The EU took to the floor and began by expressing their willingness to talk and show some movement to help finalize the Treaty. The EU understands how crucial monetary benefit sharing is and feels we are almost there. At Our Ocean in Panama the EU committed 816.5 million euros to actions for 2023 – one of largest amounts ever announced for ocean protection. The EU pointed out that this commitment will go to objectives close to BBNJ – MPAs specifically – sustainable fisheries, climate change and ocean protection. However it should be noted that monetary benefit sharing is not going to be the only source of funding for BBNJ which means that there will be many other sources of funding for the BBNJ. It is not useful to run through all 39 commitments but a few specific examples are as follows: the EU have committed 320 million for ocean research to protect marine biodiversity. Together with colleagues in Panama the EU will be creating a regional centre for Latin America and the Caribbean. This regional centre will have access to all the data that’s created by the Copernicus network of satellites, including very interesting information on the high seas. The EU has committed to the renewal of the satellite constellation Sentinel One C for a value of 250 million euros which will be observing the Arctic and it will also be of great value to BBNJ in terms of the science and in terms of being able to protect the high seas and to inform decision making here. And last but not least the EU has committed 126 million euros to protect biodiversity in the oceans around Benin, Ghana and Tanzania. This is of course in addition to the 40 million that was announced at the beginning of the resumed session of IGC5, which are of course dedicated to the BBNJ and will focus on a ratification and early implementation. It is our duty to finance this properly and to uphold ambition for environmental protection of the oceans, particularly ABMTs, have made collective efforts to maintain ambition. Let us add a new chapter to a nice blue book on our desks and make it a chapter we can all be proud of.
