In recognition of the need for a comprehensive global regime to better address the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (BBNJ), the UN General Assembly agreed to develop an international legally binding treaty under UNCLOS to adequately address these concerns. The agreement will create new international high seas regulation on:
- Environmental impact assessments (EIAs)
- Area-based management tools, including marine protected areas (MPAs)
- Marine genetic resources (MGRs) including benefit sharing
- Capacity-building and transfer of marine technology
The negotiations for the treaty are still ongoing, with the fourth and final session being postponed due to COVID-19. This new regulatory regime is likely to have broad implications for the maritime industry, including for marine insurers.
In this webinar Paul Holthus, CEO of World Ocean Council (WOC) provided a briefing on the content, timelines and potential impacts of the BBNJ on the shipping and other marine industries which will affect business access and operations in the high seas for the foreseeable future.
Paul’s presentation was followed by a Q&A with the audience.