Excellencies,
Distinguished Speakers,
Colleagues,
Welcome to this virtual side event on the ocean-based economy.
I thank AOSIS and Monaco for co-organizing this event with UN DESA.
This side event demonstrates our shared commitment to harnessing the ocean-based economy and supporting sustainable growth of SIDS.
Ahead of the 4th International Conference on Small Island Developing States and the 3rd UN Ocean Conference, promoting ocean-based economy and addressing financial gaps for ocean action are key priorities for SIDS.
As we all know, 19 per cent of the world¡¯s coral reefs are located in SIDS. SIDS make up 14 per cent of the world¡¯s coastline. 3.5 per cent of SIDS is land, and 96.5 per cent is ocean. The coastal tourism sector is worth over 30 per cent or more of GDP in some SIDS.
The draft SIDS Outcome currently under negotiation calls upon the international community to assist SIDS in pursuing opportunities of a sustainable ocean-based economy.
It is fundamental to the livelihoods, resilience, culture and identity of SIDS.
But the ocean and its resources are under considerable stress from anthropogenic sources, putting in peril the future sustainability of SIDS.
SDG 14 targets that were supposed to be achieved by 2020, have still not been met.
Despite the challenges, SIDS have been leading by example in marine conservation and ocean-based economy, transforming their unique structural marine characteristics into opportunities.
Given their vulnerabilities, SIDS continue to rely on the support of the international community to harness the resources and opportunities of the ocean-based economy, including through enhanced finance, capacity building and sharing of state-of-the-art technologies and best practices.
UN DESA continues to work with UN partners in promoting SIDS-initiated strategies for advancing the sustainable ocean-based economy.
Through the Development Account, we work closely with the Regional Commissions to develop capacity building programmes to support SIDS.
We are committed to establishing an online platform, providing space and opportunities for identifying and sharing lessons learned, success stories and best practices.
The upcoming 3rd UN Ocean Conference provides another opportunity for rallying support for this concrete initiative for SIDS.
We look forward to working with SIDS, development partners, multilateral development banks, and UN entities to foster a more inclusive and sustainable ocean-based economy that will benefit SIDS and the global community.
Thank you.