During the One Ocean Summit in Brest, the Agence Française de Développement (AFD), the European Investment Bank (EIB) and KfW acting on behalf of the German Federal Government committed to double the target of the Clean Oceans Initiative.
he Clean Oceans Initiative decided to raise its target to provide €4 billion of financing by the end of 2025, instead of the €2 billion initially expected to be reached by 2023.
Projects signed so far under the initiative will benefit more than 20 million people living in Africa, Asia, Latin America and Europe.
This commitment, which was announced at the One Ocean Summit in Brest, demonstrates that PDBs work closely with coastal and river stakeholders to reduce plastic pollution in the oceans resulting largely from land-based activities
said AFD Chief Executive officer Rémy Rioux.
CDP CEO Dario Scannapieco said: “Preserving the environment and natural resources is a major goal for CDP and is one of the priorities of the new 2022-2024 Strategic Plan. In times when we re-build our economies, our commitments for the achievement of the 2030 Agenda must not falter. CDP stands ready to play an active role by promoting constructive partnerships and looks forward to join forces with its Clean Oceans Initiative partners and is delighted to welcome EBRD as an important partner.”
In addition, EIB President Dr Werner Hoyer, noted that “this kind of cooperation is crucial to tackling global challenges and a great example of the value that EIB Global, our dedicated arm for global partnerships, can bring.”
Currently, around 8 million tonnes of plastic waste enters the oceans every year. This pollution threatens estuaries, coral reefs, fish and millions of families that rely on the oceans.
The Clean Oceans Initiative identifies projects that decrease the release of plastic waste in rivers, seas and on land globally, with a particular focus on riverine and coastal areas in the most polluting countries located mainly in Asia, Africa and Latin America.
A significant amount of plastic waste enters the oceans from the ten major river systems located in these continents, which lack access to regular waste collection and controlled waste disposal systems, as well as adequate wastewater and stormwater management systems.