Bloomberg Ocean Initiative doubles down on ocean safety with $204 million dedication to strengthen marine ecosystems, empower coastal communities and struggle local weather change
New York, NY — In the present day, Bloomberg Philanthropies introduced it’s increasing its dedication to guard the ocean, coastal communities and marine ecosystems. The Bloomberg Ocean Initiative will make investments $204 million to leverage data-driven options, coverage options, and neighborhood involvement to guard coral reefs, cease unlawful fishing, and safeguard marine ecosystems and biodiversity which might be in danger from the rising impacts of local weather change. In the present day’s dedication builds on Bloomberg’s efforts to struggle local weather change and goals to spur significant ocean motion 45 days forward of this 12 months’s COP27, the place Bloomberg can even sponsor one of many first-ever pavilions devoted to showcasing the ocean’s essential function within the struggle towards local weather change.
“The health of the ocean is critically important to people’s lives and livelihoods around the world. At Bloomberg Philanthropies, we’ve had success uniting conservation groups, local leaders, and national governments to protect the ocean. Now we’re deepening and expanding that work with a major new investment,” stated Patricia E. Harris, CEO of Bloomberg Philanthropies. “The more international partners and funders we can bring together, the faster we can reach the ambitious target of protecting 30% of the ocean by 2030 – and the faster we can strengthen communities that depend on the ocean every day.”
“We can’t begin to solve the climate crisis without considering the role of the ocean. Our ocean serves as an important climate regulator and a source of livelihood for one out of every 10 people in the world,” stated John Kerry, U.S. Particular Presidential Envoy for Local weather. “Conserving or protecting at least 30% of the global ocean by 2030 is crucial for meeting climate and biodiversity goals. The Bloomberg Ocean Initiative will help serve as a catalyst for scaling funding, solutions, and engagement on the challenges we face with ocean conservation.”
The growth will assist nations and communities meet the worldwide purpose of defending 30% of the ocean by 2030 (30×30) in a few of the most biodiverse, climate-critical and economically essential locations all over the world. To guard and defend the ocean, Bloomberg Ocean companions will advocate for science-based insurance policies, work with communities to guard marine ecosystems, advance transparency at sea, strengthen coral conservation and sort out key threats like overfishing and air pollution. Bloomberg Philanthropies can even spearhead efforts to dramatically enhance non-public, public and philanthropic funding for ocean options and the communities that want them.
This newest funding announcement builds on Bloomberg Philanthropies’ dedication in the direction of and confirmed observe document of restoring and defending essential ocean ecosystems. Final 12 months on the UN Basic Meeting, Bloomberg Philanthropies joined with different foundations and governments to commit a collective $5B to assist the safety of 30% of land and sea by 2030. In the present day’s announcement of the Bloomberg Ocean Initiative brings Bloomberg Philanthropies’ funding in the direction of ocean conservation efforts to over $364 million since 2014 leading to vital strides to revive and shield essential ocean ecosystems. This consists of over 100 new insurance policies on the native and nationwide degree which have strengthened safety of 10.8 million sq. miles of ocean – almost thrice the realm of the USA. This system has supported the work of main companions Oceana, Uncommon, International Fishing Watch, and the Wildlife Conservation Society (WCS) to enact new insurance policies, shield coral reefs, and advance fishing vessel transparency. Bloomberg will proceed to work with these organizations and start working with new companions together with Blue Ventures, Coral Vita, the Commonwealth Secretariat, the International Fund for Coral Reefs, the Outlaw Ocean Mission and Nationwide Geographic Pristine Seas to assist its expanded efforts.
“As a peer and ally in the climate fight, it is a delight to see Mike Bloomberg and Bloomberg Philanthropies doubling down on their commitment to oceans,” acknowledged the United Nations Atmosphere Programme (UNEP) Govt Director Inger Andersen. “As we learn more about the oceans’ critical role in global ecosystems, it has become clear we must turn our attention to conserving it as much as possible.”
“We are too often told by loud voices that climate and environmental action is too costly, when in fact the cost of inaction is far, far greater,” stated Sam Teicher, Co-Founder & Chief Reef Officer of Coral Vita. “This is even more true for the threats facing the ocean, which for so many is treated as ‘out of sight and out of mind.’ This exciting commitment by Bloomberg Philanthropies not only will fund critically-needed solutions to preserve the ecosystems that sustain us all, but hopefully will galvanize many others to get off the sidelines and into this fight for our lives by putting their considerable financial resources and political influence to work.”
“Global Fishing Watch is increasing transparency in global fishing activity, in no small part because of the vision and generosity of Bloomberg Philanthropies,” stated Tony Lengthy, CEO of International Fishing Watch. “From Chile to Norway, we’ve built unprecedented partnerships with governments around the world, sharing their proprietary vessel tracking data on our public map to increase accountability and enforcement on the water. With Bloomberg Philanthropies, we can boost transparency to help end illegal fishing, protect marine ecosystems, and deliver fair and inclusive ocean management.”
“For eight years, Bloomberg Philanthropies has been our partner in winning policy change to sustain the ocean’s ability to feed people and to provide livelihoods, especially to small-scale fishers,” stated Andrew Sharpless, CEO of Oceana. “We have also worked together to protect important ocean habitats and to find ocean solutions to climate change.”
“Our planet’s ocean is in grave peril. So, too, are many coastal communities that rely upon healthy fisheries and vibrant marine ecosystems,” stated J. Charles Fox, Govt Director of Oceans 5, the world’s main marine funders’ collaborative. “Bloomberg’s commitment to ocean conservation is among the largest in history. It is designed strategically to tackle the biggest problems impacting coastal communities and the world’s biodiversity. Mike Bloomberg’s continued leadership effectively challenges all of us to strengthen our commitment to marine conservation. It is a remarkable gift at a crucial time for the world’s oceans.”
“At Pristine Seas we are excited to partner with Bloomberg’s Ocean Initiative to help protect vital places in the ocean,” stated Enric Sala, Nationwide Geographic Explorer in Residence and founding father of Pristine Seas. “We have been abusing the ocean for too long, but if we protect at least 30% of it by 2030, then there is a chance that the ocean will continue to provide for us forever.”
“Ocean action and climate action are inextricably linked,” stated Brett Jenks, CEO of Uncommon. “Through the Bloomberg Ocean Initiative, Mike Bloomberg and Bloomberg Philanthropies have been instrumental in empowering local leaders and coastal communities to be effective stewards of the ocean that sustains us all. We are proud to be a BOI partner and our ongoing work to safeguard critical ocean ecosystems and build the climate resilience of communities around the world.”
“Bloomberg Philanthropies continues to expand on its commitment to protect the world’s oceans and climate resilient coral reefs,” stated Dr. Cristián Samper, President and CEO of Wildlife Conservation Society. “By working in partnership, we can safeguard the most vibrant and diverse marine ecosystems while helping coastal communities stay strong in the face of climate change.”
The ocean is on the entrance line of the local weather disaster, defending the planet from the worst impacts of local weather change by absorbing 90 p.c of the surplus warmth attributable to emissions produced by human exercise. However as local weather change intensifies, the ocean is altering sooner than it ever has – growing coral loss of life, coastal erosion, and weakening its capability to manage international local weather and climate patterns – but it stays an typically ignored a part of the local weather change debate and receives lower than one p.c of philanthropic local weather funding. With this announcement, Bloomberg goals to additional assist fill the funding hole and shift the eye of local weather leaders and funders to ocean ecosystems.
About Bloomberg Philanthropies:
Bloomberg Philanthropies invests in 941 cities and 173 nations all over the world to make sure higher, longer lives for the best variety of folks. The group focuses on 5 key areas for creating lasting change: the Arts, Schooling, Atmosphere, Authorities Innovation, and Public Well being. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s giving, together with his basis, company, and private philanthropy in addition to Bloomberg Associates, a professional bono consultancy that works in cities all over the world. In 2021, Bloomberg Philanthropies distributed $1.66 billion. For extra info, please go to bloomberg.org or comply with us on Facebook, Instagram, YouTube, Twitter, and LinkedIn.