Oceans
We cannot meet future needs for food, emission reductions, climate adaptation, and value creation without the ocean.
The growth potential of ocean-based industries is substantial, and the opportunities are enormous. However, the ocean and coastal ecosystems are under immense pressure from climate change, overfishing, pollution, and coastal developments. A destruction of the ocean would be catastrophic. The ocean produces more than 50% of all oxygen, and so far, it has absorbed over 90% of the excess heat from global warming.
The overarching goal of the portfolio is to contribute to a clean and healthy ocean and a sustainable and equitable ocean economy.
Norad will work towards the following objectives:
- Marine ecosystems are protected and climate resilient and degradation is minimised.
- Effective and inclusive governance at global, regional and national levels ensures sustainable management of the ocean.
- Communities have equitable access to ocean resources and shared benefits, and rights are safeguarded.
- Illegal, unreported, and unregulated fishing and environmental crime monitored and prevented.
- Marine litter is prevented and significantly reduced in developing countries and waste management on land is improved.
- The fisheries and aquaculture sector is sustainably managed, with access and benefits for small scale stakeholders.
- Businesses and jobs contribute to ocean economy solutions and adaptation to climate change.
Please see attached documents for more comprehensive information about the portfolio.