Monaco Blue Initiative highlights role of collaboration, co-development

The 15th edition of the Monaco Blue Initiative (MBI 15) reflected on how to accomplish the urgent tasks for 2024, including progressing on ratification of the UN treaty on the conservation and sustainable use of biodiversity beyond national jurisdiction (BBNJ Agreement), delivering on the objectives of the Kunming-Montreal Global Biodiversity Framework (GBF) by 2030, and addressing challenges like deep seabed mining.

The meeting also discussed how to overcome setbacks like the failure by members of the World Trade Organization (WTO) to agree on a second phase of the Agreement on Fisheries Subsidies.

According to the Earth Negotiations Bulletin (ENB) summary report, the meeting brought together more than 160 participants from international organizations, governments, the private sector, financial and scientific institutions, and civil society. They discussed steps to realize recent achievements in global Ocean protection, with many pointing to the role of the private sector and Indigenous and local communities and calling for collaboration and co-development, to help mainstream sustainable blue innovations in the economy. Speakers stressed “the need to base these innovations on solid scientific, as well as practical, knowledge,” ENB reports.

MBI 15’s three sessions addressed the following topics:

• Ocean protection and governance: Success stories and lessons learned from the past 15 years, and goals for the decade to come;
• A Sustainable and Regenerative Blue Economy: The role of the private sector to drive the shift towards a resilient Ocean; and
• The role of the Mediterranean Sea in achieving the ‘30×30’ target (the initiative for governments to designate 30% of the Ocean as protected areas by 2030).

Participants also heard updates on ongoing multilateral processes regarding the Ocean and upcoming international conferences.

The MBI, ENB writes, was launched in 2010 by HSH Prince Albert II of Monaco. The initiative was conceived as an informal think tank to accelerate the integration of Ocean issues into international negotiations on the environment. The platform brings together major players in Ocean conservation and governance in annual debates to explore solutions to challenges facing our Ocean and to promote a sustainable blue economy.

The MBI is co-organized by the Oceanographic Institute, Prince Albert I of Monaco Foundation, and Prince Albert II of Monaco Foundation. MBI 15 convened at the Oceanographic Museum of Monaco on 18 March 2024.