The report outlines rules, institutions, processes, agreements, arrangements and activities to manage the use of the ocean. It also focuses on the governance of six ocean-based industries:
- International shipping;
- Offshore oil and gas;
- Offshore renewable energy;
- Marine aquaculture;
- Marine fisheries;
- Seabed mining.
For each of the industries, the report gives examples of initiatives focusing on the sustainable management of the oceans.
Finally, this report presents governance issues regarding three of the most prominent challenges to the ocean: climate change, biodiversity loss and ocean plastics.
Global ocean governance is the foundation of the United Nations Convention on the Law of the Sea. It incorporates international and national governance, as well as private governance initiatives. Private governance mechanisms, such as standards, best practices and certification schemes, are added to public governance.
The ocean is considered a new economic frontier, with a potential for significant economic growth. However, it faces many challenges, like ocean plastics, biodiversity loss and climate change .
Sturla Henriksen, UN Global Compact’s Special Advisor for Ocean, said:
The UN Global Compact’s Action Platform for Sustainable Ocean Business brings together a cross section of leading actors of global business, research and government institutions to address how the ocean industries can actively underpin and advance the full range of the UN’s 17 Sustainable Development Goals.
You can read the full report in the PDF herebelow