SYDNEY, 1 August 2024 - The Business Council for Sustainable Development Australia (BCSDA) submission to the Australian Parliament regarding the Agreement under the United Nations Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (BBNJ) highlights the need for business commitment to enhancing global ocean governance and promoting sustainable business practices in alignment with international treaties.
The BBNJ Agreement represents a critical advancement in the protection of marine biological diversity in areas beyond national jurisdictional boundaries, an area that has historically lacked comprehensive governance. The Agreement aims to address key issues such as marine genetic resources, area-based management tools, environmental impact assessments, and capacity building.
Relevance to SDGs:
BCSDA’s submission emphasises the Agreement's alignment with key Sustainable Development Goals (SDGs), particularly SDG 14 (Life Below Water), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals). By promoting sustainable use practices, enhancing environmental stewardship, and fostering international cooperation, the Agreement supports the broader objectives of these global goals.
In its submission, BCSDA details recommendations on various aspects of the BBNJ Agreement. In particular, it emphasises the importance of equitable access and benefit-sharing of marine genetic resources (MGRs) and calls for establishing clear guidelines to manage these resources sustainably. The submission advocates for robust area-based management tools (ABMTs), including marine protected areas, and stressed the importance of using the best available science and traditional knowledge.
BCSDA also highlights the need for thorough and transparent environmental impact assessments (EIAs) for activities that may affect marine biodiversity, integrating climate considerations into high seas governance. Additionally, the submission underscores the importance of capacity building and technology transfer to strengthen national and regional capacities for marine technology, research, and enforcement.
"The BBNJ Agreement is a significant milestone in global marine governance. Our submission highlights the need for robust international cooperation, comprehensive legal frameworks, and integrated management approaches to protect and sustainably use marine resources," said Andrew Petersen, CEO of BCSDA. "By aligning with global sustainability goals, we can ensure the health and productivity of our oceans for future generations."
Economic and Environmental Benefits
The Agreement not only aims to enhance marine biodiversity but also presents substantial economic opportunities. Sustainable fisheries and aquaculture, marine biotechnology, and marine spatial planning can drive long-term economic growth, risk management, and brand reputation. Implementing these practices aligns with global best practices and can lead to operational efficiencies, cost reductions, and enhanced compliance with environmental regulations.
About BCSD Australia
The Business Council for Sustainable Development Australia is a non-profit organisation dedicated to operationalising sustainable development practices among Australian businesses. BCSD Australia was established in Australia in 1991 and works with over 70 leading global businesses and other organisations to drive systemic transformation in key sectors, advocating for sustainable leadership and rewarding action through education, partnerships, and policy influence.
In 2014 the organisation was appointed Australia’s Network Partner for World Business Council for Sustainable Development (WBCSD).
BCSD Australia’s members believe that by integrating social and environmental impacts with financial results, business lowers its risk profile, makes better decisions and creates the solutions needed to meet the Sustainable Development Goals.
BCSD Australia’s members include leading Australian businesses, from all sectors, who share a commitment to economic, environmental and social development. It represents member companies, public sector enterprises and institutions, BINGOs and community organisations, which in turn represent 120,000 + Australian employees. www.bcsda.org.au.
t: +61 (0)2 8005 0780
m: +61 (0)412 545 994
For further information contact: Andrew Petersen, CEO, Business Council for Sustainable Development Australia, +61 412 545 994
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