The CEO of Ficosterra participates in the 10th International Waters Conference of the Global Environment Facility (GEF)

For four days, this conference brought together leaders, experts, and representatives of international projects to address critical global challenges related to water and ocean sustainability within the framework of the Sustainable Development Goals (SDGs).

The GEF emerged as a pilot program of the World Bank in 1991. It currently brings together 186 countries working in collaboration with international institutions, civil society organizations, and the private sector to tackle global environmental problems. Today, the GEF is the main source of funding for environmental projects worldwide, with over 1,600 active projects in 149 countries, amounting to more than USD 8.6 billion directly and over USD 57 billion in co-financing.

Invited by UNDP, co-organizers of the event, Luis Lombana had the opportunity to present the results of the international Nutrialgae trials, developed by Ficosterra under the UNDP Ocean Innovation Challenge program, contributing to SDG 14. The trials conducted in Mexico and Morocco, in collaboration with CICESE and GN Productores Agrícolas (Mexico) and the University of Casablanca (Morocco), demonstrated that Ficosterra’s marine algae and microorganism bio-stimulants increased crop productivity (+20%) while reducing conventional fertilization and consequent ocean pollution (-30%).

The conference also highlighted success stories from other ocean innovators such as OneSea and the University of Surrey.

Uruguayan Minister Omar Paganini inaugurated this 10th Biennial Conference, which brought together over 400 delegates from a hundred countries and representatives of international agencies.

What is sustainable Blue Economy?

To understand the sustainable Blue Economy today, in a world where everything is connected, with advanced technologies and new realities, it is essential to approach ocean management with an inclusive and innovative perspective. It is not only necessary to prevent risks but also to consider the environmental, social, and economic challenges we face today.

In this context, the Blue Economy becomes an incredibly useful tool to address various human and ecological needs. From reducing risks from natural disasters to promoting the economic prosperity of the most vulnerable communities.

By investing in the conservation of marine-coastal ecosystems, we are not only protecting our coastal communities but also increasing our capacity to face the effects of climate change and other socio-environmental threats. A good example is mangroves, which not only strengthen coastal resilience but are also essential for coastal life, acting as a barrier between the sea and the land. Mangrove forest ecosystems (coastal areas where salt-tolerant trees and shrubs grow) are of tremendous importance because, firstly, they function as a natural barrier against storms and surges, reducing erosion and protecting coastal communities. They also constitute the habitat for a wide variety of marine and terrestrial species, serving as breeding and refuge areas for fish, birds, and other animals. Additionally, they absorb copious amounts of carbon, helping to mitigate climate change, and lastly, they provide food, wood, and medicinal products for local communities.

If we integrate their conservation and restoration into our community development plans, we protect marine biodiversity and, at the same time, provide especially useful tools for local communities to thrive in harmony with nature.

Financial innovation is key to ensuring that blue economy models succeed and endure over time. With new forms of financing, the potential of the blue economy can be expanded, and new business models can be built that bring prosperity and new benefits to present and future generations, with special attention to the most vulnerable countries and regions, such as the Global South, which have enormous untapped marine potential that could drive their economic development.

An important example of these financial mechanisms is blue bonds, which offer a unique opportunity to align commercial interests with ocean conservation. By investing long-term in sustainable projects, we not only ensure the health of our oceans but also secure lasting economic returns for both communities and the environment.

In the debate between sustainability and economic progress, the blue economy emerges as a beacon of hope.

Through global collaboration and collective action, we can move towards a future where oceans thrive, and our communities grow in harmony with nature.