Oceans - Solutions Dialogues, Climate Summit 2026

So presumably there's a volume control on here somewhere. That there, yeah, there we go, up volume, look at the tech here. Ladies and gentlemen, if you could take your seats, please. Sorry, as a former chief of protocol back in 1970s, coming in Fiji, I do try and observe the protocol. And we've got two heads of government coming to join us. I'm afraid with such a dignified group of people in the room, we should not stand on ceremony. They, of course, are trapped behind their national flags upstairs listening to President Trump. We were given the poisoned chalice of holding a meeting when the President of the United States was speaking upstairs, but c'est la vie. You will also notice that our meeting has got a oceans, plural, which I'm sure 99% of the people in the room, including me, do not agree with. The ocean is one ocean, singular. So that's what we're here for, the ocean. So for those of you who don't know me, I'm Peter Thomson, former ambassador of Fiji at the United Nations, and now the UNSG's special envoy for the ocean have done for the last eight years. We were asked two weeks ago to arrange this meeting, so apologies for the late notice to you all, and thank you so much for agreeing to come and participate. It shows how engaged those that are in the know are with ocean issues. There is a blue thread, which some of you were in Palau at the Pacific Island Forum Leaders. There's a blue thread that runs from there to this, actually to Trabzon, Turkish delegates are in the room, some of them, to Trabzon in Turkey, where they had a special ocean preparatory meeting for COP31, the Blue COP. So it ran from there, and then from Trabzon, it's run here to this basement of the UN. And from this basement, we're gonna take that blue thread to Nadi in Fiji. and Tuvalu, and Prime Minister of Tuvalu will tell you a little bit about that next month for the pre-COP, as they call it, the Pacific pre-COP, and then to the Blue COP itself in Antalya. So that's the blue thread that's running. I can tell you that when we started out with all this work-- Nice to see you. So the CEO of COP31, the blue COP, has just arrived, Minister Verank. So I can tell you that when we started out on this work in 2015, when SCG14 came into existence, we were shouting down empty corridors. And people like Karen here remember the echoes we were getting back. But look what's happened in the interim. We've got to this stage where you have to adjust your calendars to work out which of 10 ocean meetings you're going to go to. So the world has heard us, but still you can hear to listen to those major speeches upstairs and you won't hear the ocean mentioned. which is, you know, we have still got work to do to get ocean issues onto the table. You know, it's 70% of the planet. And we've got these terrestrial mammals all standing around thinking that they are talking for the planet when they don't mention the ocean. So we've still got our work to do. So thank you all for coming. The idea of this meeting is to put forward solutions, solutions from the ocean community as to how we can help the challenges of climate change. That is the challenge of this meeting. And I know that we've got the brains in this room to make that so. I've been helped enormously in the preparation of this meeting by Dr. Ramakrishna from Woods Hole Institution, sitting on my right. Most of you know Rama, and he will be our moderator. So please give him all due respect. While we're waiting for our two heads of government to arrive, I'm going to give the floor to two people, two CEOs. One is the chairperson, actually, correct title, of the Our Ocean Conference to be held in Halifax next year, and Madam Carney, if you'd like to take the floor, and then we're going to hear from the CEO of COP31 from Turkey, Madam Vrak.

Thank you, Peter. Good morning, everyone. Bonjour, tout le monde. Excellencies, distinguished guests, I'd like to thank Ambassador Peter Thomson for this invitation to participate today. And it's a pleasure and honor to be here as Canada's ocean envoy and chair of the 12th Our Ocean Conference, taking place in Halifax, Nova Scotia, next May. The issues facing our shared ocean are more complex today than ever before. We have long been concerned with the environmental health of our ocean. Now we recognise the inextricable links between our oceans and climate stability, food and water security, energy, human security, and, of course, the infrastructure of global trade. Yet, even as the ocean's importance grows, so does the competition over its spaces and resources. And our response remains fragmented across institutions, sectors, and financing systems. That gap between the scale of the challenge and our capacity to meet it is why we are here today to ask how the international community can better organize itself to secure the ocean as a foundation for prosperity, resilience, and security. Our three areas of discussion today point the way forward. The first is coherence. The entry into force of the BBNJ agreement, also known as the High Seas Treaty, is a major step towards a more coordinated international ocean governance framework. And as we move to implementation, we have a real opportunity to strengthen cooperation among organizations with complementary mandates, including regional fisheries bodies whose scientific and technical expertise will be essential. Canada is ready to engage in this work. That coherence must extend to climate and biodiversity as well. Rising temperatures, acidification, and declining oxygen levels are threatening marine ecosystems and the coastal and Indigenous communities that depend on them. At the same time, the ocean is a critical part of the solution. It is a powerful carbon sink with ready-to-implement mitigation options. That is why Canada joined the Blue NDC Challenge in November 2025, integrating ocean-based solutions into our climate commitments across five areas: blue carbon restoration, marine protected areas, offshore renewable energy, marine decarbonization, and sustainable fisheries. The road to COP31 is a chance for ocean panel leaders to show that the ocean is central to climate action. And of course, none of this works without finance. Achieving our conservation goals will require significantly more investment and better financing models drawing on public, private, philanthropic, and Indigenous-led capital alike. Canada's experience with the project finance for permanence model, along with Indigenous-led stewardship models, offers practical lessons in how durable conservation financing can be structured and delivered, and how it can support species recovery and long-term ecosystem resilience. Today, it's my pleasure to announce that Canada will host the 12th Our Ocean Conference on May the 10th to 11th in Halifax, Nova Scotia. As we plan for Halifax in 2027, Canada is focused on ensuring that the conference delivers ambitious, measurable, and action-oriented outcomes that align with this critical period for global ocean governance. To this end, I will be working closely with a diverse group of ocean leaders and partners to identify how we can create lasting opportunities that advance a healthy, sustainable, and resilient ocean for future generations. I look forward to conversations with many of you in the lead up to the conference, and I hope to welcome you to Atlantic Canada next year. I'm excited to have a chance to showcase ocean technologies and highlight some of the Canadian-made solutions to combat some of the problems facing our ocean. In closing, let me say that there are few things that underscore our global interdependence more clearly than the ocean. No country can manage ocean challenges alone. Cooperation is a necessity. Multilateralism is essential. Canada stands ready to work with you and all partners to advance an ambitious and effective approach to protecting the ocean and the communities that depend upon it. Thank you.

Yes, thank you very much, Madam Carney. I've consulted with the Prime Minister of Tonga on matter of protocol. He's agreed that we should stick with what I announced before, which we will now have the announcement from the CEO of COP31, the Blue COP in Antalya. And Minister Varank, you have the floor.

Thank you very much. Esteemed representatives of states and governments, esteemed participants. First of all, I would like to greet all of you and all participants on behalf of Turkey and the COP31 presidency. As humankind, we have been living for thousands of years in ancient geographies, relying on seas and water resources. Today, we are here not only to discuss

Shayden. The translation.

Yeah, it's on the side.

Which channel?

Can you hear the English interpretation?

English interpretation.

Can you hear the English interpretation?

Can you hear the English interpretation? Yes.

Can everyone hear me? This is the English interpreter speaking. Okay. Okay.

Prime Minister, if you could start from the beginning again, because a lot of people didn't hear your opening.

Thank you.

Thank you very much. I will start from the beginning. Esteemed representatives of states and governments, esteemed participants, I would like to welcome all of you on behalf of Turkey and the COP31 presidency. As humankind, we have been living for thousands of years in ancient geographies, relying on seas and water resources. And today, we are here not only to discuss the challenges facing the ocean, but also to consider how we can translate existing commitments and solutions into implementation. The ocean is no longer merely an environmental issue. It is fundamental to climate stability, biodiversity, food security, trade, energy, coastal economies, and livelihoods of millions of people. This is the reason why ocean health is an integral part of climate action, economic resilience, and sustainable development. After the Industrial Revolution, as environmental pollution began to threaten human life, we recognized the need to act together to protect the environment. And, uh, at this point, as Turkey, throughout our towards COP31, we adopt an action COP approach to addressing climate related challenges facing the world, which are becoming increasingly costly for the global community. As oceans are indispensable to us and one of the most important pillars supporting our existence on Earth, we have included this issue in our action agenda in order to demonstrate the importance we attach to oceans. We discuss now what we can do on oceans with our stakeholders, particularly with our dear friends from Australia. and their, um, Ocean Champion and also Pacific Envoys and with the entire team, the COP31 Climate Champions team, uh, we sit down and, uh, work together. Building on the outcomes of the meeting held in Bonn and further developing them through the discussions held at the Our Ocean Conference in Mombasa, we identified the expectations of countries, civil society organizations, financial institutions, and people concerning the ocean. So, in the period ahead, we aim to take this work one step further through the workshop we hosted in Istanbul in August and the high-level Oceans and Seas event we held in Trabzon on September 10th and 11th. At this point, of course, our objective was to take the outcomes and the work carried out to date one step further and to discuss with all relevant actors when it comes to oceans, what we can do in the period ahead in light of current demands and developments. In this regard, we are very pleased to state that we have achieved many important outcomes. At this meeting, we're attending today. We attach great importance to following the important panel sessions on ocean governance, the ocean climate, biodiversity nexus and financing, technology and private sector solutions, and to developing messages and action oriented outcomes based on these discussions. As ocean actors, We know that we can act together to develop and implement ocean-based solutions before our planet is impacted irreversibly. As Turkey, the fundamental objective we have within our COP31 vision is to connect political commitments, science, finance, technology, and implementation. In other words, we want to move from commitments to measurable implementation. First, we need to establish stronger governance and cooperation among existing international and regional mechanisms. Through the regional and international cooperation initiative that we kicked off under COP31, We aim to strengthen regional solutions in shared data, observation, early warning systems, coastal resilience, blue carbon and capacity building. Secondly, we need to place the ocean, climate and biodiversity nexus at the heart of implementation. We must integrate science and technology more strongly into decision making processes, transform data into cooperation and cooperation into solutions that can be implemented on the ground. Of course, marine pollution and marine litter are also important components. Through the Marine Litter Platform, we aim to facilitate the sharing of good practices and their scaling up at the regional level. Finally, we must mobilize the scaling power of finance and private sector. The objective is clear, to move from projects to project pipelines, from them to investment, and from investment to scale. It is a fundamental principle for us that this transformation should be inclusive and in particular take into account the needs of developing countries, small island developing states and coastal communities. We define the success of COP31 not by more commitment, but by stronger coordination, better science, bankable solutions and measurable implementation. With the understanding that the future of the oceans is our future, we must act together for a better world leaving no one behind. Thank you all very much for your attention. And the COP31 will be held in November in Antalya, and you are all invited. Thank you.

Thank you very much, Madame von Wrancke. We will be there for sure. Now my great pleasure to introduce the Prime Minister of Tuvalu. the Honorable Filipe Taito, one of the great champions from our region, from the Pacific, but I have to say one of the great global champions, particularly on the subject of sea level rise, for obvious reasons from his country. And without further ado, Prime Minister, you have the floor.

Thank you, Ambassador Peter Thompson, and sorry for coming in slightly late. Excellencies, ladies and gentlemen, with all our protocols duly observed, I am delighted to offer some perspectives and reflection in this opening session of this solution dialogue on ocean action and ocean leadership. For Tuvalu, the ocean is not one issue among many on the international agenda. The ocean is simply our home. It is our history, it is our culture, and it is our future. The ocean sustains our people, it defines our identity, connects our islands, and is our highway to our wider blue Pacific continent. But the ocean that has sustained us for generations is literally changing before our own eyes. Climate change induced sea level rise now threatens our homes, threatens our fresh water, food security and cultural heritage. Ocean warming and acidification threatens our coral reefs, fisheries and marine ecosystem. Coastal flooding places our communities, infrastructure and national development at growing risk. For Tuvalu, there are these not predictions of some distant future. They are the reality of our present situation. Yet, Tuvalu and our fellow Pacific Island countries do not come before the international community simply as vulnerable nations. We come as custodians of the vast Pacific Ocean. We come as leaders in ocean governance, and we come with a solution. That is why the premise of this dialogue is so important. The ocean can no longer be treated simply as an environmental issue. It is a strategic system underpinning climate stability, food and energy security, global trade, livelihood, infrastructure, and human security. An unhealthy ocean cannot support a healthy economy. And unstable climate cannot sustain stable society. And prosperity that destroys the natural system upon which it depends cannot endure. So the question before us today is no longer whether the ocean matters, because science has answered that. Economics has answered that. And the lived experience of island and coastal community has also answered that question. The real question is whether we are prepared to act at the scale, speed, and coherence that this moment demands. At the recent Pacific Island Forum, Pacific leaders reaffirmed that the ocean lies at the heart of our identities, our culture, livelihood, health, and economies. Pacific leaders also reaffirmed our responsibility as stewards of the blue Pacific Ocean for present and future generations. And our message is clear. The ocean, climate, and biodiversity crisis cannot continue to be addressed separately. They are all interconnected and must be managed in an integrated manner. We must connect them in our policies, in our institutions, in our financing, and most importantly, in implementation. We must also keep the 1.5 degree Celsius target within reach. For Pacific people, the 1.5 degree target is not an abstract negotiating benchmark. It is a threshold of survival. And as sea levels continue to rise, our response must also to protect the sovereignty, statehood, and legal rights of our people. Maritime zones established in accordance with international law must remain secure, notwithstanding climate change related sea level rise. Climate change must never be allowed to erase a country's legal identity, its sovereign rights, or its place within the family of nation. And that is why the UN declaration on sea level rise that the UNGA will formally adopt by consensus on first day this week is pivotal to our collective response to the impact of rising seas. The declaration reaffirms the principle of statehood continuity, the permanency of maritime boundaries, and the right of affected community regardless of the impact of sea level rise. So the international community does not suffer from a shortage of ocean commitment. We have agreement, we have declaration, we have institutions, and we have strategies. What we continue to lack is connection between commitment and delivery. For small island developing states like Tuvalu, that gap is particularly evident, and we need to connect ocean science and observations with better decisions. We need to connect national plans with investable programs, and we need to connect international finance with locally-led implementation. This does not necessarily require another institution. It requires greater coherence among the institutions and commitment we already have. And ambition must be matched by means of implementation. Ocean finance must be predictable, accessible, long-term, and fit for purposes. Ocean finance must respect national sovereignty, strengthen local ownership, and above all, deliver tangible benefit to affected community. We must move beyond financing isolated project toward building a system capable of taking successful ocean solution to scale. Excellencies, COP31 provide us with an important opportunity, and Tuvalu is honored to host the pre-COP leader side event on Funafuti, bringing leaders together at a decisive moment on the road to Antalya. Tuvalu will have the opportunity to demonstrate the extent of our vulnerability to the impact of climate change, particularly climate change induced sea level rise. At the same opportunity, Tuvalu will showcase our homegrown adaptation measures to enhance the resilience of our coastlines. But the pre-COP cannot simply be another meeting on the international agenda. It must be a bridge from Pacific priority to global actions. And COP31 must be more than a COP. that simply recognize the importance of the ocean. If Antalya is to become a true Blue COP, I believe we need three things, namely, firstly, a meaningful negotiated outcome that embeds the ocean more firmly within the implementation of the UNFCCC and the Paris Agreement, connecting the ocean and the climate change dialogue with national plans, adaptation finance and future COP decisions. Secondly, there must be an ambitious action agenda that converts political commitment into practical initiatives with leadership, resource, milestones, and accountability. Ocean observations, coastal resilience, blue carbon ecosystem, sustainable fisheries, clean maritime transport, and locally-led adaptation must move from scattered project to implementation at scale. And thirdly, we need complementary political leadership that brings these efforts together, reflects the priorities of SIDS and vulnerable coastal communities, mobilize partnership and sustain momentum beyond COP31. These three elements should not compete against each other, rather they must reinforce one another. That is how we move from recognition to implementation, from individual project to scale, and from promises to measurable result. This dialogue, therefore, should produce more than another summary of views. It should identify a number of consequential actions that government, the United Nations system, financial institution, businesses, and other partners can carry forward towards 2030. Because the time for merely recognizing the ocean climate nexus has passed, and the time for fragmented action has passed. The time for coherent leadership, implementation, finance, and measurable result is now. From New York, let us build a political result. At the pre-COP Leaders Summit, let us forge consensus. And in Antalya, let us deliver a truly blue COP worthy of the urgency of this moment and worthy of the generation who will inherit the ocean we will leave behind. And Tuvalu stand ready to work with all of you, because ultimately, we do share the one ocean, the one climate, and the one planet, and the one future. Thank you, Ambassador.

And thank you, Prime Minister. I think the panels have got the challenge set clearly before them now by the Prime Minister. We have one more intervention from a head of government. The Prime Minister of Tonga has kindly agreed to say a few words as well. Lord Faku'anoa, you have the floor.

Thank you, Ambassador Peter Thompson and may observe all protocol, acknowledge the importance of the dialogue this morning. Tonga's message is simple. Small states, large oceans, global solutions. Our ocean is not a sector. It is the foundation of our climate resilience, our biodiversity, our food security, our prosperity, our culture, and our sovereignty. The greatest challenge before us is fragmentation. The greatest opportunity is integration. The UN needs a dedicated Department of Ocean to coordinate, to integrate a cohesive ocean governance post 2030. Pacific has long understood that climate, oceans, and biodiversity are inseparable. Ocean warming, biodiversity loss, ecosystem degradation, and climate impacts are all interconnected challenges. Yet they continue to be addressed in fragmented institutions, fragmented policies, and financial systems. There can be no climate stability without a healthy ocean, and no healthy ocean without addressing climate change and biodiversity loss. all needs to be addressed together. The international community must move from parallel agendas to integrated implementation. We may not necessarily need more institutions, but we may need better connected institutions. Tonga recently ratified BBNJ and looks forward to BBNJ COP1 as an important opportunity to demonstrate how global ocean commitments can be translated into practical implementation, into stronger partnerships, and to realize support for small island developing states. BBNJ should be viewed as part of a broader effort to connect ocean, climate, and biodiversity, strengthen coherence across all of our international ocean architecture. As a practical contribution to this agenda, Tonga is working through the Polynesian Leaders Group to convene a Polynesian Ocean Summit in Tonga in May of 2027. I understand that our colleagues from Canada is also convening an ocean conference in May in Halifax. We will not collide these conferences. I hope we'll coordinate our dates, but May seems to be the operative month for the ocean. will work together on that. The summit will focus on interconnected pillars, and we hope that we will focus on ocean sovereignty and prosperity, ocean resilience and sustainability, and of course, blue economies. It will bring together thought leaders, traditional knowledge holders, scientists, communities, philanthropy, Polynesian voyaging societies, investors, and more to move from ambition to implementation through practical partnerships and investment. Tonga's ambition is to facilitate a major ocean announcement from the Pacific, and we welcome the collaboration of our partners, as well as the United Nations and the initiatives to develop the ocean together. In Tonga, we have humpback whales. And I can't talk about the ocean without bringing them up because they return to Tonga every year from July to October to give birth, to mother their calves, to gain the strength to return to the Antarctic. Once they're in the Antarctic, in the southern oceans, they are beyond the reach of Tonga's protection. As a whale sanctuary, they are safe in Tonga but not when they are in the Southern Ocean. And the reason is clear. Krill fishing is removing the food that sustains the whales that provide us with carbon regulation through their fertilization. IMF digital, IMF estimations, estimate the value of one humpback whale is $2 million. Its contribution to carbon sequestration is the equivalent to 1,000 trees. The almost 2,000 number of whales that visit Tonga every year, that give birth every year, has a massive contribution to the oceans as a carbon sink and also to regulating our climate. It's therefore why Tonga is championing the protection and expanded banning of whaling and pushing for further regulation under the krill fishing that is happening in the Antarctic. So ocean governance must increasingly reflect the ecological connectivity of the whole ocean and our stewardship. The ocean is borderless. This is a construct that was invented by humans. The whales don't know about borders. The krill don't know about borders. We do, and we have an opportunity to do something about it. Healthy ecosystems are essential infrastructure and foundational for the sustainability of our island economies. From reefs to mangroves to fisheries and coastal ecosystems, these all underpin the resilience and livelihoods of our island communities. Investing in nature is therefore not simply an environmental objective, it is an investment in resilience, in habitability, in prosperity, and in the security of our islands. Tonga is looking at how its natural assets can be added to our national balance sheet. The next challenge is implementation. We must move from beyond financing individual projects towards an ocean investment system that rewards integrated outcomes across climate, biodiversity, and sustainable development. We welcome stronger partnerships. We welcome involving more governments and development banks. We welcome philanthropy, science, and the private sector for an all of society approach. As host of the Pacific Resiliency Facility, the PRF, Tonga remains committed to advancing Pacific-owned approaches to resilience and financing. The Polynesian Ocean Summit that we'll be hosting in May next year will build upon Tonga's broader ocean agenda, including our Blue Ocean Corridor, our Hope Spots, and our whale sanctuaries. Our 30/30 commitment under the Ocean Management Act will develop a national policy that is currently under being under draft. On Sunday, I increased an announcement to the dismay of my staff that 30% is not enough. And I'm pushing the ambition, Tonga will achieve 50% by 2030. Emerging technologies, including AI or SI, as we heard this morning, Earth observations, and the future of quantum applications all have a place to play in ocean governance. In climate forecasting, in ocean observations, in maritime spatial planning, these technologies will inform our weather readiness and enable us to be more adaptable to the climate changing. Small island developing states should not be passive recipients of technological change, but early participants, early test beds for technological changes that are coming, and for us to enable governing and access of applied advanced resilience, enabling our ocean stewardship. In closing, Chair, small island developing states should not be viewed only through the lens of vulnerability. Our smallness enables us to test the integrated solutions, to connect the science with traditional knowledge, and to demonstrate what is possible in our nimble environment. Through the Polynesian Ocean Summit and through the BBNJ implementation, Tonga hopes that broader ocean governance will be realized. and that we will see no longer the fragmented commitments in our integrated actions. The greatest challenge is fragmentation. The great opportunity is integration. Through the Polynesian Ocean Summit, Tonga seeks to bring together ocean sovereignty, sustainability, and prosperity. We want to demonstrate how small island states or large ocean states can help deliver global solutions, and we seek your support and your cooperation. Thank you very much, Chair.

I thank the Prime Minister of the Kingdom of Tonga, and I thank him for bringing up whales, because at the beginning of our lives, we were in the valley of despair. The whales were just almost extinct. Look what it is today, the resurgence. So there's the hope, there's what we can do. This is what the ocean can bounce back to vitality if we give it the chance. And with that, the panels have got your challenge ahead of you from the heads of government. Thank you so much for that. And I'm going to hand over now to the moderator with one caution, which is that we're way behind time. So whatever, I think you were all given four minutes. Please cut yourselves to two minutes out of respect to those who are coming at the end of the panels. So just cut down whatever your notes are to half of what they were, please. Thank you very much. But solutions?

Thank you very much, Peter and Ambassador Thompson. I thought he would only give me impossible challenges, but he's given all of you also impossible challenges in terms of cutting your time by half. I'm sure you're familiar with many of the climate summits that the United Nations have hosted since the time of Secretary General Ban Ki-moon. At this particular time, we have, as with the previous summits, several preparatory meetings and there are seven solutions dialogue for this particular summit and ocean solutions dialogue for the first time made it to the agenda and that is a significant development I think we should take some pride in the work that all of us have done and also I want to acknowledge Madame Varank and the fact is the CEO of COP31 Again, this is the first time we have had a COP presidency devoting the time and attention given to ocean through both Istanbul and Trabzon meetings. Thank you very much, Madam. Time is short, so originally I planned to ask each panelist a question, but I'm now going to compress that into one question and then invite the panelists one after the other. What I'd like to do is, as Ambassador Thompson had said, keep the remarks short, but see if that could engage each other a little bit more in the nature of a dialogue. But more importantly, that the what you say contributes to solutions that we could take up with the climate summit taking place tomorrow. Our speakers have the opening speakers have all laid out the challenge in front of us very, very well. And Prime Minister Teo talked about the fragmentation of the ocean governance and the Prime Minister Tonga talked about what we need to do in the nature of that. So just to recap for the benefit of the dialogue that we're going to have is that the ocean does not recognize national jurisdictions, not the institutional boundaries that we have created for ourselves among climate, biodiversity, fisheries, seabed, pollution, and areas beyond national jurisdiction. Our institutions and actions must become better connected, and this is the challenge for the first session that we have, and we have an extraordinarily distinguished lineup of speakers. And let me begin with His Excellency Stephen Victor, Minister of Agriculture, Fisheries, and Environment of Palau, and the host of the Palau Pacific Islands Forum.

Thank you, Rama, and good morning, Excellencies, honorable ministers, ladies and gentlemen. In keeping with the Ambassador Thompson request to limit to two minutes, I've condensed what I have to speak about how we see the potential to increase coordination on UN oceans. So on paper, we have the UN ocean systems that is meant to strengthen and coordinate the coherence across and keeping data moving. However, They do not have dedicated staff nor a budget. And the second is how do we use the convening power of the UN Secretary General? And we have seen what has happened with that convening power on loss and damage. The same is available to us to use. So there is a need to convene the heads of the relevant secretariat and their state parties on an annual basis to respond directly to the aspirations of UNCLOS and to address the problems of ocean space in an integrated way. But it cannot remain just an annual exchange. It needs to be delivered in a coherent manner. And there, as state parties, we have many opportunities to give life to this aspiration. As has been said, the BBNJ Agreement carries coherence, cooperation and coordinate in its very objective. So remains to be seen what COP 1 can actually deliver. I think going into COP 1, we still have a lot of undecided efforts that we need to focus on in terms of how do we ensure that BBNJ does not become one of existing treaty arrangements that are not well-coordinated. But as SIDS, we have not let this hamper us from ensuring that what we value turns into actions as small island developing states that have big ocean around us. And Fiji may be alluding to its NDC and NBSF that have integrated together. Seychelles has made blue carbon commitments under its climate plans. And for Palau, we have integrated our blue NDC in our blue NDC challenge. So there are a lot that as small island developing states that we are doing, and we need a UN system that is coherent that will support the implementation. That is the only way that we can ensure that we can coordinate from commitment to action that will deliver for people and the ocean. Thank you.

Thank you very much for that. And our next speaker is Minister of International Partnerships from France. Madame, I listened to you very carefully in Palau, and given what Minister Victor had to say, would welcome your views on the subject.

Thank you very much. I will be very brief, Ambassador Thompson, dear special envoy, ladies and gentlemen, excellencies. And in the interest of time, I will also speak in English. I usually speak in French. but I think this will make it more lively. I want to take up on what you said. There is hope when you look at the ocean, and there's only one ocean. So if you're thinking about multilateralism, if you're thinking about what makes us one, what makes our humanity, I think there's no better example than ocean. And it is also one where we've had concrete results in the past few months, and we need to look at those results. and to find ways to give hope to people that are looking at the multiple crises and all the challenges that we're facing. So it's always extremely important for me to speak about ocean and ocean governance. and how we can build upon what has been done over the past two years, notably with the help of France. And I want to commend the work that was done by our ambassador, Olivier Poivre d'Arvor, and Ashok, who's here, because it's a teamwork, of course, and it's a teamwork with all the countries that have joined the different coalitions that have been put in place. One of them that is extremely important for France is, of course, the ban on deep sea mining or the precautionary pause, depending on how you look at it. But it's always at science to base the solutions and to base our collective actions. And this is one that I hope more countries will join because it is an extremely important step to take together. The other one, of course, was the ratification of BBNJ. And when we were sitting in this very room two years ago, I would not have bet on such a fast ratification. And of course, this is not enough. And we now need to work towards the governance at the COP. And we still work in silos when you-- I'm from the Caribbean, and when you look at the Caribbean, we're still very focused and obsessed with the sargassum, and rightly so. I mean, it's a vital issue for us right now. And when you look at the poles, of course, there are other Arctic and Antarctic issues that are totally different. But ultimately, as I said, it is just one ocean and just one matter. So I am confident that we will find ways for this governance to take place. I'm not going to enter into the details of what we did in Nice and what we're looking forward, because this, of course, will be discussed other panelists and I think if I have one message is we need to do the same thing about plastic pollution. We cannot let this issue aside just because it's a tough one and you will always find France advocating for a stronger and more ambitious dialogue. I think we haven't been ambitious enough and we have to rejoice when we do manage to get things done but we also have to have the honesty to look at where we have failed so far and I think plastic pollution is one where we need to be stronger and more ambitious, and again, you'll find friends on your side for this. And because I promised I was going to be short, another one is maritime transportation. And there has been a lot that has been said about this and consensus found But we need to move this discussions into action. So I will leave it there and be more than happy to take over again if you allow me, but I'll stop there in the interest of time. Thank you very much.

Thank you very much, Madam Minister. I think the point that you made is leadership. makes a difference. And I think that the French leadership and I recognize particularly the two gentlemen sitting at the opposite side and the amount of work that they had done in making sure that the ratification is coming online. And I think we are looking to the similar kind of leadership from the SIDS as well. And our next speaker is from the minister from Jamaica, Minister Samuda. I've listened to you yesterday morning very eloquently on governance aspects of it, and given what your two predecessors had said, would welcome your views on the subject.

Thank you, sir moderator, Ambassador Thompson, Excellencies, colleagues. The ocean is one connected system. Our governance should reflect that reality. Over the past 50 years, we have developed an extensive international architecture for its governance. UNCLOS, BBNJ agreement, we have the UNFCCC, we have the Convention on Biological Diversity, the IMO, Regional Fisheries Management Organizations, and of course, the International Seabed Authority, and several other processes. Jamaica has a particular connection to this architecture. We know that Kingston is the home of the International Seabed Authority. Jamaica has also ratified the BBNJ Agreement, which entered into force earlier this year. Each of these institutions and agreements indeed have an important mandate, but from the perspective of Jamaica, and I believe many other SIDS, the difficulty often arises from the point of implementation. Our communities do not experience climate change separately from biodiversity loss. officials do not experience ocean warming separately from changes in marine ecosystems and fish stocks. And our governments cannot effectively address coastal resilience separately from food security, tourism, infrastructure, and economic development. Yet the international system often asks us to respond to these interconnected issues through separate processes, separate reporting requirements, and separate financing mechanisms. This is one of the disconnects I believe we must address. Jamaica therefore posits that the answer is not necessarily another institution, but rather stronger coordination among the institutions we already have. And this is where we believe the UN system can continue to add greater value. Firstly, we need greater coherence at the level of national implementation. In Jamaica, we use National Coastal and Oceans, National Council on Oceans and Coastal Zone Management, where we bring all institutions together. We suggest that this is a route that should be followed by other nations. Secondly, we should reduce the administrative burden on SIDS and harmonize the process of reporting across the varying processes. Thirdly, and this is an issue that affects all SIDS and indeed developing nations, need greater coherence in finance. A mangrove restoration program, for example, can deliver climate adaptation, biodiversity protection, and coastal resilience, but our financing architecture must become better at recognizing and financing these multiple benefits. Finally, the SG can use its convening authority to bring these systems together in ways that individual treaties and institutions cannot readily do on their own. As such, Jamaica would therefore support stronger practical coordination across the UN system, focused on implementation rather than creating another bureaucracy and negotiating process. And to be fair, we do see that in work package 27, that there is some coherence coming, but we support stronger and urgent action. We also invite all of you here after Canada to join us in 2029 at the Our Oceans Conference. I believe if we were designing international ocean architecture afresh, it would start with the ocean rather than the institutions. We would recognize from the outset that climate, biodiversity, fisheries, development, and human security are indeed interconnected. It is the reality in which we live. Thank you.

Our next speaker is the National Secretary for Climate Change at the Ministry of Environment from Brazil, Mr. Aloysio Melo. And you, sir, during COP30 and before, introduced ocean into the agenda, and we have made enormous amount of progress since then. You have the floor now to continue with our previous speakers on where it is and what we should do next.

Thank you, moderator. I will do my best for the two minutes.

I will try.

And thank you, Chair, for organizing this dialogue. Good morning, Prime Ministers, Excellencies. More than ever, Coherence and governance is essential for effective implementation, but also for the best use of the limited resources and time we have to respond to the climate emergency. In our perspective, we already have a very rich international architecture for the ocean. The challenge is that architecture was built piece by piece. and we still don't have systematic connections between the processes and the institutions. And when we look at this nexus between climate, ocean, and biodiversity, that is very evident that was approached here. So another thing is that one of the most, let's say, consequential gaps we have is about the connection between the international commitments and the national and local implementation, as Mr. from Jamaica mentioned. So advancing the synergies in the case of the UNFCCC requires for our perspective to have a dedicated space for that topic. And for that, we have in the sub agenda item on cooperation with international organizations. Maybe that's the space for that, but that should be maintained across all substance sessions, not only in the mid-year sessions. That would provide more regular space to strengthen cooperation with the international processes and organizations. And also, it's important to make use or the best use of the opportunities we have this year, where we have the three Rio conventions convening. We have this triple COP year. So this is a pivotal moment to advance the synergies between the agendas, including the ocean. One possible way to strengthen the synergies is to welcome the CBD COP 17 decision on enhanced cooperation across the Rio Convention. and its multi-level work plan, the CBD Joint Liaison Group process, ensure that it integrates key ocean themes and that fisheries, addressed here by the Prime Minister from Tonga, reflecting that fisheries agenda in the emerging food systems initiative. This is the most visible way that presidencies can address that connection. And besides that, the UN system can add significant value by bringing different communities together around some common implementation priorities. The UN Secretary General could also help identify a limited number of cross-cutting priorities where different institutions and stakeholders could work together. And this is for us the very spirit of the multi-round approach we had in COP30. how we can organize our capabilities, institutions, initiatives that already exist around very concrete opportunities where cooperation can make a difference. And ultimately, we need to move from a collection of commitments to a more coherent implementation ecosystem. Stronger coordination, yes, we need that, but coordination must be very practical. implementation-oriented, inclusive, and built around the architecture that we already have. Thank you.

Our next speaker is from a country that has put the ocean agenda on the United Nations calendar in a manner of speaking with going all the way back to Ambassador Oud Pardo. We have now Ambassador Simone Borg, Ambassador for Climate Action from Malta. You have the floor, Madam.

Thank you very much. Thank you very much. It's a great honor and pleasure to be here. And I wish to salute everybody, especially distinguished heads of government, ambassador, and distinguished colleagues. I will be brief. I will try and list about seven solutions which I think could work. First of all, I think it's understanding the context where we work with, in the sense that we will work within the international legal framework that is We do not have a centralized lawmaking body. It's made by states, implemented by states at the national level. So there is that discretion and also the lack of compulsory jurisdiction. And I think understanding that these are the sort of the shortcomings of the system will help us to find the solutions in a better manner. And I definitely want to link this with what my colleague from Brazil has just said about the need, therefore, for the muti-approach, for the involvement of non-state actors to fill in the gaps gaps and to keep the momentum going because this is, after all, a way how the non-state actors participate in improving the legal framework itself. And we have some, also, some good examples, like MARPOL's Annex 6, for example, or the Fish Stocks Agreement that refers to the RFMO rules as the applicable conservation measures. So we have this kind of linkages, even sometimes between treaties. Sorry, I think I'm going a bit fast for translation. Okay, sorry about that. So those are examples we can look at and perhaps follow and try and find better examples. The second solution, I would say, would be literacy, understanding what we, as much as possible, that the message reaches all stakeholders, that the need for a holistic approach to you know, to protect our ocean, empowering stakeholders to endorse this approach, because we all know that the ocean is subject to various interests, conflicting interests. And until we have this kind of literacy that we are, after all, protecting the ocean that gives us all the sustenance and all the resources that we need. If the ocean fails, if it dies out, we will lose everything. So I think this kind of mentality of protecting the ocean from a holistic manner needs to reach the literacy message. Also, literacy in the sense that lawmaking must be linked to science. That is the paradigm shift, I think, that we have had from the past. We have norms that are centuries old, but they were never based on science. And it is only when the science inspired lawmaking that we started having this holistic approach towards protecting the ocean. Another possible solution is what some other speakers have already mentioned, the need to formalize cooperation and coordination, particularly perhaps among executive secretaries of treaties, not necessarily creating another institution, but not leaving it to chance or to one-off examples. And we also need to also show this opportunity that we're working together. I think I was very much impressed yesterday by the presentation made by Turkey for the COP31 when they got all the various intergovernmental organization there, and it really looked like everybody's working for climate. Then you have also the need to address skills gaps because a holistic approach needs to change that mentality. as well as identifying crucial contributors, which are the partners as the port states, the coastal states, the flag states, the role, how they can improve this holistic approach. Last but not least, leaving no one behind. We cannot have two weights, two measures. We cannot have states which are not able to participate in moving ahead, in accessing finance, or in having available technology because they don't produce it themselves. I think that is my last point. Thank you.

Our final speaker in this particular session is Sang Kee Lee. He's Director of the Planning and Coordination Division, preparing for the UNOC 4. This is the United Nations Ocean Conference 4. The last one took place in Nice, France. You have the floor, sir.

Thank you, moderator and excellencies. Let me make short, shorter. Korea may provide one piece of practical evidence. In 1996, Korea brought the ocean under one roof, shipping, ports, maritime safety, fisheries, coastal management, and ocean science in one ministry. The choice is now 30 years old. I'll be honest, even inside government, the ocean still competes hard with diplomacy, security, economy, and industry. We don't always win, but one thing has changed. There is always someone at the table who speak for the ocean. Something also changed outside the government. Voices that had no address began to find one. People working for marine environment, fishing villages, and coastal communities, issues that comes up once in a while are now discussed in standing bodies. This has not been easy. New voices do not organize as quickly as established industries. What helped most was shared knowledge. data that everyone could understand and trust. That took many years and money. So what can the UN system do now? Let me remind, in 2007, the IPCC synthesis report effectively changed the perspective of public and the trajectory of the climate action. evidence first, then coherence. The ocean could begin the same way. One integrated assessment across silos, every institutions can use. The common ground where overarching governance can begin. In 2028, member states will gather in Korea for the fourth UN Ocean Conference, which Korea and Chile will host, we hope to dedicate this conference to connect the whole things. Thank you. Thank you very much.

Our plan was to have a few minutes for Q&A, but we are going to pass that in the interest of making sure that the other panelists have the time to make their presentation. So I'm going to go straight to the next session, which is about delivering across the ocean climate biodiversity nexus. And our very first speaker is Madam Minister Ana Isabel Xavier from Portugal, Secretary of State for Foreign Affairs and International Cooperation. Madam, you have the floor.

Thank you so much, Chair, Excellencies, distinguished panelists, dear colleagues. Let me begin by commending Peter Thomson for convening this timely dialogue. And thank you, Dr. Rama, for the privilege to take part in this panel to speak on behalf of Portugal and the Portuguese people. In fact, Portugal and the Portuguese people have long been strong advocates of the ocean climate biodiversity nexus. This was true in 1998 when we invited the world for Expo 98 to learn about the importance of the ocean. This was true when we were updating our national ocean strategy. This was true when we signed to be founding members of the Ocean Panel. This was true when we co-hosted the UNOC 2 and marked the adoption of the Lisbon Declaration, Our Ocean, Our Future, our responsibility. And this is true today when we witness every day the perils of ignoring this nexus in our climate, in our economy, and among our people. And let me be clear, there can be no effective climate policy without an effective ocean policy. Ocean action and climate agendas must become one single exercise in governance. This means that NDCs must include the ocean, its role as a carbon sink, and as a foundation of life. As we look toward COP31, Portugal holds high expectations that the ocean will finally get the rightful central place in these negotiations, advancing to a more coherent ocean governance. Good expectations come from the momentum generated at the Ocean and Climate Change Dialogue in Bonn and the Blue Dialogue Ocean and Sea Summit in Trondheim. This momentum must now translate into real action. In Portugal, we are acting. We are steadily advancing in ocean accounts for ecosystem services so we can frame and describe our ocean areas by their natural capital. Among others, it will be possible to finally quantify carbon sequestration capacity and to map the flows of blue carbon across our national maritime spaces. In this regard, the marine protected areas we are designating can serve as a testbed for this exercise. With the forthcoming classification of the Dom Carlos Marine Nature Reserve, Portugal will be close to placing 25% of our maritime space under a protection regime. We intend to include the measurement of the benefits this protection delivers, including carbon capture in MPAs management plans and showcase it so we can bring society along. This involves turning data more transparent, and for that, we are improving our national oceanographic database, not upon the dot PT, and also pay close attention to local and traditional knowledge. Coastal communities, namely seats and traditional sea users, hold a unique understanding of the marine environmental and remain allies in policy implementation on the ground and on water. Ladies and gentlemen, As part of our mandate as non-permanent members of the United Nations Security Council, starting in January next year, we will prevent, protect and partner on oceans. Portugal stands ready to work with partners to turn the ocean climate biodiversity nexus into an agenda of implementation through 2030. By then, the question should no longer be if the ocean belongs at the center of climate action as it did in 1998. It should be if we have done enough to translate that understanding into results and those results into positive change. I thank you.

A great message to start off with your membership in the Security Council. Thank you very much, Madam Minister. Our next speaker is Dr. Peter Demenokel. He is the President and Director of the Woods Hole Oceanographic Institution. Peter, you have the floor.

Thank you, Rana. Excellencies, distinguished delegates, colleagues, ladies and gentlemen, thank you for the opportunity to join this important dialogue. We live on an ocean planet and we should see the ocean for what it is, this one big interconnected system, as the Prime Minister from Tonga has reminded us of. And I submit for you today that our knowledge of it should be organized this way as well. This is why ocean observing is so important, and this is really the central theme of my intervention today. As all of us know, you cannot manage what you do not measure. Observation enables prediction, prediction enables policy, policy mobilizes finance, and implementation itself must be measured again. One of the greatest examples of this, indeed one of the greatest examples of international collaboration, is something called the Argo program. About a little over 4,000 robots are in the ocean today measuring temperature and salinity and parameters of ocean health. These give us really an unprecedented view of the physical state of the upper ocean. Indeed, there are other initiatives that are being launched internationally, such as Ocean Eye and Mission Neptune, representing opportunities to enhance further still our ocean observing capability. That means observing ecosystem health at the surface, not just simply counting fish landings after the fact. We need to know where species are moving, where food webs are changing, where the whales are going, where oxygen is declining, and how a warming and acidifying ocean is affecting ocean health itself. It means observing the ocean twilight zone, this vast region of the upper kilometer in the ocean, where biomass is 100 times greater than all the surface fisheries combined. This ecosystem plays a fundamental role in the ocean carbon cycle and is key to climate regulation. And it also means observing the seabed where we're making decisions about deep sea resources and ecosystems that we have barely seen, let alone monitored through time. So the challenge is not just scientific, it's institutional and financial. On average, much less than 1% of national research budgets focus on ocean science. Yet governments are increasingly making ocean related commitments through their climate plans, biodiversity frameworks, fisheries agreements, and the BBNJ process. These commitments can't be implemented or held accountable without a sustained and sustainable ocean observing system. So let me just end with a question to keep my remarks short. What is the one thing that government should do differently by 2030 as we seek to understand this ocean climate biodiversity nexus? And my answer would be this. They should, we should fund and govern ocean observing as a permanent international public good. Because if this room represented the global ocean, the size of this room, if this was the Global ocean, the part of the ocean that we've actually observed, that we've actually been to, is the equivalent of this postage stamp. So we're looking at this most important resource of our ocean planet through the smallest of keyholes. And the first act of ocean leadership, I believe, is to open our eyes. Thank you.

Thank you very much, Peter, for that. And next speaker is Tiago Pita da Cunha, Chief Executive Officer of the Oceana Azul Foundation.

I'd like to be brief as well, and speaking about a new understanding of the ocean as the solution for where we are. Of course, we are speaking about climate, ocean, and biodiversity, which means that we are speaking about the atmosphere, where climate lies mostly, the biosphere, where the biodiversity belongs, and the hydrosphere, where the ocean is 99% of it. In Rio, it was very clear that we dealt with the atmosphere and the biosphere, but we have not dealt with the hydrosphere. The ocean was not in Rio in '92. But why did this happen? I think that the way we see the ocean was very important here. We don't see the ocean as the life support system of the planet, even the ultimate life support system of the planet, given the importance of the ocean for biosphere, for hydrosphere, and for the cryosphere. But because we probably still see the ocean with the lenses of the common paradigm of the ocean as a pool of natural resources. So that's why, of course, we have justified economic exclusive zones. And that's why we also justify territorial waters. Why? Because we also see the ocean as a space, a geographical space mostly, to a point that we don't recognize one ocean, but we declare five oceans. And that's how we teach children. So we still are in the plural, Ambassador Peter Thomson, in what relates to the ocean. We have the sound bite of one ocean, but we haven't actually interiorize the difference that the understanding of the ocean can make a difference. So in a way we know now that we need, in order to save the planet, we need to save the climate. And in order to save the climate, we need to save the ocean. But how will we save the ocean, really? Well, to start with, probably this new understanding of the ocean, not as that pool of natural resources only, not as that geographical space only, but as the complex system that took billions of years to be formed and that consists of the natural and ultimate infrastructure of our planet will change very much the way we could project things, starting with governance there. Maybe this will allow us to rethink the way we look into the mandates of UNEP CCC, the mandates of CBD, where the ocean really has no room to stay. Maybe we probably need also to consider that in order to save the planet, you need to decarbonize, but we also need to re-neutralize the planet. And that's where maybe 30x30 needs more to develop and implement its framework than what we have now in the current system of governance. So I'd say that With a new paradigm of ocean understanding, we will probably have a new paradigm for ocean governance, where the planetary dimension that comes from Rio and that's kept to the ocean can be introduced into the equation. So we have today a paradigm for climate, planet sustainability, one for biodiversity, planet sustainability, but we still do not have the framework for ocean, planet sustainability. And here I would say that 2030 is probably too soon, But that's 2040, it will probably be too late. Thank you.

Moving right along to the third panel of our dialogue, this panel is to deal with finance, technology, and private sector solutions. And the hope, of course, is moving beyond individual projects and attract capital, technology, and business engagement. at the scale required. And our hope is that the panelists would focus on the enabling environment, investable pipelines, risk sharing, innovation data, and the role of companies as partners in delivery. But to start off the dialogue, we have a Minister of Environment from Fiji, Madam Linda Tabua. You have the floor, Madam.

Thank you. Well, I'm not an expert or a scientist. Yes, I am a politician. So perhaps I want to start off by challenging the politicians in this room that our leadership is critical. And I'm grateful to hear from the honorable prime ministers of Tuvalu and Tonga. Also to really start off by asking, do we have our national oceans policies? Are they implemented in our countries, one, and if so, are we harmonizing them across the several ministries? And I just speak from personal experience, we're having to even try to pass a cabinet paper on marine spatial planning. It was knocked back three or four times because we had the fisheries ministry, the transport ministry, the energy ministry, the fisheries, I did mention as well, yes. So just basically saying, no, this is coming across my territory. So even the silos exist within cabinet and within our ministries, let alone what we're talking about on a global stage. But then going on to the UN system, yes, what would the UN system take to unify these disparate treaty frameworks? And we've heard about this. where there is certainly a lack of a system for the ocean. So I just wanted to put an idea on the table. We have now ratified the BBNJ, which is looking at biodiversity of areas beyond national jurisdiction. And of course, Thiago, my friend, has talked about there is a missing link of an ocean planet sustainability framework. Then have we ever considered a treaty to protect the oceans within our jurisdiction, a COP for oceans within our jurisdiction, a treaty separate, and especially for us as large ocean states and small island states, we need this more than ever. Maybe it's something we need to build up to, to look at a treaty to protect our oceans within our jurisdictions. We have a start on Thursday of the UN Declaration on Sea Level Rise, perhaps that's the entry point, maybe we can move towards that. If we want to move to something even before 2030, it's doable. That's my challenge to leave on the table. Thank you.

Thank you very much, madam. That certainly adds a new twist to how we discuss these issues in the United Nations, but something really worth thinking about. Our next speaker is the Director General of Food and Agriculture Organization of the United Nations, Mr. Koo Dong-kyu. You have the floor, sir.

Thank you, Moderator. Dear Chair, I'm so delighted to come here to join you to discuss this important issue. Well, here is everything is broken. The ocean and the climate cannot be treated as separate system. Yeah, that's always we should look at the holistic way, comprehensive way, impact rising ocean temperature, all these factors is you knew, but we need a solution. Solution is not a single solution. We need a pack of solution because the nature is complex, not divided by ministers, environment, minister of fishery, minister of They have their--they are connected. So I'm a biologist, so I knew they have the complex from the ancient times 10 million years ago, and they are still keep very complex, even they have evolution. This year, the El Nino, strong El Nino event, it's just added the further pressure. It's some kind of the explosive phenomenon, but it will be even worse in the future. You saw this is the worst? No, I don't think so. And climate action has ocean food security should be part of the same solution. So if you only separate because there are so many small island, 54, 55, you said that. But the people from the ground, they need food security, including fisheries from natural catching or aquaculture. And also, you need other healthy food, vegetables, food, and also some others, like your countries, you also need the taro, not the others, cassava in Africa. So it's a different staple food also. We have a solution. Now we must scale up this. How to scale, not the scientists or UN bodies. We need the politician from government at the different levels take the ownership and partnership. UN system, we are not there. We only offer the pilot and best practice to show, to demonstrate. But the scale, of course, first is the disease already science is there. And first, I think the biodiversity from the sea It's very powerful. We can sequence all the genotypes with a few minutes, one species. I did it myself during the past 30 years. So 30 years, it was very difficult and costly. But now it's easy to protect your biodiversity by DNA profile. So that is powerful. Government need an early warning, entire practical advisory, and risk maps that the tree can attack the supported before loss into the food insecurity. Fish folks need the technology that improve the production, protect catches. Second, COP 31 must embed the agroforestry solution, including sustainable fishery and aquaculture, firmly in its negotiation track. So because COP is powerful, it's a gala show. Unfortunately, as you said, you don't have the similar COP for ocean, yes? So lastly, I think so we need FAO, we offer the technical support. We are the earliest the UN special agency look at the fish and aquaculture, land and water. So we are ready to support the members, especially for small island and SEEDS, LEDC, LEDCs, because I'm the only one established a special office for SEEDS since I come seven years ago. So now we are access all the members and also with a lot of group or sub semantic subject support from the GCF and GF. I think I asked my fellows from GCF, GF, they said they are poor, but they have enough money to support us. Thank you.

Thank you very much, Director General, for those remarks. And now we move on to the three panelists who would be speaking directly to the finance question. Let me start with the same question with all three of them. And let me start with Tony Warby. He's the Ocean Panel Sherpa from Australia. And Tony, and then the next speaker is Karen Sack, executive head of CEO of the Ocean Risk and Resilience Action Alliance. And the last speaker is Alfredo Jiron, head of Ocean of the World Economic Forum. And the question is basically the same for all three of you. There is no shortage of interest on ocean finance, but private capital is still not flowing at anything like the scale required. What needs to change to turn promising ocean projects into investable markets and pipelines? Tony, you have the first to go.

Thank you, Rama, distinguished guests, ladies and gentlemen, excellencies. We have a huge amount to celebrate in the ocean finance space, I think. The first was alluded to by Peter Thompson, Ambassador Thompson, at the beginning of the proceedings, which is 10 years ago, none of us were talking about ocean finance, except perhaps maybe a few people. And over that 10-year period, everyone's now talking about ocean finance, but quite often in a way that I think is not yet nuanced. in the way of a sophisticated discussion. And that's not surprising given the evolution of the discussion. There's no shortage of capital. We hear that a lot. And there's no shortage of implementable and investable projects. We also hear that a lot. And there's no shortage of goodwill. We hear that a lot. So what's the problem when it comes to unlocking blue finance for the projects that we need? I think part of the challenge is If we're going to make the ocean investable at a scale and at a risk and in a way that gives a return on capital, then it's less important that we persuade investors of the importance of the ocean and more important that we present investable ideas to them that meet their needs for a return. And that may be, you know, that's a nuanced argument, I think. Of course, we would love all of our investors to deeply care about the ocean and to understand the ocean and why it's important, but we have to accept as ocean people and ocean enthusiasts that all capital requires a return. If it's philanthropic capital, it's looking for an impact return. If it's Financial capital in the markets, it's going to be looking for a full commercial return. And then there's a whole lot of space in the middle where perhaps some commercial gains would be given up for other impacts. I think what I feel is that there's some missing architecture between understanding that every investable project has a different timeline for delivery and a different risk appetite attached to it. At the same time, there's lots of different pools of capital with different expectations of the timeline on which they would like a return and different expectations and appetite for risk. So what I think we need is an investment in the architecture that brings all of that together. And that's a discussion, as I said, there's a huge amount of goodwill across all of the parties. I think there's a capacity building component to this. There's an education component to this. And if I can reference an earlier comment, it's not just across sectors, it's also across departments in government, because that communication is so important within and between governments, within and between sectors, within and between all of the research community, the NGO community, and others. So in the interest of time, I will pause there. With your indulgence, Raman, if I may, I'd like to ask Kushla Munro just to make a few comments as the COP31 presidency. Oh, OK, understood. I withdraw. Thank you.

Thank you.

Thank you so much, Roma. It's a pleasure to be here. In fact, so I am the executive director of the Ocean Risk and Resilience Action Alliance, which is an alliance of 150 banks, financial institutions, insurers, governments, civil society organizations, and multilaterals. And today is our seventh birthday because we were launched at the Climate Action Summit in 2019. And at that time, there were literally four blue finance products on the market. And as Tony has just said, how things have changed. Mia Mottley, the Prime Minister of Barbados, has a wonderful quote about finance. It is the oxygen, not the destination. And I think that is key for all of us to remember as we think about the role of finance in delivering on the goals that we want to see. Initially, there was a total gap in the market. of ocean finance. But today what we're seeing is that there is a market in the gap with research indicating that there's about $550 billion per annum of potential investment into regenerative and sustainable blue economy sectors every year between now and 2030. And that includes everything from those market seeking return sectors, like offshore wind, port infrastructure, and shipping to those that are maybe not going to get those returns in terms of ocean conservation, sustainable fisheries. So we've got to think about how do we bundle some of those things together and how do we take that systemic intervention to work across the capital stack to make a difference. So again, in the interest of time, I'd like to suggest we take four steps as a community. First, and particularly as we head into COP31. We must capitalize the existing instruments that have been designed from guarantees to insurance instruments, impact funds for small island developing states. These things are shovel ready for investments. And if the public sector and the philanthropic sector goes there, that is the signal the private sector needs to see to have the confidence to invest more into the ocean space. Secondly, we need to move beyond our ocean bubble and look to convene finance ministers and the heads of the multilateral development banks around the table so that we can draw from the hopefully outcomes this week of the Committee on Finance that has taken place in Australia and begin to integrate ocean finance into climate finance. Thirdly, we need to take the high integrity investment principles that both prime ministers spoke to at the beginning of the session and incorporate them into the way that financing is done. We've got to address debt and credit ratings, the small sizes of tickets, and think about how we can move those things together. And finally, in the systemic approach, we need a blue climate finance pathway that leads us from here all the way to UNOC4 in Korea and has these wonderful check-in moments along the path in Canada, in Tonga, anywhere along the way that we can check in and see that finance is being activated and deployed from the concessional to the private capital we need. I'll just finish off with a segue, hopefully, to Alfredo, which is the signals from the private sector in this space are very clear. They are highly interested, but they need deals that fit the transaction sizes that they are looking for, and they are keen to move forward in this space. if they can see that the public sector is getting behind it and helping to move the space forward. Thank you very much.

Thank you, Karen. Alfredo, you're next up. Thank you.

Thank you so much, and thanks, Karen. It's both good to go after you and difficult to go after you. So, excellencies, colleagues, thank you so much for the invitation, and thank you so much for being here. As we think about scaling solutions, unlocking investment, and integrating ocean health into relevant decisions across climate, security, health, food, energy, it is important to think about the role of the private sector that operates in the ocean. So I think we have heard quite a bit already about the investors, the financial institutions, the insurance companies, but I also urge us to think directly about those that have infrastructure, that have ships, that have operations touching the ocean. And I think the importance of this is not only to unlock their investments, that's really important, but I think it's even more important to unlock their creativity in how do we address some of these problems. Because if someone knows how to solve problems, it is the private sector. And so as I have been going around this week that felt like seven days already and it has been only one and a half, I have already started getting a few insights on how the conversation has shifted just in the last 12 months. The first one is a clear recognition that some of the conflicts that are affecting waterways and that are affecting some of the maritime industries, of course, they come with a lot of downsides, but there have been met also with the creation of some opportunities. That includes, for example, some of the acceleration of electrification as the prices of fuel go up and as people think about the resilience of their supply chains. That comes also with an acceleration of renewable energy as people think about energy security and the disconnection from the grid that sometimes needs to happen and that renewable energy can meet the demand on. And so on and so forth, examples of opportunity within this crisis that unfortunately that has been the trigger, but that again, that creativity to build resilient businesses has actually advanced in many ways some of the agendas that we have been trying to advance just in the last 12 months. The second thing that I want to highlight as progress is that, you know, last year I heard a lot of disillusion actually on how the private sector was not only on the ocean, but in nature as a whole. And this year I hear a lot more hope. And the reason for that is that last year everything was about artificial intelligence. And it was really about how people are cost saving, how people are creating the next big model. This year, I just came from a conversation with our community of 60 plus chief sustainability officers at the World Economic Forum. And the first thing that they said was, last year, I was competing for internal allocation of capital against AI. This year, I am being used to use that capital to implement AI solutions that save us costs from a sustainability perspective. And I think there's something really profound in that. And that's something that governments should be aware of. It's the incentives that are going to take us to that exploitation of that opportunity on something that used to be as competition and now is being seen as part of the solution. And to keep it short, I had a couple of things that I wanted to say, but to keep it short, I think that we still have a lot of questions to address. We talk a lot about the cost of inaction, the return on action of these kinds of things. But I think we still need some of the deep thinking and the deep numbers. And so in the spirit of an ocean solutions dialogue, I think that the next thing that we need to do is to really partner between governments and the private sector to answer at least some of these questions. How do we better integrate nature into a strengthening project economics? And we need the real expertise for that. How do we demonstrate that healthy ecosystems protect the asset base of businesses that depend on it? How do we manage ocean exposure in a way that improves access to capital? How do we integrate considerations of community engagement to demonstrate that this has a direct return on license to operate? And how do we help with early engagement in policy processes that eventually will result in better incentives for taking action on nature and specific in the ocean. Thank you.

Thank you very much, Alfredo. That brings us close to the formal set of presentations, but as we see the presidency of negotiations, Australia is represented as well through Ms. Kushla Munro, and as we began with the COP31 presidency, it is only proper that we end the formal side of the presentations with the COP31 presidency of negotiations. Madame Munro, you have the floor.

Thank you. I appreciate the opportunity to come in. I'm from the climate tribe, and so as part of this role we have as president of the negotiations, but more importantly, partnership with Tokia and absolutely most important has been the partnership with the Pacific. I've learned a lot about what this would mean to have ocean and climate together. And so the blue thread that you referred to, Ambassador, at the beginning, I can see that starting to weave together, particularly, I think, through the Pacific Islands Forum and the Declaration on Oceans and all of the work that the Pacific has been doing and the strength of those voices here, just so loud and clear. Just a few things I just wanted to spell out to people, but we see four main areas, and this has come through all of the discussions with parties and non-parties through the year. But again, the, you know, Turkey absolutely should be praised. They put oceans as one of the central parts of the action agenda this year. It built on what Brazil had already been doing, but I do think this is incredibly significant. The other part is the blue NDCs and the NAPS, and again, we see a greater uptake of that. this goes to the third point, which is always comes back to the resourcing and the financing. And it is great. Like this week, we have had the standing committee on finance being held in Sydney, looking at financing for oceans. And we know that this is just unfinished business about how is this actually embedded within the UNFCCC, not to create more noise or complexity, but I think this actually goes to the last point. And we have the Pacific envoy for oceans, the honorable Inia Saratu with us today. And during Fiji's-- yeah, Inia, yeah. But such a good advocate for the oceans. But it is unfinished business from Fiji's COP presidency in terms of what might actually be part of the negotiated outcomes. So we hold that near and dear, and Inyar is always a great reminder of that unfinished business. So we'd like to see if we could take that over the line this year. So Again, it is great to be here to hear and understand these discussions. And what I took away is we have to save the climate, we have to save the ocean, we save the whales, we save the krill, and then we save ourselves. So thank you.

All right.

Well, Thompson always gives the impossible tasks. He says, well, we have time for Q&A, but nobody should speak for more than 15 seconds. Using my moderator's privilege, I'm going to extend that to 30 seconds. So if any of you would like to make a comment or ask a question or have a solution, please raise your hand and we will have the opportunity. Meena. Meena Wadhwa, the director of the Scripps Institution of Oceanography. I'm going to, sorry, just one, I'm going to identify the speakers so they're prepared. The next is Tom Pickering from World Resources Institute and the Ocean Panel Secretariat and UNFCCC, and finally to INIA. So the four people for the interventions.

Okay, well, thank you so much, Rama. Excellencies, distinguished guests, this dialogue really does mark a historic milestone for bringing together world leaders and ocean professionals who offer solutions to address climate change, protect marine ecosystems, and advance ocean finance and blue economy. I have the honor to lead the Scripps Institution of Oceanography at the University of California in San Diego, and I really feel that in our currently politically fractured world, the ocean really possesses the unique power to unite nations and communities. Ocean science is rooted in objective and empirical data, and I think objectivity really is the way to consensus here. So today I'm going to share just very two brief examples of how ocean science has shaped the global agenda.

Will you try

I will absolutely shorten it. I just wanted to make the point, I think my colleague Peter DiMenocal already very eloquently expressed the importance of observations. He stated that we cannot manage what we can't measure. And I would really say that we cannot steward what we do not witness. And the ocean observation systems really are a key way by which we really are making that we bear witness to what's happening to our natural world. And so I will just say that it's incredibly important for us to invest in the future of our oceans, invest in ocean observations.

To make it the public good. And so that's the message from. Next up, Tom.

Thank you.

I think just to summarize what I've heard, I mean, over the last decade, we've built the ambition.

I don't think that's questioned by anyone.

And over the next decade, we've got to build the systems that deliver that. We believe, we being the World Resources.

Institute and the High-Level Panel for a Sustainable Ocean Economy, is that sustainable ocean plans.

The practical solution.

They can integrate climate, biodiversity, and development objectives within a single framework.

And so far, countries representing around 46% of the world's national ocean areas have already committed to developing them. So the next challenge is implementation and extending that ambition to all coastal and island states.

These need to be supported.

By ocean intelligence, which has been raised many times, as well as backed by the investment systems that can turn the commitments into outcomes at scale.

Thank you. Cecilia from UNFCCC. Thank you. Thank you very much.

I just want to add my voice and just articulate three issues that I would like to underline here. I think we are moving on to our fifth or sixth ocean dialogue within the UNFCC process. And I think what's increasingly becoming clear is that the ocean is a frontline of impact. It's a foundation for human security, and it's one of the most, most powerful solutions. And I think I'd like to underline that. Just three things. and just looking forward to COP31, the leadership and political leadership we are getting from Turkey and the President of Negotiations from Australia, we do have an opportunity. And here we are emphasizing that it is true, we just come from Trabzon where we emphasize the point that the ocean connects every nation. And at COP31, what we'd like to see more clearly coming is how we can connect ambition to implementation, the global climate action agenda offers us that opportunity and how we can finance with impact. I think there were two speakers eloquently underlined that, but more importantly also how the multilateral commitments can offer an opportunity for us to show some measurable action, as Peter said earlier. Thank you.

Thank you very much, Cecilia. And Honorable Enia, you have the floor.

Thank you, Rama. I was not prepared for this, but let me say that we've come a long way since the World Oceans Conference here in 2017. We all know what the problem is, but again, the question is, as the honorable Prime Minister of Tonga, Lord Fofono has stated, the problem is fragmentation, and we need more integration. I am well aware of the UNFCCC processes as a former global climate champion, And I think we need more dialogue, we need more Tylenol, because the process itself, we have parties on one side and we have non-parties, particularly the finance, on the other end. How do we bring the two together? Because we need money to finance all the implementation. And my next question that I've been asking, because we started socializing these way back, when will oceans become an agenda item rather than a dialogue item in the UNFCCC processes. Because there's a big difference between a dialogue item and an agenda item. Thank you.

Thank you very much. I prepared some summary remarks. I'm going to read them very quickly, and then I'll hand it over to Ambassador Thompson to close the meeting. It's been just a remarkable two hours that we spent. We covered a great deal in a very short time. And so the main conclusions, if I could summarize them, they would probably be five. And I'll try to be very brief in saying that. And in fact, many of the conclusions, Prime Minister Teo, are drawn from your remarks. And so the first, of course, is that we cannot treat ocean any longer as a collection of separate issues. And the point that has been made by several of you here is treating that as an infrastructure issue, and then we'll come to that just in a bit. The climate change, biodiversity loss, fisheries, pollution, deep seabed, and the high seas, they're all governed through different institutions, agreements, but they operate within one connected ocean system. We heard from speaker after speaker Fragmentation is not merely an institutional inconvenience. It produces gaps, duplication, competing demands, and ultimately slower implementation. The message from this dialogue is therefore not that we need another institution. It is that existing institutions must work together, and I take that as the message from the Prime Minister of Tonga. that the United Nations system has a responsibility in conducting these processes, reduce unnecessary burdens, and translate political commitments into coordinated support. Second, the point that has been made very powerfully here is that the science must be treated as essential infrastructure for action, both Peter the Minocal and Mina Vardva talked about how we cannot manage what we do not observe, understand, and measure. Sustained ocean observation, open and usable data, scientific cooperation, and indigenous and local knowledge all contribute to our appreciation of what we need to do and are, in fact, the foundation for effective decision early warning, adaptation, conservation, and investment. Third, we must connect ambition with means of implementation. And the point that Inia has made, as well as several others, the constraint is not simply a shortage of capital. Too often, promising ocean solutions remain too small, too fragmented, are insufficiently prepared, and we must fix that. And the point that Alfredo in particular has made about the private sector, that it must be more than a source of finance. They contribute innovation, technology, data, supply chains, and delivery capacity, and we must engage how they serve public priorities, environmental integrity, et cetera. The last point I want to do is to really talk about how the dialogue and what must point forward. It takes place at an important moment, following the Pacific Islands Forum and the Trabzon Ministerial High-Level Meeting, and ahead of the pre-COP meetings in COP31 in Antalya. The task now is to carry these discussions into a coherent and durable ocean outcome at COP31, one that connects the negotiated processes, the action agenda, and complementary presidency-led initiatives. Antalya should not simply restate that ocean matters. It should show what governments and institutions will do differently, how they will strengthen coordination, support implementation, mobilize fit-for-purpose finance, expand access to science and technology, and establish accountability for delivery. If COP31 is to merit the name Blue COP, and more than anybody else, Ambassador Thompson popularized the term, the ocean must be visible not only in its narrative, but in its outcomes and the machinery of implementation that follows. We should carry this message from this room into the UN Climate Summit tomorrow, the pre-COP process in Fiji and Tuvalu, and finally Antalya. We should ask the UN system to improve the coherences across ocean-related mandates and institutions. We should turn today's proposals into specific actions with responsible actors, resources, and timelines. And we should ensure that the voices of the Pacific, small island states, coastal communities, scientists, and young people remain central throughout. Today's discussion has made one point unmistakable: there can be no climate stability without a healthy and resilient ocean, and there will be no effective ocean action without cooperation across borders, institutions, and sectors. With that, I thank you and hand over the floor back to the chair of the dialogue, Ambassador Peter Thomson.

Thank you very much, Rama. Okay, two points. One would be a run of thanks, and secondly, would be a little bit about that blue thread, just to conclude everything I stand between you and lunch, so I'll be very, very brief. First of all, the thanks. Thanks so much to the Secretariat, the Executive Office of the Secretary General, and to DESA. Superb work just in the last two weeks. You can imagine how much scrambling we've done. Secondly, to thank Rama, superb moderator, but in terms of carrying the heavy load, Rama was the one. So thanks, of course, to all the panelists. It's great. There was not a boring moment there, and I'm sorry we had to push you along, but we had President Trump speaking upstairs, so I think we did very well to get everybody down here when we did. And I'm sure it was a lot more interesting down here than up there anyway. So that is what I want to say in terms of thanks, but also the people in the cheap seats, eh? Come on, what did John Lennon say, rattle your jewelry or something. But thanks so much for sitting through the last two hours in here. Thank you for your closing remarks too. So everybody, I think we've had a very fulfilling two hours. So the big thanks to everybody involved. Then the Blue Thread. Okay, we run from, you've heard how this is all running towards Antalya, the Blue Cop. And, you know, Australia and Turkey have done such a fantastic job in preparing us for that, Fiji and Tuvalu doing their bit as well. So that, of course, that thread doesn't end in Antalya. The thread carries on. And we, the weavers of the thread, and that's all of us, have to keep that weaving process going. I'm hearing ocean governance, I'm hearing ocean finance, hearing ocean science. These are the three threads that we're really weaving everywhere we can go. And in Fiji, when you weave something like that, you end up with a very nice mat, which we call a longa. And I think that longa will be presented at the fourth UN Ocean Conference in Busan in June 2028. when I know already from talks with Korea and Chile on a regular basis that that is what we're focusing on, finance and science and governance. So the map will be ready by the time we all arrive in Busan and Talia will be a big part of that. So thank you so much. Everybody, go and have some lunch. Thank you. Rama, well done. Did you enjoy yourself? That's the main thing. Did you enjoy yourself?