WASHINGTON, DC – Until 2019 the ocean was largely absent from international climate commitments. Ocean Conservancy along with a coalition of partners changed the international climate landscape at COP25 by successfully lobbying for the ocean to have a formal place in the UNFCCC process. Now, Ocean Conservancy continues to build on that work as the new marine renewables sector lead within the Marrakech Partnership. 

The development and deployment of marine renewable energy sources will help countries around the world reach their climate commitments and keep the international goal of limiting warming to 1.5C within reach. Offshore wind energy alone has the potential to power the world four times over. Working within the Marrakech Partnership, which provides a forum for civil society to engage with countries at the UNFCCC, Ocean Conservancy can help ensure that the deployment of wind and other marine renewable technology is rapid, responsible and just. 

The world needs to deploy 2000 GW of offshore wind energy by 2050 to meet global net-zero scenarios according to the International Renewable Energy Agency and the International Energy Agency. Currently there’s less than 60GW of offshore wind energy installed in only a few countries and most of them are G20 countries. 

“We need to rapidly and responsibly scale up offshore wind to avert a climate disaster, but if we don’t expand planned offshore wind projects beyond developed countries, we will miss this opportunity” said Anna-Marie Laura, Ocean Conservancy’s Senior Director of Climate Policy. “By working through the Marrakech Partnership, and other forums, we hope to unlock the international cooperation, financing and political will to deploy these technologies at a scale and pace that will enable economic development powered by clean ocean energy.” 

One of Ocean Conservancy’s first actions as the new marine renewables lead was to host a round table on the margins of the World Bank Spring meetings that discussed how to scale up finance for deploying responsible offshore wind to meet global climate goals. Valerie Hickey, Global Director for Environment, Natural Resources and Blue Economy (ENB) at the World Bank, opened the discussion with a call to recognize the urgency driving the conversation and meet the moment with ambition and action. Representatives from governments, the marine and energy industries, the UNFCCC Climate Champions and civil society groups also attended the event. Some of the ideas they shared and discussed included: 

• How concessional financing (lower-cost financing for developing countries) can reduce the costs of initial offshore wind energy projects. 

• The need for small grant funding that could allow countries to undertake technical assessments, regulatory framework development and ocean planning necessary to attract sizable investments to deploy offshore wind projects. 
• The Global Offshore Wind Alliance, launched at COP27, is a helpful avenue for collaboration among countries, industries and community stakeholders. 
• The need for further research that factors in the externalities of the cost of importing fossil fuels so that the cost of deploying offshore renewables could be compared adequately.  
• A consensus on the need for globally accepted principles to protect biodiversity and best practices to avoid and reduce impacts on marine ecosystems, productive fisheries and coastal communities. 

“The ideas attendees shared at this roundtable discussion are just the beginning of what’s needed,” said Shamini Selvaratnam, Ocean Conservancy’s Associate Director of International Climate Policy. “While it was exciting to see the diversity of interests represented at the event, what we need to see is more widespread action to mobilize finance for the responsible development of offshore wind. We need this discussion to take place in the plenary halls of COP28 next.” 

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Ocean Conservancy experts are available for interviews upon request. 

NOTES TO EDITORS:

• A full summary of the roundtable event can be found here.

About Ocean Conservancy
Ocean Conservancy is working to protect the ocean from today’s greatest global challenges. Together with our partners, we create evidence-based solutions for a healthy ocean and the wildlife and communities that depend on it. For more information, visit www.oceanconservancy.org, or follow us on Facebook, Twitter or Instagram.