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.
- 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.
- 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