Ocean ‌Protection a Multi-Billion Dollar​ Opportunity, Says Former Colombian President

Updated June 17, 2025

Bogota, Colombia –⁤ Investing in ocean protection is not only crucial for the environment but also presents a significant ⁢economic opportunity, according to Ivan Duque Marquez, former president ​of Colombia. Marquez argues‌ that safeguarding marine ecosystems can unlock billions of⁣ dollars in annual returns.

Marquez’s comments ⁢follow the recent⁢ UN‌ Ocean Conference ‍in Nice, France, which aimed‌ to promote sustainable use of ⁢marine resources.​ He emphasized that currently,⁣ only a⁣ small‌ fraction‍ of the ocean is effectively protected, leading⁤ to ​ecological and economic ⁤losses.

“The⁤ services the ocean provides are the backbone of our collective ⁣health, wealth and ⁤food security, yet today ⁤just 2.7% of the ‍ocean has been ​assessed and⁢ deemed to ​be effectively protected,” Marquez said.⁤ “In failing to establish adequate safeguards, not only are we condemning communities and ecosystems across the world ⁤to decline and ⁢collapse,​ we⁣ are​ also ⁤overlooking a significant economic opportunity.”

He noted ⁤that protecting 30% of the ocean globally could⁢ generate approximately $85 ‍billion⁤ per year⁣ by 2050. This⁤ figure⁤ accounts for benefits such‌ as preserving coastal defenses, avoiding carbon ‍emissions from seagrass loss, and ‍improving fisheries.

Marquez ‌highlighted the existing ​funding gap for marine protection, with only $1.2 billion currently allocated annually compared to⁣ the $15.8 billion needed to ‍meet the 30% ⁢protection target by 2030. He urged wealthy nations to fulfill ⁤their pledges and integrate ocean protection targets into their national⁢ plans.

Colombia, Marquez noted, has already exceeded its commitment by protecting‍ 37.6% of its ocean areas. He also cited​ Ecuador’s debt-for-nature swaps as a successful model for financing marine ​protected areas.

Marquez stressed the importance of⁢ international cooperation,​ particularly regarding the high seas, ⁣where only a small percentage⁢ is currently protected. He lauded the impending‍ ratification ⁤of⁣ the High ​Seas Treaty and Chile’s⁢ proposal to create⁢ a high‍ seas Marine ​Protected Area (MPA) along the Salas ⁣y Gómez and Nazca ridges.

“Chile’s plans connect existing national MPAs⁢ with⁤ proposed protections in international waters, aiming to ⁤create a ‍continuous‌ network of conservation‌ areas to maintain ecological connectivity for migratory species.This is exactly ​the kind of multilateral coordination ‍we need ⁢to scale,” Marquez said.

Marquez concluded by emphasizing the ⁢urgency of closing the ocean finance gap, arguing that the benefits‌ of ocean protection far outweigh the costs.

What’s next

The ratification of the High Seas⁣ Treaty is expected to spur further action in protecting international waters.⁢ Countries are developing proposals for new high seas MPAs, ⁤offering a ⁤chance‌ for global cooperation ​on shared resources.