Summary
On Thursday, participants of the Ocean Risk Summit met throughout the day to hear keynote speakers report on the changing ocean, building resilience, including through education, innovation, and exploration, and on ocean risk solutions, including their financing.
HSH Prince Albert II of Monaco outlined the main ocean-related challenges, stressing the need to holistically consider our development model, taking into account that a sustainable future “demands the reconciliation of humankind’s aspirations with the needs of the natural environment.” H.E. Ambassador Marlene Moses, Nauru, urged the financial institutions to invest in emissions’ reduction and towards building resilience.
Hon. Dominic LeBlanc, Minister of Fisheries, Oceans, and the Canadian Coast Guard, underscored that under the Canadian Presidency, the Group of Seven (G7) will work towards securing sustainable ocean management.
In the morning, participants split in five working groups to focus on:
- Natural capital and ecosystem services;
- Cities, islands, coastal infrastructure and tourism;
- Regenerating ocean life;
- Fishing and aquaculture; and
- Marine pollution, including litter and plastics
Highlights of the day included:
- An announcement of a new partnership between the Nature Conservancy and XL Catlin for a breakthrough project on blue carbon credits, combining benefits from coastal resilience and carbon sequestration
- Advanced discussions on building an Ocean Risk Index
- Concrete recommendations from the working groups, including on: using open data to make SDG14 the most transparent of all SDGs.
- Arctic educator Jamie Buchanan-Dunlop, Digital Explorer, meeting with participants via webcast to discuss the various live, educational programmes to engage students with scientists in the field
- Karmenu Vella, Commissioner for Maritime Affairs and Fisheries, European Commission, emphasizing, via webcast, the 14 Sustainable Blue Economy Finance Principles developed in collaboration by the European Commission, WWF, the Prince of Wales’s International Sustainability Unit, and the European Investment Bank, to guide investment in the blue economy
- Sir Richard Branson, Virgin Group Founder, addressing the Summit via webcast, to emphasize the role of businesses, countries’ commitments, and the need for technological breakthroughs to speed up the transition towards a sustainable future
In the evening, participants continued to network and exchange ideas informally during a dinner reception.
IISD Reporting Services, through its ENB+ Meeting Coverage, has provided daily web updates and a summary report from the 1st Ocean Risk Summit. The summary report is now available in HTML and PDF.
José María Figueres, Former President of Costa Rica and Founder of Ocean Unite
HSH Prince Albert II of Monaco
Alex Rogers, University of Oxford
H.E. Ambassador Marlene Moses, Nauru
Robert Powell, The Economist Intelligence Unit
Oliver Steeds, Nekton
Kristin Jacobs, Florida House of Representatives, US
Participants during the Working Group on Fishing and Aquaculture
Chip Cunliffe, XL Catlin, and Jamie Buchanan-Dunlop, Digital Explorer
L-R: Annette Detken, KfW Devlopment Bank; Zacharay Harding, Caribbean Climate-Smart Accelerator; Amal-Lee Amin, Inter-American Development Bank; Torsten Thiele, Global Ocean Trust; and Brendan Plessis, XL Catlin.
Karen Sack, Ocean Unite
Maria Damanki, The Nature Conservancy
L-R: Louise Heaps, World Wildlife Fund for Nature (WWF); Leo Heileman, UN Environment; Steve Adler, Ocean Data Alliance; and Rolando Morillo, Rockefeller Capital Management
Dominic LeBlanc, Minister of Fisheries, Oceans and the Canadian Coastguard, Canada
José María Figueres, Former President of Costa Rica and Founder of Ocean Unite introduces Sir Richard Branson, Founder, Virgin Group
Participants enjoy cocktails on the lawn
Participants during dinner
Karen Sack, Ocean Unite; Her Majesty Queen Noor of Jordan; and José María Figueres, Former President of Costa Rica and Founder of Ocean Unite
José María Figueres, Former President of Costa Rica and Founder of Ocean Unite, consulting with H.E. Ambassador Marlene Moses, Nauru