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The Ocean Protection Gap: Assessing Progress toward the 30×30 Target
Ocean protection needs $15.8 billion funding annually, but is receiving only $1.2 billion
Context: As the world approaches the third United Nations Ocean Conference (UNOC3) in France from June 9 to 13, a new report has issued a stark warning: current investments in ocean protection are falling far short of what is needed to meet the global 30×30 target.
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The report, titled The Ocean Protection Gap: Assessing Progress toward the 30×30 Target, prepared by a coalition of non-governmental organisations and funders, estimates that $15.8 billion per year is required to achieve this target.
Understanding the 30×30 Target
- The 30×30 target is part of the Kunming-Montreal Global Biodiversity Framework, adopted by 196 countries in 2022 to halt and reverse nature loss.
- The goal is to conserve 30% of terrestrial, inland water, marine, and coastal areas through Protected Areas (PAs) and Other Effective Area-Based Conservation Measures (OECMs).
- Marine Protected Areas (MPAs) are regions designated for the long-term conservation of marine ecosystems, cultural heritage, and biodiversity.
- OECMs, on the other hand, offer effective biodiversity conservation outside formal protected areas.
The Ocean’s Economic and Environmental Significance
- Oceans play an indispensable role in global ecosystems:
- They generate half of the oxygen we breathe.
- They regulate climate by absorbing heat and storing carbon.
- They contribute $2.6 trillion annually to the global economy—exceeding the GDP of Brazil or Canada.
- Ocean-based sectors such as shipping, tourism, fisheries, and marine energy made up 7% of global trade in 2023, according to United Nations Trade and Development (UNCTAD).
- Despite their significance, ocean ecosystems face mounting threats from climate change, policy fragmentation, and shifting trade dynamics, jeopardizing future gains.
The Reality of Ocean Protection
- A World Database on Protected Areas (WDPA) update from June 2 reports that only 8.6% of the ocean is protected, and a mere 2.7% is effectively protected. This means that just 2.7% of global waters have regulations and active management to prevent damaging activities.
- Beth Pike, director of the Marine Protection Atlas, expressed concern, stating:
- Many Marine Protected Areas (MPAs) are unfunded, unstaffed, and unenforced.
- Less than one-third of coastal countries have specific, measurable, and time-bound plans aligned with the 30×30 target.
- Many countries’ plans lack specific protection percentages or are not time-bound.
- To close the protection gap, experts emphasise the importance of strong regulation, active monitoring, and community-led conservation efforts. Pike urged UNOC3 to mark the end of ‘paper parks’—protected areas that exist only in name—and the beginning of real accountability.
The Financial Challenge: Closing the Gap
- Establishing MPAs requires $0.6 billion annually, but $15.2 billion is necessary for their long-term management. Developing countries bear a disproportionately heavy burden, needing $4.2 billion annually to manage marine conservation efforts.
- Investing $15.8 billion per year in MPAs and OECMs could unlock $85 billion in returns annually by 2050. Benefits include:
- Replenishing fish stocks and ensuring sustainable fisheries.
- Protecting coastal wetlands that prevent property damage.
- Preserving seagrass ecosystems, which absorb carbon emissions and mitigate climate change.
- Boosting tourism revenues, creating jobs, and stimulating local economies.
- Currently, 90% of ocean conservation funds come from public sources, with 78% deployed domestically. The second-largest contributor is Official Development Assistance (ODA), providing 12% of total funding, followed by philanthropy and private finance.
- The report called on developed nations to commit $20 billion annually by 2025 and $30 billion annually by 2030 to help developing countries meet conservation goals. Norway and Sweden have met their fair share of funding commitments, while 23 out of 28 assessed countries have paid less than half of their expected contribution.
Innovative Funding Solutions
- The report outlines six key financial strategies to bridge the funding gap:
- Repurposing harmful fishing subsidies.
- Introducing a fossil fuel extraction levy.
- Implementing tourism taxes.
- Issuing sovereign blue bonds.
- Conducting debt-for-nature swaps.
- Accessing adaptation finance through grants or concessional debt.
- These tools could mobilise $6 billion to $18 billion annually toward ocean conservation.
- Blue bonds are debt instruments issued to finance sustainable marine projects with environmental and economic benefits. Similarly, debt-for-nature swaps allow countries to refinance their debts in exchange for redirecting funds to conservation.
- Although private finance is expected to play a limited role in the short term, experts anticipate that corporate and private sector involvement could significantly contribute to marine protection after 2030.
A Call to Action
- The Ocean Protection Gap report urges immediate investment in ocean conservation and regulatory reforms to strengthen MPA enforcement and management.
- As governments convene at UNOC3, the need for stronger financial commitments, innovative funding mechanisms, and community-led stewardship has never been more pressing.
- If the world hopes to achieve the 30×30 target, protect marine biodiversity, and sustain economic benefits from ocean ecosystems, bridging the $14.6 billion funding gap is essential. The time to act is now.
