More than two thirds of the earth’s surface is covered by oceans, and there is a clear link between marine ecosystems and human well-being. Millions of people rely on marine resources for their livelihood and oceans can contribute to food security, poverty reduction and economic growth.
Organized by the World Ocean Council, the Sustainable Ocean Summit (SOS) will take place in Paris, France from 20-22 November, with the theme ‘Investing in Ocean Futures: Finance and Innovation for the Blue Economy’. The Summit will bring together businesses that operate in the oceans to advance action on ocean sustainable development including oil and gas, shipping, and offshore renewables as well as stakeholders from the government, inter-governmental, science and environmental communities. IPIECA is supporting the SOS event and is an official endorser.
Over one-third of oil and gas extracted today comes from offshore deposits. In support of SDG 14 (Life Below Water), the oil and gas industry practices rigorous health, safety, environmental and social management systems to help reduce negative impacts to marine environments e.g. oil spills, collisions with marine wildlife etc. The industry applies similar principles to avoid damaging fish resources and fishing-based livelihoods.