(Finance) – Invaluable source of benefits for the planet and for peoplethe oceans they are exposed to many threats. Suffice it to say that every year they flow into the oceans over eight million tons of plastic debris: a pollution which threatens river estuaries, coral reefs, fish and the millions of families for whom the oceans are a source of livelihood. Most of the mass of plastics discharged into the oceans comes from waste thrown ashore or flowing into rivers. If many developing countries were equipped with better wastewater and rainwater treatment plants, about 1.5 million tons of microplastics would be avoided each year in the oceans. The problem, among other things, is exacerbated by the rapid population growth in many cities around the world.
Driven by the urgent need to protect these fundamental natural resources, within the framework ofOne Ocean Summit a Brest the Agence Française de Développement (AFD), the European Investment Bank (EIB) and the Kreditanstalt für Wiederaufbau (KfW) on behalf of the German Federal Government – together with the Cassa Depositi e Prestiti (CDP), the Italian national promotion institute as well as the financial institute for development cooperation, and the Instituto de Credit Oficial (ICO), the Spanish National Promotional Bank – have now committed themselves to double the target set within the scope of the Clean Oceans Initiative which aims to reduce the dispersion of plastic waste in rivers, seas and soil in particular in the most polluting countries. The European Bank for Reconstruction and Development (EBRD) as a new member.
So, 4 billion euros in loans by the end of 2025 instead of the 2 billion initially foreseen by 2023.
This initiative, which represents the most important investment platform dedicated to financing projects to reduce plastic pollution in the seas, has already achieved 80% of its three-year goal by providing € 1.6 billion in long-term funding for public and private sector actions to reduce the dumping of plastics and microplastics and other trash into the oceans through better solid waste management , waste water and rainwater.
Beyond 20 million people in Africa, Asia, Latin America and Europe will benefit from the projects which have been signed so far as part of the Clean Oceans Initiative, covering for example an improved wastewater treatment service in Sri Lanka, China, Egypt and South Africa, solid waste management in Togo and Senegal and stormwater management and flood protection in Benin, Morocco and Ecuador.
The Chief Executive Officer of AFD Rémy Rioux stated: “I am proud of the contribution that the AFD group – together with five major public development banks (BPS) – provides the strengthening of the Clean Oceans Initiative, which has pledged to double its funding to € 4 billion by 2025. The commitment, announced at the One Ocean Summit in Brest, demonstrates that BPS work closely with stakeholders in the areas coastal and river to reduce ocean plastic pollution resulting largely from land-based activities. I am also delighted by the EBRD’s adhesion to the initiative, which strengthens Team Europe in the fight to protect the oceans ”.
“The protection of the environment and natural resources is an important objective for CDP and is one of the priorities of the 2022 Strategic Plan-2024. In this phase of relaunch and exit from the pandemic, we once again confirm our commitment to achieving the objectives of the UN Agenda 2030. CDP is ready to actively promote constructive partnerships, to join in the joint commitment with other partners of the Clean Oceans Initiative and is pleased to welcome the EBRD as an important new member “, underlines the CEO of CDP Dario Scannapieco.
“We are delighted to join this important initiative for the future of our oceans and the planet. The strong commitment of the EBRD to green investments and the experience gained in combating the degradation of marine ecosystems such as the Baltic Sea, the Black Sea, the Mediterranean Sea and the Red Sea make us ideal partners to move towards this goal. Our activities to improve the environmental impact of municipal infrastructure, shipping, real estate and tourism will contribute significantly to reducing the presence of waste, and in particular plastic, in the oceans “, says the President of the EBRD. Odile Renaud-Basso.
The President of the BEI Werner Hoyer he has declared: “To be sustainable, our planet needs clean oceans. I am proud of the success of the Clean Oceans Initiative and warmly welcome the EBRD as a new partner in pursuing our ambition. This type of cooperation is essential to address global challenges and is an excellent example of the contribution that can be made by EIB Global, our operational arm dedicated to international partnerships ”.
“To consolidate the model of sustainable growth and development, it is necessary to give priority to safeguarding our oceans. In this sense, ICO, as a national promotional bank, reaffirms its commitment to the Clean Oceans Initiative. We are proud to join with other national promotion banks in the efforts of the founders of this initiative (AFD, KfW and EIB) to reach the new target set for 2025 “, declares the President of ICO José Carlos Garcia de Quevedo.
“Pollution, litter spills and overfishing put heavy pressure on the oceans and the richness of the species that inhabit them is strongly compromised “this is the comment of the CEO of KfW Stefan Wintels. “Therefore KfW, one of the founders of the Clean Oceans Initiative, welcomes the new commitment to double the overall target by 2025 and welcomes the EBRD’s membership.. This step, which constitutes a common European response to an important global challenge, strengthens our joint commitment on the front of the fight against the proliferation of plastic waste ”.
(Photo: CC BY-SA 3.0)