UN-Oceans virtual meeting
10 December 2020
Panel 3: What concrete actions can we take to assist States on oceans and coastal issues in light of existing and novel challenges, including the COVID-19 pandemic?
Ladies and gentlemen,
I would like to highlight three concrete actions that UNCTAD and the international community can take to assist States on oceans and coastal issues. These actions are important in light of both existing and COVID-19 related challenges.
First, we need to ensure that fisheries remain a sustainable economic activity. As we all know, overfishing is an immense problem. While the pandemic has brought some relief with a decrease in fishing activity of around 6.6% since the beginning of the year, the decline will not have a substantial impact on the recovery of fish stocks and marine diversity. It takes between 10-15 years to recover depleted stocks.
To remedy this situation, we need to improve the governance of these resources, ensure more comprehensive management, and critically, reform fish subsidies. Repurposing resources spent on harmful fish subsidies - estimated at about US$10 billion in OECD countries, and possibly ranging between US$20 to 30 billion worldwide - would be an effective means to mobilize funds for a blue recovery from COVID-19.
This brings me to my second point. We need an approach to the blue economy which is holistic, that is, addressing economic, environmental, social, scientific and governance considerations. A good example is a project we recently launched in the Caribbean. We work closely with Costa Rica, Belize, Barbados, and Saint Lucia in developing sustainable coastal and marine biodiversity-based value chains, which offer communities employment, trade and income opportunities while conserving biodiversity.
I also want to emphasize the importance of supporting the tourism sector to survive the pandemic. This sector is a key component of the oceans’ economy and a lifeline for millions of people. The COVID-19 hit on tourism is unparalleled. We estimate that the fall in tourism demand may cost the global economy up to 4.2% of global GDP. Several countries have reacted with special credit lines and funds to protect tourism workers and businesses. We should take this opportunity and rebuild the sector in a more sustainable manner. Better use of technology and more regional tourism offer means to make the sector more resilient and create opportunities with more local value addition. UNCTAD offers assistance in enhancing capacities to harness technology.
My third point concerns maritime transport - the backbone of the ocean economy.
To support the sustainability and resilience of the sector, we need to continue the work on:
- digitalization and optimisation of martitime transport processes,
- continue the work on reliable forecasting of risks and disruptions,
- and support the decarbonization of the industry.
This requires coordinated efforts on several fronts. Countries need to be supported in implementing and enforcing environmental treaties and standards, and in preparing national action plans which address greenhouse gas emissions from international shipping.
Fleets should also be incentivized to switch to ships that are more energy efficient and use clean sources of energy.
To support this transformation, we collaborate with the International Maritime organization. Within the context of the implementation of the IMO 2018 greenhouse gas emission reduction strategy, we assess implications for shipping and ports, connectivity, transport costs and trade competitiveness of developing countries, in particular Small Island Developing States (SIDS), Least Developed Countries and Landlocked Developing Countries.
We also look into legal and regulatory issues and provide support on how to integrate sustainability principles in shipping and ports.
Ladies and gentlemen,
The pandemic has taught us the importance of adaptation, resilience, and constant learning.
We need to work together to ensure the sustainable use of the world’s resources and the inclusive distribution of benefits from the ocean economy. Only then can we speak about a prosperous blue recovery for all.
