World's top fishing nations to be given millions to protect oceans

Bloomberg Philanthropies to launch major grant for coastal communities to improve the health of oceans

Millions of pounds’ worth of funding to tackle global overfishing and protect coral reefs will be announced at a major conference in Indonesia this week.

Politicians, marine experts and philanthropists will convene in Bali at the Our Ocean conference on Monday to agree commitments on how to address the pressures facing our oceans, including rising sea temperatures, unsustainable fishing practices, marine pollution and coral bleaching.

Bloomberg Philanthropies will announce a cash injection of $86m [£67m] to support coastal communities across 10 countries, including Australia, Fiji, Indonesia, Tanzania, Peru and the US.

The chosen countries are among the world’s top fishing nations, have coral reefs in their waters, or are highly dependent on fish for food.

The new funding for 2019-22 will build on Bloomberg’s Vibrant Oceansinitiative launched in 2014, and will continue sustainability projects carried out in Brazil, Chile and the Philippines.

“Informed by the first phase, our second phase will expand efforts into new countries and add a focus on coral,” said Patricia Harris, CEO of Bloomberg Philanthropies.

“Our work on oceans has shown that, when a combination of national advocacy and local leadership is backed by data, we can make great progress improving the health of our oceans and improving lives around the world.”

Scientists at the University of Queensland, Australia have identified a global portfolio of 50 coral reefs to be protected with help from the funding. Read full article.