28.06.2022
Type: Abreu News
Abreu Advogados takes principled stand at UN Ocean Conference
Abreu Advogados joins 150 companies, with a combined market capitalization of 1 trillion euros, to take action for a healthier ocean at the UN Ocean Conference.
At the Sustainable Blue Economy Investment Forum in Cascais, Portugal, a special UN Ocean Conference event, Abreu Advogados joined 150 major companies in signaling their commitment to a healthy ocean by signing onto the UN Global Compact Sustainable Ocean Principles.
In addition to the Ten Principles of the UN Global Compact, the Sustainable Ocean Principles provide a framework for responsible business practices across ocean sectors and geographies. Companies signing on to the Sustainable Ocean Principles commit to assess their impact on the ocean and integrate ocean sustainability into their overall strategy.
The world depends on a healthy, productive and resilient ocean for food security, climate mitigation and economic livelihoods. Climate change, overfishing, pollution, and unsustainable and inequitable development are damaging the health of our ocean and seas.
“From an early stage, at Abreu Advogados we are committed on the pursuit of the Sustainable Development Goals, set out in the United Nations Agenda 2030, which include the conservation and sustainability of the oceans, seas and marine resources. By signing these nine “Sustainable Ocean Principles” we are taking responsibility for taking the necessary measures to ensure a healthy ocean, in collaboration with society. It is a crucial step to continue contributing for a more sustainable planet and a brighter future for generations to come”, explains Inês Sequeira Mendes, Managing Partner of Abreu Advogados.
“Today’s commitment by 150 blue economy companies showcases the private sector’s willingness to support SDG 14. Healthy and productive oceans rely on all actors to do their part. I am encouraged by these companies and their commitment to integrate ocean health into their corporate strategies,” said Sanda Ojiambo, Assistant Secretary-General and CEO of the United Nations Global Compact.
Abreu Advogados joins some of the largest blue economy companies, including Mediterranean Shipping Company, Ørsted, SAP SE, and Thai Union, as one of the 150 signatories of the UN Global Compact Sustainable Ocean Principles, spanning 30 industries, 35 countries and six continents, with a combined market capitalization of 1 trillion euros. Sustainable Development Goal 14 (Life below water) still has the lowest level of financial investment of any of the 17 SDGs.1 There is a need for increased public, private, and blended financing to foster a sustainable blue economy.
The UN Global Compact announced it will join a coalition of global stakeholders to develop a universal guidance for Blue Bonds—a commitment to provide the global market consistency and transparency in financing the sustainable blue economy. The Global Guidance for Bonds Financing the Blue Economy aims to provide market participants with clear criteria, practices and examples for blue bond lending and issuances.
The full of list of signatories on the Sustainable Ocean Principles can be found here.
