New $51 million fund will support inclusive and targeted efforts to protect the health and resilience of the ocean, climate, and communities
Panama City, Panama – Today, at the 2023 Our Ocean Conference, Bloomberg Philanthropies and Arcadia announced a new $51 million joint effort to expand and improve marine protected areas and other effective area-based conservation measures to help reach the global ‘30×30’ ocean protection target.
The new fund launches on the heels of the landmark United Nations Convention on Biological Diversity agreement in December 2022 for the Kunming-Montreal Global Biodiversity Framework. The framework includes a new global goal of ensuring that at least 30 percent of the ocean is effectively and equitably conserved and managed by 2030 (‘30×30’). Bloomberg and Arcadia’s fund will support Indigenous Peoples and local communities (IPLC), non-government organizations, and governments to strengthen the health and resilience of the ocean and marine biodiversity. To be hosted at Oceans 5, the fund will champion ambitious new efforts that can demonstrate effective and equitable paths towards the ‘30×30’ goal, including projects in coastal seas, national waters, and the high seas that are well-connected and long-lasting.
“The Kunming-Montreal Global Biodiversity Framework accomplishes for ocean protection what the Paris Agreement does for climate change – it sets aggressive, actionable targets that governments and organizations across the globe can strive to achieve,” said Antha Williams, who leads the global climate and environment program at Bloomberg Philanthropies. “Bloomberg Philanthropies stands behind countries that are committed to protecting marine biodiversity, their coastal waters, as well as the Indigenous Peoples and local communities that depend on them.”
“In addition to projects at national and international levels, we look forward to supporting initiatives to create and strengthen marine protected areas and conservation measures in coastal waters,” said Dr. Gerardo Fragoso, Director of Environmental Programmes at Arcadia. “Partnerships and scaling of action and resources are what is required now. We look forward to working with Bloomberg and hope to inspire others to join us.”
This announcement follows Arcadia, Bloomberg Philanthropies, and other philanthropic partners’ commitment at the 2022 UN Ocean Conference of a collective $1 billion by 2030 through the Protecting Our Planet Challenge. This $1 billion will support the creation, expansion, and management of marine protected areas and Indigenous and locally governed marine and coastal areas. Since 2014, Bloomberg Philanthropies has invested over $366 million to restore and protect critical ocean ecosystems and has helped pass over 100 new policies at the local and national level that have strengthened the protection of 10.8 million square miles of ocean – nearly three times the area of the United States. Since 2002, Arcadia has awarded more than $400 million in grants to protect endangered nature. A third of this has supported efforts to protect and restore the ocean and marine biodiversity. Alongside Arcadia’s grants to large global organizations, it works with partners around the world to reach organizations working on a local scale.
The ocean is at the front line of the climate crisis. It protects the planet from the worst impacts of climate change by absorbing 90 percent of the excess heat caused by emissions from human activity. But as global heating intensifies, the ocean is changing faster than it ever has and its ability to regulate global climate and weather patterns is weakening. Even with coral death, coastal erosion, and dramatic overfishing of predatory fish populations as evidence of its decline, the ocean remains an overlooked part of the climate change action agenda and receives less than one percent of philanthropic climate funding. With this announcement, Arcadia and Bloomberg Philanthropies aim to step up efforts and shift the attention of climate leaders and funders toward ocean ecosystems.
Arcadia (arcadiafund.org.uk) is a charitable foundation that works to protect nature, preserve cultural heritage and promote open access to knowledge. Since 2002 Arcadia has awarded $405 million to safeguard and restore biodiversity around the world.
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About Bloomberg Philanthropies:
Bloomberg Philanthropies invests in 700 cities and 150 countries around the world to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: the Arts, Education, Environment, Government Innovation, and Public Health. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s giving, including his foundation, corporate, and personal philanthropy as well as Bloomberg Associates, a pro bono consultancy that works in cities around the world. In 2022, Bloomberg Philanthropies distributed $1.7 billion. For more information, please visit bloomberg.org or follow us on Facebook, Instagram, YouTube, Twitter, and LinkedIn.
Media Contact: Daphne Wang, email@example.com
About Oceans 5:
Oceans 5 is an international funders collaborative of 23 Partners and Members who help identify, assess and approve projects for investment. Oceans 5 makes direct grants, leverages matching grants, provides in-kind services and shares strategic guidance – all to support grantees. They focus on projects and campaigns to constrain overfishing, establish marine reserves, and stop offshore oil and gas development. Oceans 5 is inspired by projects that are globally significant and strategic, particularly if they provide tangible and lasting benefits to coastal communities and the world’s oceans. For more information please visit oceans5.org.