EDEN IAS

United Nations oceans conference

UPSC CURRENT AFFAIRS | U.N. OCEANS CONFERENCE EYES STEPS TOWARD HIGH SEAS AGREEMENT | 02ND JULY | THE HINDU

SYLLABUS SECTION:  GS II (INTERNATIONAL ISSUES)

WHY IN THE NEWS?

Recently, United Nations has held a oceans conference to ensure global cooperation towards protection and sustenance of the Ocean ecosystem.

  • The conference was co-hosting by the Governments of Kenya and Portugal.

MORE DETAILS:

  • The conference is set to adopt a declaration that, though not binding on its signatories, could help implement and facilitate the protection and conservation of oceans and their resources,
  • It is a vital new international agreement on Biodiversity Beyond National Jurisdiction, also known as the Treaty of the High Seas.

 KEY AGENDA OF THE CONFRENCE

  • Moratorium on Deep Sea Mining:
  • Carbon Sequestration:
  • Blue Deal:
  • It includes global trade, investment and innovation to create a sustainable and resilient ocean economy.
  • High Seas are Unregulated:
  • Oceans cover some 70% of the earth’s surface and provide food and livelihoods for billions of people.
  • No comprehensive legal framework covers the high seas in United Nations oceans conference.
  • Threat to Ocean:
  • Threats to the oceans include global warming, pollution, acidification and other problems Potentially harmful deep-sea mining also lacks rules.
  • Financing models for ocean conservation as well as coming up with science-based, innovative solutions that might improve ocean health.
Way Forward
  • Expanding digitization efforts to lower costs for business in developing countries, setting up a blue bank for investments, and improving regulations of blue finance.
  • All of these suggestions can be seen as a call for a Blue New Deal, as sister to the Green New Deal already gaining political support and traction around the world.
  • Action-oriented policy recommendations to build a post-COVID-19 Blue Recovery in trade, finance and innovation.

Read more: UPSC CURRENT AFFAIRS

SOURCE: THE HINDU