History-making in the High Seas | Davos 2024 | World Economic Forum | Summary and Q&A

TL;DR

The BB&NJ treaty, which aims to protect marine biodiversity in areas beyond national jurisdictions, is crucial for fostering good governance and preserving the benefits of the ocean. It has the potential to create protected areas, tap into marine resources, and promote economic benefits.

Key Insights

• 🖐️ The BB&NJ treaty is a monumental achievement in ocean governance and will play a crucial role in protecting marine biodiversity.
• ❤️‍🩹 The treaty's implementation requires the ratification of 60 countries by the end of 2025.
• 🖐️ Philanthropic organizations and businesses have an important role to play in supporting the treaty's implementation and promoting sustainable practices.
• 🔒 Collaboration between governments, private sector companies, and civil society is essential for the successful implementation of the treaty.
• 😋 The treaty's focus on marine genetic resources opens up opportunities for advancements in industries such as medicine, cosmetics, and food supplements.
• 😒 Environmental impact assessments and area-based management tools are vital for sustainable use and conservation of marine resources.
• 🌊 The BB&NJ treaty can contribute to the achievement of the Sustainable Development Goals, particularly SDG 14 on ocean conservation.

Transcript

snowy Davos we are going to dive into the high seas and the deep ocean welcome my name is Monica Medina and I'm the president and CEO of the wildlife conservation Society we are a field-based conservation organization that works all over the world on conservation in Ocean areas and on land and we also run an aquarium in New York so we are very enga... Read More

Questions & Answers

Q: What does the BB&NJ treaty aim to achieve?

The treaty aims to establish good governance in the high seas, create protected areas, and ensure the equitable sharing of benefits from marine genetic resources.

Q: How long did it take to negotiate and finalize the treaty?

It took 10 years of negotiations before the treaty was unanimously agreed upon by negotiators from all around the world.

Q: How many countries have signed the BB&NJ treaty so far?

Within 6 months of its adoption, 84 countries signed the treaty, with Chile being the first country to ratify it.

Q: What are the key areas of focus in the BB&NJ treaty?

The treaty focuses on marine genetic resources, area-based management tools, environmental impact assessments, and capacity building and technology transfer.

Summary & Key Takeaways

• The BB&NJ treaty creates a governance framework for protecting marine biodiversity beyond national jurisdictions, ensuring the equitable sharing of benefits from marine genetic resources.

• It took 10 years to negotiate and finalize the treaty, and within 6 months of its adoption, 84 countries signed it.

• The treaty focuses on four key areas: marine genetic resources, area-based management tools, environmental impact assessments, and capacity building and technology transfer.