Sustainable protection of the seas to continue

The success story of the “Clean Oceans Initiative” (COI) continues: The programme, which was founded by KfW together with the French development bank AFD and the European Investment Bank in 2018, achieved its first objective prematurely: EUR 4.2 billion was mobilised by May this year to protect the oceans and reduce marine plastic waste - seven months ahead of schedule. At the 3rd UN Ocean Conference in Nice, the ‘Clean Oceans Initiative 2.0’ has now been launched, in which other European and Asian development banks are participating alongside KfW and the other founding members.

Between 2026 and 2030, another three billion euros are to be made available worldwide for the protection of the oceans and the reduction of plastic waste in the seas. To this end, sustainable waste management, wastewater management and circular economy systems will be promoted. “Clean seas are a value in themselves, but they are also a prerequisite for sustainable development and climate protection”, says Stephan Opitz, member of the management committee of KfW Development Bank. For many people around the world, the oceans are an important source of income. They also play a big role in the fight against climate change. They absorb around 30% of global greenhouse gas issues and help limit global warming.

According to the United Nations, in 2021 alone, around 11 million tons of plastic waste reached the world’s oceans, and the amount continues to rise. If this is to hold on, plastic pollution could almost triple by 2040. It is to be feared that between 23 and 27 million tons of plastic waste per year will further pollute the world's oceans and destroy ecosystems.

Plastic waste affects the flora and fauna of the oceans. Fishing is severely affected. There is a risk of health consequences for humans and animals because the plastic enters the food chain. The oceans provide food for around two billion people worldwide and are of great importance for the climate and biodiversity.

Much of the plastic waste currently ends up in the seas around Asia: therefore, COI 2.0 now also includes the Asian Development Bank (ADB). Expertise in the region will thus be used to strengthen and improve the implementation of projects in Asia.

Initially, the COI had set itself a funding target of two billion euros from 2018 to 2023. In February 2022 the amount had been doubled to four billion euros by the end of 2025 and was now reached ahead of schedule.