MSC Foundation focuses on ocean action at the Blue Economy Summit 2024

Key interventions in two panel discussions explore concrete marine conservation actions

Focus Area: Marine Conservation

The second annual Blue Economy Summit organised by the One Ocean Foundation was a key event in World Oceans Week, during the lead-up to UN World Oceans Day. Held in Milan’s prestigious Bocconi University, it was open to the public and streamed as part of the United Nation’s commitment to Ocean Week. This high profile attracted International leaders from business, finance, academia and the scientific community, non-profit organisations and institutions, who gathered to discuss the urgent challenges our oceans face today.

The Summit has been conceived to raise awareness, foster advocacy, encourage dialogue and debate, and spur action to advance the blue economy through innovative partnerships, strategies and concrete solutions for ocean health. This year’s discussions focused on pollution mitigation, the need for more resilient water systems, sustainability reporting, tackling biodiversity loss, leveraging tech-based innovations for ocean health, creating a solid Blue Capital Market and new blue economy opportunities.

The keynote speakers included renowned conservationist Sylvia Earle, eminent marine biologist, Stefano Caselli, SDA Bocconi School of Management Dean, One Ocean Foundation President Riccardo Bonadeo, Prof Carlos Duarte and Minna Epps, Director of the IUCN Ocean Team.

MSC Foundation Executive Director Daniela Picco was also a key presence. Taking part in two panel discussions, she explained how the MSC Group’s support acts as a lever for growth and global impact, and how the Foundation’s work with expert partners demonstrates the crucial benefits of pooling technical expertise and know-how.

In other interventions, she examined how the Foundation’s innovative approach to marine protection is enabling effective concrete action across a range of different areas, each with different partners.

The Foundation is investing in Ocean Science as a partner of the International Union for Conservation of Nature (IUCN), supporting a global assessment of the world’s coral species to update the Red List for Threatened Species. This commitment recognises the vital role of reliable data in identifying effective conservation goals, strategies and actions.

For similar reasons, we have been working with NatureMetrics since June 2023, leveraging the assets of the MSC Group and presence of MSC Cruises in the North Atlantic to support its biodiversity mapping based on sampling environmental DNA (eDNA) in seawater. We will be providing open access to this data through the Global Biodiversity Information Facility.

At a local level in The Bahamas, we are implementing our own long-term programme to conserve, restore and increase the resilience of coral reefs off the island of Ocean Cay, building the MSC Foundation Marine Conservation Center and working in partnership with the Government, leading universities, marine scientists and conservationists.

Daniela’s final example was the MSC Foundation’s programmes to mobilise collective action through ocean literacy and education with partners Marevivo and Mission Blue.

She concluded with a rousing call for multi-stakeholder interventions: “Ocean Action is a collective endeavour and we must not only observe and adapt, but actively participate in restoring, revitalising and rehabilitating our oceans, while contributing to the prosperity of coastal communities”.

The Blue Economy Summit 2024 was an inspiring occasion rich in stimulating discussions on the critical role of knowledge acquisition and partnership in building a sustainable future for our oceans.