The European Union (EU) announced it will invest €1 billion in 50 projects for marine sustainability.
European Commission President Ursula von der Leyen made the announcement in Nice, during the event to present the EU Pact for the Oceans, on the sidelines of the UN Oceans Conference.
On Monday, at the United Nations Ocean Conference in Nice, the EU President unveilled a new ocean pact meant to protect Europe's coasts and "life in and around the sea".
The EU’s goal is to bring 20% of Europe’s marine ecosystems back to life by 2030, she explained.
“We will strive to cut plastic and nutrient pollution by half within five years,” von der Leyen announced, adding: “We will restore natural habitats and shelter our coasts more effectively from the impact of climate change.”
The European Commission’s strategy aims to enhance ocean protection and restoration by supporting member states and revising several European laws related to maritime areas.
The EU’s executive also wants to boost the competitiveness of the maritime industry with a new strategy for the sector and a strategy for EU ports.
“Our fishers work tirelessly to feed us, day and night, in all conditions. Yet extreme weather and unfair competition are pushing too many of them out of business,” the Commission president said, announcing some grants to support small-scale fisheries.