The United Nations Conference on Trade and Development (UNCTAD) has promoted a “Blue Deal” for global trade, investment and innovation at the 2022 UN Ocean Conference
The conference which started 27th June and ended Friday 1 July 2022 was held in Lisbon, Portugal.
According to UNCTAD, sufficient and reliable long-term investment in the “Blue Deal” will conserve and sustainably use the ocean for sustainable development.
The “Blue Deal” will support an inclusive recovery from the COVID-19 pandemic and help cushion the world against current and future crises for a sustainable and resilient ocean economy that benefits everyone.
UNCTAD has and is supporting countries to tackle challenges such as plastic pollution, unsustainable fishing and the carbon intensity of maritime transport to ensure a sustainable ocean economy.
The ocean is the next great economic frontier as it holds potential for wealth and economic growth, employment and innovation.
The ocean’s resources provide food, jobs and income for almost 3 billion people, most of whom live in developing countries. But these resources and opportunities are under threat and their protection is underfunded.
