With climate change being the main threat to the health of the ocean, ocean-based industries are calling on governments to make clear economic development pathways and enable companies to invest decisively in a net zero future.
“Ahead of the 2020 UN Ocean Conference, COP 25 is a strategic moment to build on this opportunity and unlock the full potential of the Ocean,” said Lise Kingo, CEO and Executive Director of the UN Global Compact. “We need more commitments and faster scale-up from the business sector to create a more sustainable ocean and deliver on the 2030 Agenda.”
Vidar Helgesen, Special Envoy to the High Level Panel for a Sustainable Ocean Economy, said “The High Level Panel for a Sustainable Ocean Economy will issue actionable recommendations for better ocean policy and politics. Working and engaging with the private sector is critical to achieve a healthier and wealthier ocean.”
In the session, leading companies and experts demonstrated how ocean and ocean-based industries can play a significant role in keeping global warming to a maximum of 1.5°C. To achieve this objective, companies can commit to set climate targets across their operations and value chains aligned with a 1.5°C trajectory and reaching net-zero emissions by no later than 2050.
The UN Global Compact and the High Level Panel for a Sustainable Ocean Economy (HLP) continues to raise awareness and explore solutions to contribute to the success of the 2020 UN Ocean Conference.
The UN Global Compact and the High Level Panel for a Sustainable Ocean Economy, with the support of Global Compact Network Spain, organized the session in support of COP25’s special focus on the Ocean.
Speakers at the Special Session included Federico Buyolo, Director General of the Office of the High Commissioner for Agenda 2030 for Spain; Vidar Helgesen, Special Envoy to the High Level Panel for a Sustainable Ocean Economy; Professor Ove Hoegh-Guldberg, Director of the Global Change Institute and Professor of Marine Science, University of Queensland; Ignace Beguin Billecocq, Manager Ocean and Climate, UN Global Compact; Wenche Gronbrekk, Head of Sustainability and Risk, Cermaq Group; Megan Morikawa, Global Sustainability Director, Iberostar Group; Jose Rivero, General Manager, Lloyd’s Register España, S.A; Justin Mundy, Special Advisor, Willis Towers Watson ; and Maria Damanaki, High Level Panel Advisory Network Co-Chair.
About the United Nations Global Compact
As a special initiative of the UN Secretary-General, the United Nations Global Compact works with 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 UN Global Compact guides and supports 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 60 Local Networks, it is the largest corporate sustainability initiative in the world.
About the High Level Panel for Sustainable Ocean Economy
The High Level Panel for a Sustainable Ocean Economy was established in September 2018 to catalyze bold, pragmatic solutions for the future of ocean health and wealth. A unique global initiative of 14 serving heads of state, the High Level Panel is working with governments, businesses and expert stakeholders to develop a roadmap for rapidly transitioning to a sustainable ocean economy and to trigger, amplify and accelerate responsive action worldwide. Australia, Canada, Chile, Fiji, Ghana, Indonesia, Jamaica, Japan, Kenya, Mexico, Namibia, Norway, Palau and Portugal are all represented on the High Level Panel. Learn more at oceanpanel.org.