The UN Global Compact (UNGC), of which EDP has been a member since 2004, has developed the 9 Principles for a Sustainable Ocean that provide a framework for sustainable business practice across all industries and regions. These principles are based on and complement the 10 Principles of the UNGC, which EDP has already endorsed, regarding human rights, employment practices, the environment and anti-corruption. Together with the sectoral Practical Guidance for Implementation and the Ocean Stewardship 2030 report, the principles are a guide for corporations to make a positive contribution to the 2030 Agenda.
Signatories to these Principles accept the urgency and global importance of having healthy oceans and undertake to take measures to promote the well-being of the ocean for current and future generations under the initiative headings of "Ocean Health and Productivity", "Governance and Engagement" and "Data and Transparency". In practice, the signatories are expected to evaluate the impact of their activities on the health of the oceans and to incorporate the principles in their strategies and policies; consider sustainable business opportunities; take measures to prevent pollution and reduce the emission of greenhouse gases; to promote the circular economy; to respect human and employment rights and those of indigenous peoples in corporate activities related to the oceans; and, as appropriate, share scientific data relevant to significant research on the oceans and their mapping, among others.
Companies pledging support:
Eco Wave Power, Equinor, Iberdrola, Makeen Energy, Ørsted, PRESSERV and investors such as the Norwegian Sovereign Wealth Fund.