Enabling post-COVID-19 recovery and building a sustainable and resilient ocean economy

As the world recovers from the COVID-19 pandemic, countries face the triple challenge of socioeconomic recovery, environmental protection, and resilience to human-made and natural shocks. Recovery remains fragile and uneven as many countries have higher public debt and fewer financial resources available or are hard hit by climate and other external shocks. In this context, both the climate fund and loss and damage fund adopted at the UNFCCC Conference of the Parties (COP27) at Sharm El Sheikh, Egypt, in 2022, will be pivotal in providing the much-needed finance for mitigation and adaptation when linked to SDG 14 implementation and to compensate the countries that have contributed little to the climate crisis but are the most vulnerable to climate disasters.

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