BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:69adbcdec4d04 DTSTART:20210609T120000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20210609T143000Z LOCATION:Online\, SUMMARY:UNCTAD15 pre-event: Harnessing the benefits of the ocean economy fo r sustainable development CLASS:PUBLIC DESCRIPTION:A sustainable and resilient ocean economy is vital for achievin g the policy objectives set out in the 2030 Agenda for Sustainable Develop ment\, as well as other international agreements\, including the SAMOA Pat hway\, Paris Agreement\, the Convention of Biological Diversity and the Se ndai Framework. For small island developing States (SIDS) and other vulner able island nations\, as well as coastal developing countries\, the sustai nable development of the ocean economy\, including fisheries and aquacultu re\, coastal tourism\, maritime transport\, offshore hydrocarbon and renew able energy\, ecosystem services and the potential use of marine genetic r esources\, holds considerable promise. At the same time\, these economies face important trade-related and environmental challenges\, including mari ne and coastal pollution\, ocean acidification\, natural disasters and cli mate change impacts\, as well as constraints in terms of geography\, conne ctivity and capacity.\n\nWhile the COVID-19 pandemic and its extensive soc io-economic impacts may give rise to new priorities\, it underlines the cr itical importance of openness\, trade and infrastructure readiness\, econo mic diversification\, risk-assessment and resiliency building. Changing ci rcumstances arising from the impacts of the pandemic will need to be consi dered as part of future trade\, logistic and development strategies going forward.\n\nKey issues for consideration\n\nSustainable trade in ocean-bas ed goods and services. UNCTAD estimates the value of tradable oceans-based goods and services is about $2.5 trillion annually. Oceans and seas suppo rt almost 3 billion people living by the coast. However\, the overall valu e of key ocean assets is much larger and has been estimated conservatively to be at least $24 trillion. There is a need to introduce significant str uctural changes in our economies\, on how we trade\, patterns of consumpti on and production\, food and transport systems\, in ways that may have see med too disruptive or expensive before. These changes are needed to ensure the sustainability of oceans.\n\nFisheries and aquaculture. Fish is one o f the most internationally traded foods\, with a total export value of $16 4.1 billion in 2018. Developing countries have a share of about 54% by va lue and 60% of traded quantities and\, with a net revenue higher than tha t of all other agricultural commodities combined. However\, we have reache d the limit of what can be harvested from the ocean. To ensure the sustain able use of marine resources requires innovative policy\, regulatory and e ntrepreneurial oceans economic approaches including in the way to trade an d conduct business. It should also include efforts to conclude a multilate ral fish subsidies agreement that would allow phasing out harmful economic incentives for stocks sustainability and to channel fresh resources towar ds blue investment.\n\nSustainable shipping. Over 80% of the volume of wo rld merchandise trade is carried by sea\, from port to port\, with around 60 percent of seaborne trade loaded and unloaded in developing countries. For SIDS and other island nations\, shipping and seaports are lifelines fo r external trade\, food and energy security\, and tourism\, as well as in the context of DRR. At the same time\, SIDS face particular transport-rela ted challenges\, including limited connectivity to global shipping network s\, high transport costs\, and vulnerability to ship-source pollution\, as well as climate change\, which need to be addressed as part of sustainabl e development strategies and plans. Initiatives to reduce emissions from m aritime transport and increase energy-efficiency\, including those under t he auspices of the IMO\, are important for achievement of global climate g oals and can also reduce the carbon footprint for regional value chains an d developing country exports.\n\nClimate resilient ports. Seaports are ess ential to all ocean economy activity. They provide access to global trade\ , markets\, and supply-chains for all countries\, and are integral to mari time transport\, as well as fisheries\, offshore energy exploration and ec onomic activities in coastal zones. However\, these critical assets are at considerable and growing risk of climate change impacts from coastal floo ding and extreme events. In the absence of adaptation\, related damage\, d isruption and delay may have important trade-related repercussion and comp romise the sustainable development prospects of vulnerable island nations and coastal populations. Multifaceted and innovative approaches to adaptat ion and resilience building will be required to address this challenge\, a nd upscaled capacity-building will be critical for those at greatest risk. \n\nSustainable tourism. Tourism represents a significant part of the ocea n economy in many parts of the world.  At the same time\, it has been one of the most impacted oceans-based sectors because of the COVID-19 pandemi c with a reduction of over 70% in international tourists’ arrivals in 2 020. Rebuilding inclusive\, resilient\, and sustainable tourism will requi re fresh investment that protects and regenerates the ecosystems on which it depends and reinvest tourism revenues into local communities to build c apacity and increase local employment\, diversify economic opportunities a nd increase resources for coastal and marine restoration and protection.\n \nSustainable offshore energy. Upscaling capacity for energy efficiency an d renewable energy generation (including offshore) may also bring major co -benefits\, in terms of climate change mitigation and adaptation (e.g. to the impacts of rising temperatures)\, as well as reduce dependency on ener gy imports and related expenditure. Exploring ways to increase investment in alternative energy sources and low-cost innovations will be key in dive rsifying the energy mix in many SIDS and coastal developing countries.\n\n Objectives of the HL panel\n\nWhile the ongoing pandemic has given rise to a range of new challenges\, the UNCTAD15 Conference\, to be held from 3 –7 October 2021\, offers a timely opportunity for consideration of poli cy responses that support blue COVID-19 recovery strategies and address th e socio-economic and environmental challenges that coastal developing coun tries and vulnerable SIDS face in harnessing the benefits of the ocean eco nomy. This HL panel discussion\, held on the margins of the UN World Ocean s Day provides a platform for exchange on some of the key challenges and o pportunities to help identify priority areas for accelerated policy action and inform related intergovernmental processes\,  particularly  UNCTAD1 5 and the 2nd UN Ocean Conference in 2021.\n\n \n\nView event recording\n https://www.youtube.com/watch?v=6ZFTLX1EZrE\n\nView meeting on unctad.org\ nhttps://unctad.org/meeting/unctad15-pre-event-harnessing-benefits-ocean-e conomy-sustainable-development DTSTAMP:20260308T181558Z END:VEVENT END:VCALENDAR