SPONSORED CONTENT

ADB, EIB join forces to protect oceans, support blue economy

January 15, 2021 23:30 IST | ANI Press Release
Tennis player James Blake
Both institutions will finance activities aimed at promoting cleaner oceans

Manila [The Philippines], January 15 (ANI): Asian Development Bank (ADB) and European Investment Bank (EIB) on Friday formed a new clean and sustainable ocean partnership to support initiatives in Asia and the Pacific to help meet Sustainable Development Goals (SDGs) and climate goals of the Paris Agreement.

Both institutions will finance activities aimed at promoting cleaner oceans through the reduction of land-based plastics and other pollutants discharged into the ocean, as well as projects to improve the sustainability of socio-economic activities that take place in oceans or use ocean-based resources.

"Healthy oceans are critical to life across Asia and the Pacific, providing food security and climate resilience for hundreds of millions of people," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono.

"This memorandum of understanding between ADB and EIB will launch a framework for cooperation on clean and sustainable oceans, helping us to expand our pipeline of ocean projects in the region and widen their impacts."

The partnership will support projects that reduce marine plastic pollution including integrated solid waste management projects like recycling, circular economy principles like designing out plastic waste, and promoting clean rivers and waterways including through improved wastewater management and inclusive sanitation.

ADB said the partnership will also focus on sustainable fisheries management and sustainable seafood supply chains; sustainable management, protection, and restoration of marine and coastal ecosystems and resources; integrated coastal protection activities; disaster risk preparedness; and green shipping, green ports, and maritime infrastructure with a focus on increasing safety and environmental performance.

In addition, ADB and EIB will develop joint technical assistance programmes and advisory support to help partners get sustainable blue economy and clean oceans projects off the ground.

Healthy oceans are a key priority of ADB's Strategy 2030. In 2019, ADB launched a five billion dollar action plan for healthy oceans and sustainable blue economies.

EIB is the long-term lending institution of European Union and expects to mobilise at least five billion euros of investments that will contribute to improve the health of oceans and their resources. (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

 

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

ADB, EIB join forces to protect oceans, support blue economy

Manila [The Philippines], January 15 (ANI): Asian Development Bank (ADB) and European Investment Bank (EIB) on Friday formed a new clean and sustainable ocean partnership to support initiatives in Asia and the Pacific to help meet Sustainable Development Goals (SDGs) and climate goals of the Paris Agreement.

Both institutions will finance activities aimed at promoting cleaner oceans through the reduction of land-based plastics and other pollutants discharged into the ocean, as well as projects to improve the sustainability of socio-economic activities that take place in oceans or use ocean-based resources.

"Healthy oceans are critical to life across Asia and the Pacific, providing food security and climate resilience for hundreds of millions of people," said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono.

"This memorandum of understanding between ADB and EIB will launch a framework for cooperation on clean and sustainable oceans, helping us to expand our pipeline of ocean projects in the region and widen their impacts."

The partnership will support projects that reduce marine plastic pollution including integrated solid waste management projects like recycling, circular economy principles like designing out plastic waste, and promoting clean rivers and waterways including through improved wastewater management and inclusive sanitation.

ADB said the partnership will also focus on sustainable fisheries management and sustainable seafood supply chains; sustainable management, protection, and restoration of marine and coastal ecosystems and resources; integrated coastal protection activities; disaster risk preparedness; and green shipping, green ports, and maritime infrastructure with a focus on increasing safety and environmental performance.

In addition, ADB and EIB will develop joint technical assistance programmes and advisory support to help partners get sustainable blue economy and clean oceans projects off the ground.

Healthy oceans are a key priority of ADB's Strategy 2030. In 2019, ADB launched a five billion dollar action plan for healthy oceans and sustainable blue economies.

EIB is the long-term lending institution of European Union and expects to mobilise at least five billion euros of investments that will contribute to improve the health of oceans and their resources. (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22