Flowing over three-quarters of the earth and holding 97% of the entire planet, oceans have become the lifeline of earth. They not only emit over half of the oxygen in the atmosphere but also soak up the most carbon from the atmosphere, making us survive on the earth. However, despite all the advantageous points, oceans have always been overlooked during international development and maintenance projects. However, after many decades, two leading organization of the world have shaken hands for preserving the oceanic ecosystem and maintaining deep-sea health.
The World Economic Forum and the Marine Science Institute of University of California, Santa Barbara (UCSB), have recently shaken their hands for combating against the adverse impacts of human activity on the ocean and other aquatic lives. Yesterday, both international agencies publicized the report of their partnership for enhancing the health of the seas and ocean, all across the globe. Alongside the improvement of oceans, the venture will also take care of maritime resources and will take initiative to improve them.
The new joint venture aims to protect the entire aquatic economy, which worth $2.5-trillion. Moreover, the partnership will be sponsored and supported by the Benioff Ocean Initiative, the UCSB’s Marine Science Institute’s applied program, which is trying to improve ocean health by using science and technology, and also by the David and Lucile Packard Foundation, a subsidize which will sponsor the venture for improving the ocean lives, as well as its protection and management manners.
Commenting on this matter, Dominic Waughray, the chief of public-private partnership and an affiliate of the managerial board of World Economic Forum said, “This revolutionary joint venture will tie the interested public-private cooperation together and advance the industrialized revolution in order to help the international community to meet up the sustainable development objective of ocean.”
As said by the World Wildlife Fund, the goods and services generated by the oceans worth an estimated amount of $2.5 trillion or more each year, which is equivalent to the seventh largest financial system in the globe. Hence it is highly essential to preserve this natural ecosystem. The value, oceanic community delivers each year is one of the most major parts of the international economy and its continual damage is affecting the livelihoods of 80% populace of the world.