CDP Group's commitment to enhancing and protecting marine resources
The ocean absorbs 30% of the carbon dioxide produced on the planet, mitigating the effects of global warming; as such, our seas play a fundamental environmental role, as well as representing a source of food, energy and resources for humanity.
This natural asset, which is of inestimable value, is often put at risk due to pollution, with estimates suggesting that eight million tonnes of plastic flow into the sea every year. This figure could be reduced by 1.5 million tonnes simply by equipping developing countries with better wastewater and rainwater treatment plants.
These are impressive numbers, and the Clean Oceans initiative - the most important investment platform dedicated to financing projects to reduce marine plastic pollution- is attempting to provide a response to this need, with the support of the EIB as well as the EBRD, CDP, the Agence Française de Développement, the ICO and the KFW.
The initiative - launched in 2020 with a view to mobilising 2 billion euros by end of 2023 - has already reached more than 80% of its initial goal, with projects that have benefited over 20 million people in Benin, China, Ecuador, Egypt, Morocco, Senegal, Sri Lanka, South Africa and Togo. These results that have led to a doubling of the investment target to 4 billion euros by 2025.
CDP's commitment to enhancing and protecting the value of the ocean also extends to the world of venture capital. In recent months, Faros was launched in Taranto - an accelerator programme dedicated to blue economy startups that develop solutions for the sustainable use of marine resources, coastal tourism and port logistics and automation.
This programme is based upon an initiative launched by CDP Venture Capital, together with the Port System Authority of the Ionian Sea – Port of Taranto and Eni's Joule Business School.
These activities fall under the 2022-2024 strategy that sees an increasing commitment by CDP Group to sustainable development and the achievement of the objectives of the United Nations 2030 Agenda.