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EU commits $3.71 billion to ocean protection and sustainability initiatives in 2024

Efforts target marine pollution, sustainable fisheries and blue economy investments
EU commits $3.71 billion to ocean protection and sustainability initiatives in 2024
€980 million under the EU's Recovery and Resilience Facility aims to combat ocean pollution

The European Union (EU) has unveiled a substantial financial commitment of €3.5 billion ($3.71 billion) that aims to safeguard the ocean and advance sustainability objectives through a diverse array of initiatives this year. The EU announced the commitment during the annual ‘Our Ocean’ conference that took place in Athens, gathering representatives from approximately 120 countries.

EU Commissioner for Environment, Oceans, and Fisheries, Virginijus Sinkevicius, emphasized the shared responsibility in preserving the ocean. “The ocean is part of who we are, and it is our shared responsibility,” he stated. The EU’s 40 commitments encompass a broad spectrum of measures from fighting ocean pollution to supporting sustainable fisheries. Moreover, they include investments in the blue economy. Hence, the blue economy promotes the sustainable use of marine and freshwater resources for economic activity.

Among the most notable commitments are €1.9 billion to support 14 investments and one reform regarding sustainable fisheries in Cyprus, Greece, Poland and Portugal.

Moreover, €980 million under the EU’s Recovery and Resilience Facility (RRF) aims to combat ocean pollution. This funding will support four investments and two reforms in Cyprus, Finland, Greece, Italy and Spain. It focuses on initiatives that seek to mitigate pollution and preserve marine ecosystems.

Read: Egypt to build 2 solar power stations with $20.6 million in EU funding

The EU’s commitments underscore its dedication to promoting sustainable practices in ocean-related activities, including fisheries, pollution mitigation, and economic development. By investing in these initiatives, the EU aims to strengthen the resilience of marine ecosystems and advance the transition towards a more sustainable blue economy.

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