Highlights and images for 18 March 2024

While 2024 is another significant year for the Ocean, what makes it different from, and as crucial as, previous ones? It is with this question in mind that major players in ocean conservation attended the 15th edition of the Monaco Blue Initiative (MBI) as part of the Monaco Ocean Week. Discussions took place during three sessions, which addressed the following topics:

• Ocean protection and governance – success stories and lessons learned from the past 15 years, and goals for the decade to come; 
• A Sustainable and Regenerative Blue Economy – the role of the private sector to drive the shift towards a resilient Ocean; and
• The role of the Mediterranean Sea in achieving “30x30.”

The meeting also provided updates on key topics, such as the ongoing negotiations for an international plastics treaty, agreement on fisheries subsidies, Our Ocean Conference 2024, and 2025 UN Ocean Conference (UNOC 2025).

In his welcome address, HSH Prince Albert II of Monaco recalled the positive changes that have taken place for the Ocean since the MBI was launched in 2010. He urged participants to consider all the tools, resources, and knowledge at their disposal in support of the global movement for the Ocean.

Several keynote speeches were delivered throughout the day. Jean-François Ferrari, Minister for Fisheries and the Blue Economy, Seychelles, stressed the need for an inclusive co-management approach hat supports environmental protection and socio-economic development. 

Sun Shuxian, Chinese Vice Minister of Natural Resources and Director General, State Oceanic Administration, via video message, highlighted the importance of long-term human development, the Sustainable Development Goals (SDGs), and the development of emerging marine industries.

António Costa Silva, Minister of Economy and Maritime Affairs, Portugal, called for changes in the prevailing economic model that prioritizes sustainable use of the Ocean as part of the solution. 

Keynotes were also made by: Charlina Vitcheva, Director-General, Directorate-General for Maritime Affairs and Fisheries, European Commission, and Christos Stylianides, Minister of Maritime Affairs and Insular Policy, Greece both of whom emphasized the role of the private sector. 

During the discussions, panelists addressed next steps following such milestones as the adoption of the High Seas Treaty, including collaboration with the private sector and local communities, and gaining their trust for successful implementation. Experts also highlighted concrete solutions for a sustainable and regenerative blue economy, such as marine habitat protection and restoration, sustainable use of marine ingredients such as algae, and innovative mechanisms like biodiversity credits. They also highlighted new tools such as maritime spatial planning which can help clarify priorities in constrained maritime spaces, for example the Mediterranean, and the need to “decomplexify” marine protection to accelerate action. 

A Memorandum of Understanding on the “Blue Economy and Finance Forum” (BEFF) was signed by the French Organizing Committee of UNOC 2025, the Oceanographic Institute of Monaco, and the Prince Albert II of Monaco Foundation. BEFF will convene on 7-8 June, 2025, in Monaco, ahead UNOC 2025.

In closing, Robert Calcagno, CEO of the Oceanographic Institute, Prince Albert I of Monaco Foundation, focused on the need to plug the gap between current funding for SDG 14 (life below water) and what is needed to achieve it.  

Given the urgency of addressing the triple planetary crisis of biodiversity, climate, and pollution, Olivier Wenden, Vice-President and CEO, Prince Albert II of Monaco Foundation, said we cannot wait for the perfect solutions. 

The meeting took place at the Oceanographic Museum of Monaco on 18 March 2024. Launched in 2010 by HSH Prince Albert II of Monaco, the MBI is co-organized annually by the Oceanographic Institute, Prince Albert I of Monaco Foundation, and Prince Albert II of Monaco Foundation. It brings together major players in ocean conservation and governance to explore solutions to challenges facing our Ocean and to promote a sustainable blue economy.