Feb 19 • 06:10 UTC 🇲🇽 Mexico Milenio (ES)

Global Ocean Agreement Will Stabilize $2 Trillion Market; Mexico Among the 85 Signatories

The High Seas Treaty, aimed at establishing clear rules for marine biodiversity beyond national jurisdiction, has come into force, providing stability for a $2 trillion market, with Mexico being one of the signatory nations.

Since January, the High Seas Treaty, also known as the BBNJ (Biodiversity Beyond National Jurisdiction) Agreement, has come into force, marking a significant milestone for industries linked to the ocean by establishing clear rules that will provide greater certainty in a sector worth over $2 trillion annually worldwide. The treaty was adopted under the framework of the United Nations and is technically supported by organizations such as the United Nations Environment Programme (UNEP). Mexico is among the 85 nations that have ratified the agreement, highlighting its commitment to international marine conservation efforts.

Susan Gardner, director of the Ecosystems Division at UNEP, emphasized that the treaty represents the first legally binding instrument for the conservation and sustainable use of marine biodiversity in areas beyond national jurisdiction. This is a crucial step towards effective ocean management, as many businesses in the maritime sector face challenges due to regulatory fragmentation, inadequate data, or a lack of accountability. The establishment of standardized regulations under this treaty aims to address these issues, potentially leading to more consistent policies across participating nations.

The implications of the treaty are significant not just for environmental conservation but also for economic stability in ocean-related industries. By providing a framework for sustainable management and protecting marine biodiversity, the treaty encourages international cooperation and attracts investments, thereby bolstering economic growth in sectors reliant on marine resources. As more countries commit to these rules, the collaborative effort can enhance the resilience of ocean ecosystems and contribute to achieving broader environmental and economic goals.

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