World Bank issues SOS for oceans, backs alliance

Source: Reuters

World Bank issues SOS for oceans, backs alliance

By David Fogarty

SINGAPORE | Fri Feb 24, 2012 6:55am EST

(Reuters) - The World Bank announced on Friday a global alliance to better manage and protect the world's oceans, which are under threat from over-fishing, pollution and climate change.

Oceans are the lifeblood of the planet and the global economy, World Bank President Robert Zoellick told a conference on ocean conservation in Singapore. Yet the seas have become overexploited, coastlines badly degraded and reefs under threat from pollution and rising temperatures.

"We need a new SOS: Save Our Seas," Zoellick said in announcing the alliance.

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The World Bank could help guide the effort by bringing together existing global ocean conservation programs and support efforts to mobilize finance and develop market-mechanisms to place a value on the benefits that oceans provide.

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Read more: http://www.reuters.com/article/2012/02/24/us-worldbank-oceans-idUSTRE81N09S20120224