GC for Med – Session 1 : Kick-off session

All companies are more or less directly related to the ocean and many businesses are able to bring solutions to environmental and social challenges.

Over the last decades the number and intensity of the usages of the ocean has dramatically risen. Consequently, our social and economic dependencies on the ocean have increased as well as our impacts on the marine environment, thus threatening the services provided. Yet, oceans, Earth’s most vital ecosystem, crucial for humanity’s survival, face increasing stress from climate change, pollution, and biodiversity loss. The identification of related dependencies, impacts, risks and opportunities appears to be especially complex as Sustainable Development Goal 14 “life below water” remains largely neglected by investors and is the least mentioned by companies when reporting.

The Mediterranean Sea holds immense ecological, economic and cultural value. Territories of the Mediterranean Sea share the heritage of civilisational encounters, as well as the Mediterranean Sea itself, which is seen as a common environment, a shared resource and a zone of cultural and commercial exchange. Its shores host some vital economic activities sustaining millions of people across its basin. Its environmental health is crucial for climate regulation and coastal livelihoods, making its preservation a global priority.

In the perspective of the upcoming third UN Ocean Conference, which will be held on the Mediterranean coast in Nice, a multi-stakeholder approach must be adopted. Transforming business models and relation to the Ocean is pivotal for addressing various global challenges, including climate change, biodiversity loss, food insecurity, and public health concerns as well as ensuring sustainable economic opportunities.

GC for Med aims to gather Mediterranean stakeholders through Global Compact Networks in order to give businesses tools to commit and set actions, build partnerships and share their perspective on ocean challenges.