Hi there –
The COP28 climate conference is just over a week away. Ahead of the UN climate conference, the Ocean Pavilion has unveiled the COP28 Dubai Ocean Declaration, urging world leaders to adopt measures that bolster ocean protection and support the advancement of ocean science and observation worldwide. The Declaration underscores the call for drastic cuts of greenhouse gas emissions, the need for immediate concrete efforts to curb other human-induced damages to the ocean, and support for the advancement of ocean-based solutions.
Playing a critical role in the efforts to achieve net-negative emissions, the ocean is poised to be a core component of conversations as the world takes stock of progress on the Paris Agreement. In just over a week, several Blue Climate Collective members will be on the ground in Dubai to advance ocean-based solutions. Stay tuned for updates from the Collective.
What we’re reading
Climate change could cost the shipping industry up to $10 billion annually by 2050, from damage and disruption to ports alone.
After a hiatus of more than a decade, a new round of research into ocean iron fertilization is set to begin as scientists have received $2 million to fund robust modeling and a viability review of the potential carbon dioxide removal method.
The U.S. Department of Energy recently announced a $444 million investment to support 16 carbon management technology projects spanning 12 states.
Greek shipping company Naftomar announced a $500M order for four ammonia carriers from South Korean conglomerate Hanwha, a significant signal for the wider adoption of lower-emission fuels in pursuit of the IMO’s goal of decarbonizing the shipping industry by 2050.
The U.S. and China agreed to revive a bilateral climate working group that will focus on key areas of cooperation including the abatement of methane emissions and curbing plastic pollution.
Deep-learning AI models are being developed to accelerate and automate mapping of coral reefs and seafloor ecosystems, improving the efficiency of ocean conservation and aquaculture management efforts.
The ports of Los Angeles and Guangzhou announced plans to establish a Green Shipping Corridor — a dedicated shipping route for vessels with a reduced environmental footprint that supports the transition to low- and zero-emission fuels and promotes green infrastructure that further facilitates efficient adoption of these fuels.
Innovators in ocean-based climate solutions were featured in the inaugural TIME100 Climate list, including maritime decarbonization leaders Lauren Eatwell and Mark Watts.
Member updates and opportunities
The application for the 2024 Keeling Curve Prize is now open. Collective members Vesta, PBC, and Symbrosia are previous winners of the $50,000 prize awarded to projects focused on reducing, replacing, or removing greenhouse gas emissions.
At the International Vienna Energy and Climate Forum, Collective member Global OTEC unveiled advanced concepts for Dominique, a commercial-scale ocean thermal energy conversion platform that is set to be installed in São Tomé and Príncipe, capable of generating a net output of 1.5 megawatts.
Listen to Sea F. Briganti, founder and CEO of Collective member LOLIWARE Inc., speak with Only One’s cofounder Aaron Kinnari in the latest episode of Upwell on how seaweed aquaculture can combat the petrochemical industry and what lies ahead for the sustainable materials market. Last week’s episode featured David Grossman, the founder and CEO of Collective member PanaSea Aquaculture, who discussed the rapidly scaling aquaculture sector and the importance of community-based approaches to sustainable commerce.
Collective member Biome Algae has entered a new partnership with Rockabill Marine Design to develop a hybrid propulsion kelp harvester with a harvesting capacity of 40 tonnes/day.
Collective members Blue Ocean Gear and Ashored Innovations recently participated in the “Let's Talk Ghost Gear" webinar to discuss technology to prevent and mitigate pollution from abandoned, lost, and discarded fishing gear, which will soon be released on the Global Ghost Gear Initiative’s YouTube channel.
Collective member Waterhaul is raising investment to scale their eyewear solution to ghost fishing gear. They’re opening up investment opportunities through the crowd to take their impact global.
As we continue to scale our network of start-ups and stakeholders advancing ocean-based climate solutions — now at 70 members — we hope you’ll take a moment to learn more about some of them in our community hub or follow @OnlyOne on Instagram for updates on the road to COP28.
