carbon dioxide (CO2) from onshore industries for permanent storage 2,000 metres below the seabed is the subject of multi-partner studies involving energy companies Equinor, Shell and Total.62 It has been estimated that current oil and gas fields globally could store 900 billion tons of CO2.63 It would take about 1.7 million wind turbines running for a year to save that much CO2 being emitted by combusting fossil-fuels.64 Alternative nature based solutions are also being considered for capturing CO2. On land, this may involve protecting forests or marshland. In the ocean, studies are looking at the potential of using algae or seaweed as long-term carbon sinks. Art Wager / istock FLOATING SOLAR PHOTOVOLTAIC PANELS Prototypes of floating solar photovoltaic (PV) panels for marine installation are being tested in near-shore conditions (Bjørneklett, 2018) and commercial development is planned.65 Combining PV technology and the experience of marine and offshore industries could create potential to scale up solar power in the ocean, particularly where there are constraints on devoting land to solar (The World Bank, 2018). Floating-solar concepts offshore could provide opportunities for integration with other maritime industries in the storage, application and transmission of the intermittent renewable power produced. pandemin / istock 61 Foxwell, D., 'Wind farming and aquaculture: a win-win solution?', Offshore Wind Journal, 25 March 2019, viewed at www.owjonline.com 62 Reuters, ‘Norway awards Equinor license to build CO2 storage under seabed, 11 January 2018, www.reuters.com. 63 Intergovernmental Panel on Climate Change (IPCC) Special Report on Carbon dioxide Capture and Storage, ‘Chapter 5: Underground Geological Storage’, www. ipcc.ch. 64 See calculator at https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. 65 Kenning, T., ‘Sunseap to build 5 MW offshore floating solar project near Singapore’, PVTECH, 9 November 2018, www.pv-tech.org. 28 | Global Goals, Ocean Opportunities SHAPING THE FUTURE Oceanic winds, tides, currents and waves are Bringing ashore the electricity from offshore wind already powering clean electricity generation. farms faces challenges. Output is intermittent, so Offshore wind is a rapidly maturing technology: power storage may be needed for balancing supply major wind farms have operated in coastal waters to grids. Innovative and ambitious concepts are being for years. Through innovation and industrialization studied. They include ‘power-link’ hubs on existing or of manufacturing, it will increasingly be able to constructed offshore islands to store and transmit compete in the market place without subsidies. offshore wind energy as electricity or converted into Additionally, offshore wind can contribute to gas or hydrogen.69 local economic development, similar to what the Collaborative public-private projects are springing oil and gas industry has done in some places by up to explore how to leverage synergies between encouraging the development of a localized network ocean-related and other energy options and what of service companies for the new industry. it will take to maximize the speed and scale of the Nations other than in traditional hotspots such as transition. Examples include the North Sea Energy Northern Europe are showing intent to develop shared innovation programme in the Netherlands.70 offshore wind and are keen to benefit from learnings It is creating a coalition of companies and research elsewhere. India recently set a target to have 5 organizations to study and exploit synergies between gigawatts (GW) operating by 2022, and up to 30 offshore renewable and fossil energy activities. GW by 2030.66 It is cooperating with Denmark to The goals are to minimize negative trade-offs and transfer knowledge for managing development of competition for resources such as infrastructure, this capacity.67 The Republic of Korea is considering services, human capital, products and knowledge. All floating offshore wind to shift its energy mix from the ‘ocean energy’ technologies such as tidal and wave nuclear and coal to renewable energy. are currently costly but are seen as potential longer- term additions to the portfolio of commercially viable There is a move further away from coasts where clean energy options available for various locations spatial planning for competing ocean use can be and environments. Europe’s ocean energy industry more complex. Ocean winds can be stronger and has stated its ambition to deploy enough production more reliable in these areas, though issues of grid capacity by 2050 to meet 10 per cent of electricity connection become greater. Bigger wind farms demand in the region.71 with fixed turbines are being built further from shore68 where site conditions and levels of risk to navigation allow. 66 Indian Ministry of New and Renewable Energy, ‘To give confidence to wind industry, Government declares national targets for off-shore wind power’, news release, 19 June 2018, www.pib.nic.in. 67 ’Prime Minister of India, ‘Cabinet approves Cooperation Agreement between India and Denmark in the field of Renewable Energy with focus on Offshore Wind Energy, news release, 15 April 2019, www.pmindia.gov.in. 68 e.g. the 1.2 GW Sofia Offshore Wind Farm 165 km offshore UK will provide some 5.4 TWh/yr of power to meet the needs of more than one million households. 69 See North Sea Wind Power Hub, northseawindpowerhub.eu. 70 See ‘North Sea Energy: Offshore system integration’ at north-sea-energy.eu. 71 Ocean Energy Europe, ‘The size of the prize: 10% of Europe’s electricity’, www.oceanenergy-europe.eu. Productive Ocean Industries | 29 PUTTING BUSINESS ON THE CASE OFFSHORE WIND TO OUTCOMPETE FOSSIL FUELS BY 2030? to minimize environmental impacts and to prevent or resolve conflicts over how offshore areas are used for the competing claims of offshore wind and other industries and stakeholders. These include leisure activities and smaller businesses that rely on access to the ocean or its resources. Call to action Major changes to the ways we produce energy from the weta0077 / istock ocean will be possible only if the Achieving an ambition to and floating substructures, generation technologies — wind, make offshore wind power a mooring systems and dynamic waves or currents — are seen more commercially attractive power cables; and, meshed as acceptable because they technology and investment than high-voltage direct current contribute directly to achieving any fossil-based alternative for offshore transmission networks. the Global Goals. Beyond power generation by 2030 would Capital and operational costs technology, the solutions also impact positively on Goal 7 and are reducing quickly and will involve finance and, most Goal 13. This is particularly continue to do so, the more and importantly, support from ocean relevant in regions where there the quicker capacity is installed. stakeholders, and in particular are reasonable offshore wind Technologies for energy storage local communities and industries. resources and sufficient energy offshore are immature but are While offshore wind is becoming storage or resources to balance starting to attract Government mature in some areas, it is early the power grid and ensure grid and private sector interest and enough in its development to stability. By 2030, this could investment along the chain from benefit most from technology, mean that construction of fossil- concept to pilot projects. This commercial and governance based power production units is trend can be accelerated and lessons learned in the evolution no longer commercially attractive expanded through aggressive of older ocean- and land-based in these regions. They would have public-private investment in energy production and consuming become uncompetitive because developing new technology industries. of fully-transparent energy through targeted incentives with production costs including the a clear focus to drive down costs Building a robust and supportable price of CO2 emissions and the as fast as possible. Applications narrative around the unfolding decommissioning of upstream oil and subsidies for offshore use energy transition, the role of gas and gas production facilities. of offshore wind power — in over coming decades, and the aquaculture, oil and gas, and on shared future use of ocean space Enablers islands for example — can help is key to achieving acceptance of Technology enablers maturing to pull through the market for future uses of oceanic resources. or developing include advanced offshore wind. Enhanced spatial offshore wind turbines; fixed planning frameworks are needed hakule / istock Productive Ocean Industries | 31 undefined undefined / istock NEW FRONTIERS: A QUEST FOR MINERALS AND NOVEL DRUGS It is generally estimated that mankind has explored Rising demand for minerals only five per cent of the ocean. Despite this, we Demand for responsibly sourced minerals will know enough to predict that seabed minerals can continue to grow due to population growth, meet our need for metals for centuries. We can urbanization and the energy transition to a low- also see that half the species found in the deep sea carbon future (Elshkaki, 2018). This is happening as by oceanographers are new to man and hold great the ore quality of many land-based deposits declines, possibilities for medical research and innovation. requiring more water and energy for extraction, However, sourcing either minerals or drugs this way thus imposing higher environmental and social is not uncontroversial, easy to do or necessarily impacts (Church, 2018; Norgate, 2009). To meet profitable today. demand, attention is turning to more efficient mining, including recycling and the mining of waste, as well as opportunities related to deep-seabed mineral deposits. Some research suggests that without enough raw materials to urbanize and manufacture clean technologies, the world cannot take urgently needed action to address the Global Goals (Ali, 2017). 32 | Global Goals, Ocean Opportunities New medicines required In this complex picture, strong governance is required The world’s population is also ageing, creating and the International Seabed Authority (ISA)72 is the need for more and better treatments for developing regulations for commercial deep-seabed related medical conditions on top of rising general mining that will require a completed environmental threats such as increasing microbial resistance to impact assessment and environmental management antibiotics. Medical science has made huge progress and monitoring plan as part of the exploitation in prolonging life and treating disorders, but more contract application. These regulations aim to can be done. It requires greater understanding of incorporate specific provisions to ensure the how life processes function or malfunction, and effective protection of the marine environment and the way that substances like drugs work. Medical conservation of marine biodiversity. science often relies on models of life processes in simple organisms to study this. Living organisms can also provide us with substances including drugs and nutrients to help cure or alleviate disorders. Most natural drugs currently derive from terrestrial organisms, particularly plants, but less explored regions such as the deep seabed could also reveal many biologically active substances. Additionally, as we learn more about the complexity of deep-sea life, its local uniqueness and significance for multiple ecosystems, we also gain new insight into the value of biodiversity. Delivering on the Global Goals Susanova / GSR Deep-seabed deposits containing high concentrations of cobalt, copper, manganese, nickel and other As for the other focus of this chapter, the ocean minerals, are receiving increasing attention in the hosts hundreds of thousands of organism types, and quest for minerals needed for a low-carbon future possibly billions of micro-organisms. The resulting (Goal 7, Goal 13). Commercial activity is in its infancy vast range of genetic material and biologically and the regulatory framework for activities is still active compounds is referred to as marine genetic under development both for the deep seabed and on resources (MGR). continental shelves. Aided by new technologies, the search for these has Lack of complete knowledge of the deep-sea intensified. The aim is to speed up the accumulation environment necessitates a careful approach. Many of knowledge for developing new valuable drugs, have concerns related to commercial deep-sea natural compounds and/or nutritional supplements, mining until the potential effects have been studied as described later in the chapter. Collectively, as and researched sufficiently and all possible risks are ocean opportunities, these efforts may support many understood. Several studies and projects aim to shed Global Goals; particularly Goal 3 on good health and light on benefits, drawbacks and knowledge gaps well-being. New businesses exploring sustainable associated with such mining. applications based on marine biotechnology can also contribute to Goal 8, providing decent and equal opportunity work and economic growth. 72 ISA comprises 167 States and the EU. It is an inter-governmental body established by UNCLOS to organize, regulate, and control all mineral-related activities in marine areas beyond natural jurisdiction (ABNJs). Productive Ocean Industries | 33 FOUNDATIONS FOR SUSTAINABILITY Key current and pending activities in governance related to deep-sea mining and using living marine organisms According to the 1982 UN Convention on the Law include: of the Sea (UNCLOS), marine resources are either In 2020, ISA is expected to adopt in or beyond zones of national jurisdiction. Deep-sea seabed mining regulations for the mineral deposits and MGR can be found in both. In a international seabed area. These national jurisdiction they belong to the state which, regulations include requirements for subject to certain restrictions, is responsible for environmental impact assessment their management. prior to the grant of any exploitation contract. ISA is implementing an ambitious plan to establish Regional Environmental Management Plans (REMPs)75 The UN is also progressing an expected treaty under in all areas in which deep-seabed mineral exploration UNCLOS on Marine Biodiversity Beyond National Jurisdiction (BBNJ).76 The BBNJ treaty will focus on is taking place. As well as setting frameworks for the conservational and sustainable use of living marine environmental management, these REMPs include the resources, including MGR. establishment of Areas of Particular Environmental Interest (APEIs) that are to remain protected from Financial benefit sharing for deep-sea mineral environmental effects of mining. resources is assured under UNCLOS and is implemented by ISA. Benefit-sharing is also under Mining contractors will be required to establish consideration for MGR as part of the BBNJ treaty. Preservation Reference Zones (PRZs) that are ecologically representative of mine areas. PRZ and APEIs will help to maintain biodiversity and ecosystem health and function. which must be carefully assessed during the environmental impact assessment process required It should be noted that there are several opposing by ISA prior to an exploitation contract being granted. views concerning the effectiveness of the proposed governance measures for deep-seabed mining. Some argue that protection under REMPs may be uncertain if set-aside areas are not tailored to the ecosystem structure and functions for the specific area in question.75 In the case of the first REMP, for the Clarion- Clipperton Fracture Zone (CCZ), ISA allocated APEIs in 2012.76 As more information becomes available through exploration, additional mechanisms may be recommended during the CCZ REMP review process currently underway in collaboration with the marine scientific research community.77 Similarly, the PRZs need to be ecologically representative, something 73 The ISA-established REMP for the CCZ in the North Pacific establishes nine APEIs across more than 1.4 million square kilometres to remain protected from environmental effects of mining. Additional REMPs for other seabed deposits are being developed, and will be supplemented by PRZs established by all contractors. 74 See www.un.org/bbnj. 75 The Pew Charitable Trusts, ‘How to Protect the Deep Sea’, December 2018, www.pewtrusts.org. 76 ISA, ‘ISBA/18/C/22 Decision of the Council relating to an environmental management plan for the Clarion-Clipperton Zone’, 26 July 2012, www.isa.org.jm. 77 For example, see Deep CCZ Biodiversity Synthesis Workshop announcement, 25 April 2019, www.isa.org.jm. 34 | Global Goals, Ocean Opportunities FOUNDATIONS FOR GROWTH The deep seabed beyond national jurisdiction covers Partnerships are vital to meeting slightly over half the planet’s surface. Yet it is one of conservation goals the remotest places on Earth, at least 200 nautical Industry-academic partnerships are also critical miles from land and many kilometres below the to inform science-based marine spatial planning “ ocean surface. to ensure the industry progresses while meeting regional and global What we know reveals much that is worthy of conservation goals further investigation, from an abundance of mineral and objectives. When resources to deep-sea ecosystems and MGR. However, the huge investment needed to access the commercial production Deep sea mineral deep seabed means it remains largely unexplored, starts, marine scientific exploration is researchers can play except for those areas where there is a commercial interest to do so. an important role one of the most in validating impact tightly regulated Traditionally, major scientific breakthroughs and game- assessments and changing technological innovation have gone together conducting ongoing activities in the with commercial development (Coombs, 2002). monitoring and baseline ocean […] I can studies for further Commercial interest in deep-seabed mineral deposits exploration work. think of no other has been rising in recent years. Deep-seabed mineral exploration can provide synergistic access to the At the same time, activity in the deep sea for science, and the industry has been the industry will ocean where proactive in involving the marine scientific research be working to community in its environmental baseline studies and provide metals for a we have had the technology development. low-carbon future. chance to put For example, the This helps to ensure transparency and that polymetallic nodule the rules into management decisions are based on the best possible science and facts. Additionally, these field in the CCZ place before contains more cobalt, industry-academic partnerships increase the global the activity has knowledge of deep-sea environments much quicker than if the industry was not developing. Because of these collaborations, for example, 32 scientific publications from work within ISA contract areas were achieved in a single year between July 2017 manganese and nickel than all land-based reserves combined (Hein, 2013). Many battery types will occurred, and we should take every advantage of this “ power the future, but and July 2018 (Glover, 2018). This publication forecasters predict opportunity.80 rate will increase as the industry moves closer that the NMC (Nickel- – Michael Lodge, to commercial production and as more is learned Manganese-Cobalt) Secretary-General, ISA through baseline studies, mining system component lithium-ion battery will testing, and other activities. grow significantly. It is estimated that 10.6 per cent of the surface of the CCZ — equivalent to just 0.17 per cent of the ocean surface worldwide — contains enough metal to replace the global internal combustion engine car fleet with electrical vehicles. As such, 78 Lodge, M.W., ‘Regulating Deep Sea Mining’, Guest blog, World Ocean Initiative — The Economist Group, 2 April 2019, www.woi. economist.com. Productive Ocean Industries | 35 it could replace 22 years’ worth of mining for nickel, Most marine-derived drugs to date have anti- 33 years of copper and 13 years of cobalt mining cancer applications, for example. In addition, the globally at the predicted 2050 consumption rates development of new antibiotics based on marine for energy technology.79 organisms is a particularly attractive and pressing area of work. One stark example of the need for We also need to recognize that metal recycling can novel anti-microbials is the rapid spread of antibiotic still be substantially enhanced, and that seabed resistance in the potentially life-threatening integrity is a prerequisite for marine life. Thus, bacterium known as MRSA (Tortorella, 2018; thinking big to recognize, quantify and realize Ercolano, 2019). Antibiotic-resistant strains of the sustainably the massive potential benefits of mineral mycobacterium that causes tuberculosis are also a and living ocean resources for the planet, its people rising cause for concern, hugely expensive to treat, and climate-change mitigation requires symbiosis and potentially life-threatening.80 between industry and academia. It is not just about drugs. The genes of marine Such collaboration can lay the foundation for our organisms also direct the synthesis in nature of low-carbon future while building on the significant enzymes that can also catalyse industrial processes amount of data and information collected over the last (Parages, 2016). Such applications include 40 years through deep-seabed mineral exploration making fine chemicals. Another use being actively activities. It requires conservationists and industry to researched, developed and applied is for cleaning recognize the ocean’s tremendous value and to work up marine and other environments; for example, together to contribute to the Global Goals so vital to through bacterial degradation of oil in marine water the health of Earth and its population. (Bargiela at al., 2015). Unlocking the human health Few marine-derived enzymes have been potential of marine life commercialized, but an ambitious project called Enhanced and accelerated bioprospecting for MGR Industrial Applications of Marine Enzymes (INMARE) research is among the synergies that deep-seabed has been working to change that.81 Its goals include mineral exploration can offer to science. Researchers streamlining and speeding up the process of getting have sought potentially therapeutic metabolites from marine enzymes and bioactive compounds through marine microorganisms and species such as sponges development and into commercial use as catalysts. for decades. Few drugs derived from these sources INMARE has also identified novel lead products are yet authorized for use in humans. However, the and worked on prototypes and delivery of new list of approved marine-derived drugs is increasing biocatalytic processes. The project has involved just as the world needs more and better therapies. dozens of stakeholders from industry and academia, and MGR from unique environments in the Atlantic. Patent applications for marine-derived genes have An international cluster82 of companies, and also been increasing faster than the rate at which new universities from Brazil, Canada and the US are to species are being discovered (Arrieta et al., 2010). play key roles in communicating the results. More Behind this fact is the hope and expectation that the than 70 scientific papers and book chapters have ocean will in time live up to its potential to provide resulted from INMARE, and its final report is awaited. knowledge for a valuable and growing source of new treatments. 79 The World Bank, ‘Climate-Smart Mining: Minerals for Climate Action: Infographic’, 26 February 2019, www.worldbank.org. 80 Centers for Disease Control and Prevention, ‘Drug-Resistant TB’, viewed at cdc.gov/tb/topic/drtb. 81 See inmare-h2020.eu. 82 CLIB2021 (Cluster Industrial Biotechnology): An open-innovation cluster of large, medium and small companies, academia and others active in biotechnology and the bioeconomy, https://bioconsortium.eu. jaminwell / istock Well-Governed Ocean | 37 WELL-GOVERNED OCEAN eats Ocean Governance HANGE RULES & STANDARDS PLASTIC TRANSPARENCY TION LOCAL & GLOBAL NG Governance ENFORCEMENT includes the rules that determine the rights and responsibilities of those using the ocean for economic activities. ERNANCE It also encompasses the institutions that PARTNERSHIPS create such rules, enforce them, and provide dispute resolution processes and forums. Governance is both Consistent implementation and a public and private sector activity. Public governance enforcement of international ocean is regulation through national and international law regulations, complemented by private and institutions while the private sector establishes governance mechanisms, are key to industry standards and principles, due diligence how the ocean industries can deliver on processes, and procurement rules. the Global Goals. Of all the topics discussed in workshops, meetings and interviews for this report, the need for strong and transparent governance was clearly identified as the most important enabler for industries to deliver on the Global Goals. 38 | Global Goals, Ocean Opportunities HOW PUBLIC AND PRIVATE GOVERNANCE INTERACT Public governance The relationship between governance Public global ocean governance rests on the UN and the Global Goals Convention on the Law of the Sea (UNCLOS). Many Sustainable development of the ocean requires regard it as the backbone of different legal and regulation through strong and transparent institutions non-legal institutions.83 Ocean governance includes as well as robust public/private cooperation. The international and national governance, in which Global Goals aim to encourage entities to improve Governments and public bodies are the primary practices and act more responsibly. Goal 16 on peace, actors. One example is the ongoing (2019–2020) justice and strong institutions is of note here. Among intergovernmental negotiations under UNCLOS the 17 Global Goals, it is often referred to as ‘the over the conservation and sustainable use of enabling goal’, as it enables the others. For example, marine biological diversity in areas beyond national without good governance and solid institutions any jurisdiction. regulatory frameworks or laws protecting the ocean cannot be adequately enforced. Private governance In this chapter, we explore the role of insurance, Ocean governance also encompasses private finance, and classification/certification providers governance initiatives led by companies and NGOs. within existing governance regimes as well as the Private governance mechanisms complement and further actions such enabling industries take to enable public governance by providing standards, promote a healthy and productive ocean. A detailed best practices and certification schemes. These and comprehensive overview of ocean governance include, among others, ship and offshore classification, and regulations is provided in Mapping Ocean and different certification schemes for materials, Governance and Regulations, the first report of the equipment, processes and operations. These can be UN Global Compact Action Platform for Sustainable mandatory or voluntary. They may cover different Ocean Business.84 phases from design to end-of-life, different parts of value chains, and can focus on technical, social Ocean governance is extensive and complex. Coastal and environmental requirements. Investment states have jurisdiction within ’Exclusive Economic and financing criteria, are other de facto forms of Zones’ usually extending 200 nautical miles (nm) governance. from their coasts. Laws, regulations and their effectiveness vary by country. Generally, there is Public and private governance may intersect. For weaker governance and poorer management for example, several of the International Maritime marine Areas Beyond National Jurisdiction (ABNJ), Organization conventions contain a component of ‘the High Seas’. Development, implementation and mandatory insurance that is provided by the private enforcement of High Seas regulations reside in sector. The International Convention on Civil Liability many global, regional and national bodies. In the UN, for Oil Pollution Damage (CLC) provides for strict more than 20 are vested with some normative and liability of shipowners for spills of persistent oil carried regulatory competence related to the High Seas. as cargo and the requirement for compulsory liability Only deep-sea mining in ABNJs is regulated by one insurance to pay for clean-up and compensation to body, ISA. the limit of liability under the convention. Similarly, the International Convention on Civil Liability for Bunker Oil Pollution requires mandatory insurance for damage caused by spills of bunker fuel. 83 See legal.un.org/avl/ha/uncls/uncls.html. 84 See www.unglobalcompact.org/docs/publications/Mapping-Ocean-Governance-and-Regulation.pdf. Well-Governed Ocean | 39 To a maximum of 350 nm 12nm 24nm from the coast/baseline Contiguous or 100 nm beyond the Territorial Sea Zone 2500 metre isobath, Baseline Limited 200nm whichever is greatest enforcement zone Territorial Sea Exclusive Economic Zone (EEZ) The High Seas Sovereign rights extend to the water Extended column, the Continental airspace Shelf above, and to the seabed and subsoil Continental Shelf The Area Sovereign rights Sovereign Sovereign rights over natural resources of the over natural resources No national rights Territory water column and the seabed and subsoil of the seabed and subsoil Scale of Rights Maritime Zones and the International Law of the Sea87 No single nation state manages an ABNJ. No sole and a principles-based approach to business. It international body is vested with a strong mandate means operating in ways that at least meet and effective means to ensure holistic, sustainable fundamental responsibilities for human rights, approaches to managing the High Seas. Their global labour, environment and anti-corruption. Responsible regulation is an extensive framework of rules based businesses consistently apply the same values and on economic, environmental, industrial and social principles wherever they are, knowing that good considerations. UNCLOS sets the legal framework for practice in one area does not offset doing harm all activities. Other instruments are sector-specific elsewhere. By incorporating the Ten Principles with detailed technical specifications. of the UN Global Compact into strategy, policy and procedure, and having a culture of integrity, The UN Global Compact, the UN’s private-sector companies are upholding their basic responsibilities collaboration, implements universal sustainability to people and planet while setting the stage for principles and acts to support UN goals. Corporate long-term success. sustainability starts with a company’s value system 85 Maritime Zones from the UN Convention on the Law of the Sea (1982) 40 | Global Goals, Ocean Opportunities RESPONSIBLE INSURANCE, CLASSIFICATION AND CERTIFICATION BODIES CONTRIBUTE TO GOVERNANCE Insurance companies, classification (‘Class’) societies Classification societies set technical standards for and certification schemes act as de facto private building and operating ships and offshore structures sector governance. They play key roles in ensuring such as oil platforms. They certify that vessel responsible operation in line with regulations or building complies with relevant IMO and other towards common voluntary standards focused standards, and regularly survey ongoing construction on technical, environmental, social and economic work to ensure continuing compliance. Insurers requirements. Companies failing to meet these require vessels to maintain Class standards as a requirements may lose their insurance or license to condition of the insurance. Failure to maintain Class operate. Examples include financial guarantees for certification can result in loss of insurance cover, a oil pollution clean-up and compensation under the powerful financial incentive to maintain standards IMO’s CLC Convention and Bunker Convention necessary for safe operation. (Goal 14). The guarantees, ‘Blue Cards’, are provided Several certification schemes apply to standards by Protection and Indemnity Clubs (P&I Clubs) prescribing the quality or performance of a given insuring shipowner liabilities for just over 90 per cent practice, procedure or product. For example, of ocean-going tonnage (see text box). Through risk standards steer internal company work processes, prevention, reduction and sharing, insurers help to design and performance of products and services, protect society and underpin economic growth. and labour conditions. They are more than just technical documents. They steer behaviour, embed norms and provide ‘recipes for reality’.86 They are one of the most important governance systems regulating the functioning of companies. PROTECTION AND INDEMNITY CLUBS More than 80 per cent of global trade is carried by sea, and 11.7 billion tons of cargo was carried by ships in 2017, according to UNCTAD. The world fleet comprises about 94,600 ships totaling more than 1.3 trillion gross tons, of which 1.2 trillion is insured with one of 13 International Group (IG) P&I Clubs. Each is owned by its shipowner members in a form of non-profit mutual insurance: A pooling agreement means IG P&I Clubs share risks beyond a US$ 10 million retention. Add in a collective reinsurance contract, and this arrangement provides up to US$ 3.1 billion cover per ship per incident for shipowner liability risks such as wreck removal, personal injury, and damage to cargo and other third-party property. The P&I insurance limit for pollution liability is US$ 1 billion per ship per incident. 86 St. Clair & Aalbu, ‘Business action for climate-resilient pathways: the role of standards’, DNV GL, 2017. Well-Governed Ocean | 41 Berra1 / istock Delivering on the Global Goals By preventing accidents, managing risks, creating Insurers enable sustainable marine development. transparency and ensuring trust through quality However, ‘enable’ can have a negative connotation standards, insurance, classification and certification if risk shifting allows an insured party to act bodies are important in fostering sustainable irresponsibly. Insurers should be transparent in development. supporting responsible behaviour and in clearly indicating activities that will result in loss of insurance Marine insurers contribute to Goal 14 for Life Below cover. They should also support a wider and more Water by setting clear expectations on limiting the globally consistent enforcement of regulations and risk of accidents that could harm environments. international conventions, thereby providing a global The significance of this is shown in the funding protection of the marine environment. of clean-up and paying compensation following incidents that result in casualties. This includes Insurers can fight ocean pollution wreck removal and the containment and remediation The MARPOL convention Annex V in force since 1988 of pollution from oil and other hazardous substances. prohibits commercial vessels from dumping plastic They contribute to decent work and economic growth and requires ports to provide adequate reception [Goal 8] by compensating workers for personal injury facilities for waste from ships. More than and supporting bereaved families. 150 countries are signatories. Insurers should Protecting employee rights work within their spheres of influence to promote monitoring of maritime industries to ensure The global private insurance regulations also include compliance as well as ensuring adequate waste guaranteeing payment of wages and repatriation reception facilities in ports. expenses for seafarers abandoned due to an employer’s insolvency. This guarantee is required The classification societies have developed a under the ILO Maritime Labour Convention. All marine series of notations for vessels to prove voluntary insurers work to provide loss prevention advice to compliance with additional pollution prevention avoid on-the-job injury. Hence, the private sector has measures and upcoming environmental regulations. a strong self interest in improving working conditions These notations show compliance with all and the environmental footprint of industries. mandatory MARPOL requirements, but also contain additional requirements such as stricter oil-tank protection, approved ballast water treatment systems, compliance with the Hong Kong Convention for Ship Recycling (Goal 12) and improved technical and management procedures to reduce discharges to sea and emissions to air (Goal 13). 42 | Global Goals, Ocean Opportunities RESPONSIBLE FINANCE Financial institutions are lenders and investors; More focus on reporting and sharing data from providers of financial products, services and ocean-related industries would raise transparency and infrastructure; and, advisors, enablers and more. In reduce riskwhen distributing capital. This is similar these roles, banks have a responsibility and the power to recommendations of the Task Force on Climate- to benefit society through responsible and sustainable related Financial Disclosures set up in 2015 by the business conduct. international Financial Stability Board.88 For ocean- related industries, such data would not be limited to The UNDP estimates, meeting the Global Goals financial information but should also cover data along will require US$ 5–7 trillion annually.87 Financial the value chain to understand underlying risk. institutions will be essential for providing infrastructure, loans, project risk assessment, The changes to traditional risk models required in advice on financing projects, combatting financial moving more towards alignment with the Global Goals crime, and using monetary leverage to promote provide a new direction and framework to choose projects that contribute to meeting the Global Goals. from. Taking a long-term perspective, this seems like Responsible finance is about developing financial the right thing to do and might also be expected to institutions able to use their position, knowledge have positive effects on business. and capital to support the Global Goals. In these Finance has huge resources and competence in ways many financial institutions are moving from backing new technology, entrepreneurs and companies a ‘do no harm’ mandate to leveraging finance to do that can create a better and more sustainable future. good. By choosing not to finance companies that have weak governance and contribute to societal and Collaboration is the key to success and would itself environmental harm, such institutions make it harder create opportunities. Banks are used to working for such companies to operate. together on syndicated deals. A common set of principles across all financial institutions, would The complexity of deciding where capital should be make it easier to have shared expectations and distributed is growing, but innovation for dealing with practices. Responsible corporate behaviour should it opens new opportunities. Big data, new technologies be financially rewarding. Stock market investors’ and industry information could be made available for growing focus on sustainability has traditionally been companies to use in assessing their environmental and about avoiding the worst operators. It is increasingly social impacts. about identifying the best ones. Tomorrow’s winners will be the companies that, over time, create value for their stakeholders in a sustainable manner. FINANCIAL RISK — THE CHANGING RISK PICTURE The Finance Industry has come a long way since the launch in 2003 of the Equator Principles, developed by financial institutions to assess environmental and social risks in project-financing transactions. Today, the UNEP Principles for Responsible Banking connects Global Goals with the Paris Agreement. These Principles are backed by 55 banks. Meeting the Global Goals is a long-term aim requiring long-term policy solutions that go beyond current practice. The Principles for Responsible Banking are a framework to identify and assess where a bank’s portfolio and service offerings ‘generate, or could potentially generate, the most significant positive and negative environmental, social and economic impacts’. The initiative ‘Principles for Responsible Investment’ (PRI)91 provides research and education, and facilitates collaboration, to help investors align their responsible investment practices with the broader sustainable objectives of society as currently best defined by the Global Goals. 87 Impact Investment to close the Global Goals funding gap 88 See FSB website at fsb.org. 89 See unpri.org. Well-Governed Ocean | 43 “ Portra / istock Delivering on the Global Goals Goal 16 on Peace, Justice and Strong Institutions In most of our is a key target for the finance sector, which is in the forefront of applying and helping to devise laws and meetings with practices to prevent, detect and report financial Small Island crime and corruption. Developing States Finance has influence within its own sector and with customers to support Goal 8 on Decent Work and Developing and economic growth. Banks and finance play Nations, the lack of an important role in building financial literacy, supporting startups and entrepreneurs. They can enforcement and ensure that working conditions, equality and diversity capacity building are maintained in the sector’s own supply chain are the most and expect the same from customers and other stakeholders. pressing issues. So, Supporting innovation for the ocean even if regulations are in place, lack Few industries are challenged as much and as rapidly by disruptive new business models as the finance sector. New expectations from customers, new technologies enabling online transactions and their tracking, and stricter regulations, are driving change of enforcement is a barrier for many to create a level “ in the industry. This also makes it an important contributor to Goal 9 on Industry, Innovation and playing field. Infrastructure. In partnership with regulators, the – Erik Giercksky industry could support and finance innovation seeking Head, Sustainable Ocean Business to improve the health and productivity of the ocean. UN Global Compact 44 | Global Goals, Ocean Opportunities International cooperation and governance at work Ship Recycling Transparency Initiative Using the online platform shiprecyclingtransparency.org, shipowners share information on their approaches to ship recycling based on pre-defined disclosure criteria developed jointly by key industry stakeholders. Cargo owners and investors access this information from different companies to assist with decision making about the companies with which they chose to do business. The SRTI is a market-based approach to improving ship recycling practices in the current absence of global standards. ITOPF90 This not-for-profit source of objective technical expertise is available to all parties affected by accidental pollution from ships. Established in 1968 and funded by shipowners via their P&I insurers, ITOPF is a respected authority on preparedness and response to oil spills. It provides 24/7 support to shipowners and their P&I Clubs and has attended over 800 incidents in 100 countries. Cooperation between ITOPF and P&I Clubs improves claims handling and it also helps to ensure that clean-up of oil spills and restoration of natural resources match best industry and scientific practice. Bonds and green loans Financing targeted specifically at environmentally friendly operations is a growing market. It can allow companies to tap into new sources of finance. This shift in lending criteria takes time. Banks need to change their risk models and to gain regulatory approval. In the years ahead, however, such financing should become cheaper than standard financing because of the lower risk involved. 90 Formerly the International Tanker Owners Pollution Federation, itopf.org. Well-Governed Ocean | 45 PUTTING BUSINESS ON THE CASE A PRINCIPLES-BASED APPROACH FOR THE OCEAN WE WANT With the deadline for the Global Goals only a decade away, many companies feel a strong sense of urgency to act. Clear expectations from business leaders, employees, shareholders, customers and clients are often reflected in impatience towards slow multilateral processes. Coming together and setting standards and expectations within the private sector have never been more important. Strong alliances driven by the ambition to deliver on the Global Goals inclusively and transparently can accelerate the world’s transition to becoming a more sustainable place. Harnessing the power of market forces for this may bring the financial leverage needed for this major effort. Ocean Principles on the way sturti / istock One of the main targets of the UN Global Compact Action Platform for Sustainable Ocean Business Action from the top since its launch in 2018 has been to detail how The Principles are directed at company boards the Ten Principles of the Compact specifically and executive management and are designed as address ocean-related business. This reflects an a tool for pursuing above-minimum standards increasing ambition within the private sector to towards excellence in sustainability. They will be a set shared expectations on industry’s impacts and reference point for interaction between companies responsibilities related to a clean, healthy and on sustainable uses of the ocean. The Principles do productive ocean. The Compact plans to launch a set not prescribe a new reporting framework but set of ocean Principles and practical guidances at the UN expectations for voluntary qualified reporting using General Assembly in September 2019. existing instruments. This set of Principles is being developed jointly by the Action Platform participants, including representatives of ocean-related industries, academic institutions, Governments, NGOs and UN bodies. The Principles are subject to wide consultation, with input coming from relevant stakeholders across the global regions. With sector-based guidances, this initiative addresses how businesses should approach the key environmental, social and governance issues related to the ocean, including marine waters and resources. They are intended for use by companies whose business may impact on the ocean, and by those that are part of an ocean-productivity value chain. 46 | Global Goals, Ocean Opportunities REFERENCES ABPmer, 2015. 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Marine Drugs. 16 (10): 355. Published 29 Sep 2018. doi:10.3390/ md16100355 The World Bank, ESMAP and SERIS, 2018. Where Sun Meets Water: Floating Solar Market Report— Executive Summary. Washington, DC: The World Bank. Global engagement for the ocean All over the world people are celebrating, researching and taking action for ocean health and opportunities. The ocean bridges generations as well as continents. It is for our generation to demonstrate the stewardship, leadership and determination required Global_Pics / istock to find the common solutions for 'The Ocean That We Want'. Biologists from 'Projeto Tamar’ during routine research in the archipelago of Fernando De Noronha. The annual Global Citizen Concert in Central Park, New York, is dedicated to fighting plastic from entering the ocean. Global Compact's youngest ocean health champion, Otto. Dear Erik, le all The UN is amazing. It helps peop t job of around the world... It does a grea d safe . The ocea ns are keeping the worl much just as important to keep safe. Too into the ocea ns ever y year... pollution goes Plastic is bad for all fish. h plastic. People should stop using so muc dable All new plastic needs to be biodegra a plas tic tax. UN insp ecto rs or they pay and give should check plastic companies them fines for bad actions. I hope you Thank you for reading my letter, Koldunov / istock agre e and can help . Beach clean up Kuta, Bali Indonesia From, Otto Joyce THE TEN PRINCIPLES OF THE ABOUT THE UNITED NATIONS UNITED NATIONS GLOBAL COMPACT GLOBAL COMPACT As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labour, environment and anti-corruption. Launched in 2000, the mandate of the UN Global Compact is to guide and support the global business community in advancing UN goals and values through responsible corporate practices. With more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks, it is the largest corporate sustainability initiative in the world. For more information, follow @globalcompact on social media and visit our website at www.unglobalcompact.org. © 2019 United Nations Global Compact 685 Third Avenue New York, NY 10017, USA The Ten Principles of the United Nations Global Compact are derived from: the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.