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EU Blue Economy Observatory
News article9 March 20231 min read

Our Ocean Conference: EU pledges €816.5 million to ocean protection

Following the Our Ocean Conference in Panama, the EU has announced 39 commitments for action. These actions will be funded by EUR 816.5 million, one of the biggest amounts ever announced by the EU since the start of the Our Ocean conferences in 2014. The actions aim to improve the management of marine resources, as well as increase ocean resilience to climate change, and safeguard ocean health for generations to come.

The theme of the 2023 edition is ‘Our Ocean, Our Connection’, which calls for new commitments and joint efforts worldwide in support of a secure, clean and sustainably managed ocean. In support of these objectives, the EU’s new commitments include:

  • Approximately EUR 320 million will be allocated to ocean research to maintain marine biodiversity and address the effects of climate change on the ocean. This, for example, will aid in developing the Digital Twin of the Ocean and implementing the All-Atlantic Ocean Research and Innovation Alliance. As well as help the EU Mission 'Restore our Oceans and Waters by 2030,' which has set ambitious aims for 2030, including cleaning marine and fresh waters, restoring degraded ecosystems and habitats, and decarbonising the blue economy.
  • The European Union has also reiterated its commitment to a thriving European sustainable blue bioeconomy through its Horizon Europe Framework Programme for research and innovation (2023-2024), as well as the allocation of EUR 60 million to international partnerships such as the European Partnership for a climate-neutral, sustainable, and productive blue economy.
  • A further EUR 110 million will help support the development of a sustainable blue economy in Tanzania. It will focus on (i) the environmental protection and a climate-resilient sustainable management of coastal ecosystems, (ii) the support to sustainable and job-intensive businesses in blue economy, including the conservation and sustainable use of the marine and coastal ecosystems, and (iii) a transformative governance and policy reforms.

Full list of EU commitments


Publication date
9 March 2023