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14 | STRENGTHENING OCEAN GOVERNANCE

Sylvie Goulard, Co-Chair of the International Advisory SESSION 3.
Panel on Biodiversity Credits, presented the global THE ROLE OF THE
initiative to create new financial products for nature, MEDITERRANEAN SEA
launched by France and the United Kingdom in June
2023, to help countries, project leaders and the private IN ACHIEVING 30X30
sector achieve the Global Biodiversity Framework “The Mediterranean Sea contributes substantially
targets. to regulating climate patterns and maintaining
biodiversity. At the same time, the Mediterranean
In addition, tried-and-tested offshore oil and gas Basin has immense potential for the blue economy
experience and technology is being leveraged to sector”, said Christos Stylianides, Minister of Maritime
develop more sustainable marine energies, explained Affairs and Insular Policy of the Hellenic Republic,
Francesco Prazzo of holding company SBM Offshore, in his opening keynote address. To overcome the
which is designing and building floating wind farms. multiple challenges facing this area characterised
Lastly, a combination of incentives and regulatory by intense activity and significant socio-economic
obligations is required to drive change, especially and geopolitical disparities, collaborative marine
in the fields of shipping (the MSC Foundation has spatial planning based on rigorous science is vitally
established a super coral nursery in the Bahamas) important. “Working together to address common
and fisheries. Olivier Le Nézet, President of the French challenges at sea, such as threats to biodiversity and
National Marine Fisheries and Aquaculture Committee the freedom of navigation, illegal and unregulated
(CNPMEM), drew attention to the EU’s exemplary fishing, environmental degradation and cross-border
management in this field and the need to replicate crime, is the only way forward. Our vision for the
their model in other seas around the world. “Climate Mediterranean Sea is one of hope, resilience, and
change is also altering the geopolitics of resource shared prosperity”, concluded the Greek Minister
exploitation,” Le Nézet explained. “The challenge lies after presenting the GR-Eco Islands project, a
in ensuring that resource exploitation is sustainable for governmental initiative aimed at turning the Greek
the ocean as well as for populations.” islands into sustainable models of energy autonomy,
digital innovation and ecological mobility.