Fifth Our Ocean Conference in Bali, Indonesia: Vice-President Vincent Meriton addresses plenary session on sustainable blue economy
Fifth Our Ocean Conference in Bali, Indonesia: Vice-President Vincent Meriton addresses plenary session on sustainable blue economy
‘Seychelles’ blue economy agenda places ocean as driver of country’s development’
Seychelles’ blue economy agenda places the ocean as the driver of the country’s development and prosperity, Vice-President Vincent Meriton told the audience during the plenary session on sustainable blue economy on the second and final day of the fifth Our Ocean Conference in Bali, Indonesia.
One of seven speakers on the day, VP Meriton told the gathering that the ocean defines our way of life, hence, we must dedicate our lives to its protection so that we can continue to benefit from the immense goods and services that it provides our people.
“Dependence on our marine resources, particularly in terms of our vital fisheries and tourism sectors, has resulted in negative impacts to the ocean. Therefore, we now require innovative strategies to re-establish a healthy balance.
“We believe that transparency and strong partnerships are essential principles of a blue economy and need to be strengthened. This is why my government is making a commitment to host the Fisheries Transparency Initiative (FiTI) headquarters in Seychelles by April 2019,” said VP Meriton during the session moderated by Justin Mundy, a senior fellow of the World Resources Institute.
VP Meriton added that the Seychelles government believes that this global multi-stakeholder initiative will contribute greatly towards enhancing responsible and sustainable fisheries through transparency and participation.
“The FiTI will enhance the credibility of fisheries information through a deliberative process that involves all major stakeholder groups. We believe that transparency is a prerequisite for informed public debates on fisheries policies and for achieving meaningful participation in fisheries decision-making. Through FiTI we can help establish a trust based, consensus-oriented multi-stakeholder environment for collective action,” he said.
VP Meriton, who on the first day of the conference on Monday launched the world’s first sovereign blue bond to support a transition to sustainable fisheries and the development of the country’s blue economy, added that Seychelles and other pioneers like Indonesia and Mauritania have already started the FiTI process.
“For it to grow and help other countries, FiTI needs a permanent headquarters and secretariat. Seychelles hopes that other countries and institutions will recognise and support the valuable contribution that FiTI can make towards global fisheries governance. To survive and prosper as a small island state, Seychelles must continue to innovate and be proactive in addressing the challenges and opportunities of our times,” explained VP Meriton.
He noted that the US $15 million blue bond demonstrates the potential for countries to harness capital markets in order to finance projects that empower local communities and businesses for the sustainable use of marine resources
“Through FiTI, we set the standards for improved partnership and good governance of our fisheries. With the proceeds of the blue bond, we now have the financing to develop those partnerships and improve governance to support the transition to sustainable fishing. We owe this to our people and also to the international community,” concluded VP Meriton.
The other speakers included Premdut Koonjoo, Minister for Ocean Economy, Marine Resources, Fisheries, and Shipping of the Republic of Mauritius; Vidar Helgesen, special envoy of the Prime Minister of Norway to the High-level Panel on Building a Sustainable Ocean Economy; Laura Tuck, World Bank vice-president for sustainable development; Jonathan Taylor, vice-president European Investment Bank; Atsushi Sunami, executive director and president of Ocean Policy Research Institute.
Gerard Govinden in Bali, Indonesia
‘Seychelles’ blue economy agenda places ocean as driver of country’s development’
Seychelles’ blue economy agenda places the ocean as the driver of the country’s development and prosperity, Vice-President Vincent Meriton told the audience during the plenary session on sustainable blue economy on the second and final day of the fifth Our Ocean Conference in Bali, Indonesia.
One of seven speakers on the day, VP Meriton told the gathering that the ocean defines our way of life, hence, we must dedicate our lives to its protection so that we can continue to benefit from the immense goods and services that it provides our people.
“Dependence on our marine resources, particularly in terms of our vital fisheries and tourism sectors, has resulted in negative impacts to the ocean. Therefore, we now require innovative strategies to re-establish a healthy balance.
“We believe that transparency and strong partnerships are essential principles of a blue economy and need to be strengthened. This is why my government is making a commitment to host the Fisheries Transparency Initiative (FiTI) headquarters in Seychelles by April 2019,” said VP Meriton during the session moderated by Justin Mundy, a senior fellow of the World Resources Institute.
VP Meriton added that the Seychelles government believes that this global multi-stakeholder initiative will contribute greatly towards enhancing responsible and sustainable fisheries through transparency and participation.
“The FiTI will enhance the credibility of fisheries information through a deliberative process that involves all major stakeholder groups. We believe that transparency is a prerequisite for informed public debates on fisheries policies and for achieving meaningful participation in fisheries decision-making. Through FiTI we can help establish a trust based, consensus-oriented multi-stakeholder environment for collective action,” he said.
VP Meriton, who on the first day of the conference on Monday launched the world’s first sovereign blue bond to support a transition to sustainable fisheries and the development of the country’s blue economy, added that Seychelles and other pioneers like Indonesia and Mauritania have already started the FiTI process.
“For it to grow and help other countries, FiTI needs a permanent headquarters and secretariat. Seychelles hopes that other countries and institutions will recognise and support the valuable contribution that FiTI can make towards global fisheries governance. To survive and prosper as a small island state, Seychelles must continue to innovate and be proactive in addressing the challenges and opportunities of our times,” explained VP Meriton.
He noted that the US $15 million blue bond demonstrates the potential for countries to harness capital markets in order to finance projects that empower local communities and businesses for the sustainable use of marine resources
“Through FiTI, we set the standards for improved partnership and good governance of our fisheries. With the proceeds of the blue bond, we now have the financing to develop those partnerships and improve governance to support the transition to sustainable fishing. We owe this to our people and also to the international community,” concluded VP Meriton.
The other speakers included Premdut Koonjoo, Minister for Ocean Economy, Marine Resources, Fisheries, and Shipping of the Republic of Mauritius; Vidar Helgesen, special envoy of the Prime Minister of Norway to the High-level Panel on Building a Sustainable Ocean Economy; Laura Tuck, World Bank vice-president for sustainable development; Jonathan Taylor, vice-president European Investment Bank; Atsushi Sunami, executive director and president of Ocean Policy Research Institute.
Gerard Govinden in Bali, Indonesia
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