Campaigner proposes ocean contingencies fund
An environmentalist and aquaculture consultant has urged the Government to provide funding for Bermuda residents whose careers depend on the ocean.
In a written proposal addressed to the governments of Bermuda and Britain, Noelle Young, who is a freelance consultant for Greenpeace UK, suggested that part of an Ocean Prosperity Fund should be set aside to establish an ocean industries contingency fund and education fund.
The public-private fund was gazetted for incorporation last year with hopes to raise $60 million for projects and businesses in areas such as sustainable tourism, marine technology, renewable energy and nature-based initiatives.
Cheryl-Ann Mapp, a blue economy specialist, said in April that part of the fund would provide “in-seed capital for businesses that wish to scale” and help position Bermuda as “the Atlantic hub for blue finance”.
Ms Young submitted the proposal last week to Andrew Murdoch, the Governor, and Jaché Adams, the Minister of Public Works and Environment.
It stated: “If Bermuda is successful in securing substantial blue economy financing and ocean-related investment, it seems reasonable that five cents of every dollar generated could be invested directly to protect the people and industries whose livelihoods depend upon the sea.”
She wrote that a contingency fund could support “marine repair businesses, charter boat operators, commercial fishers, dive operators, sports fishers, water sports companies and other ocean-dependent enterprises experiencing economic losses”.
Her comments came as the Fishermen’s Association of Bermuda voiced objection to the Government’s Marine Spatial Plan, which proposes, as part of the Bermuda Ocean Prosperity Programme, fully protecting 20 per cent of the island’s waters.
Ms Young suggested that a contingency fund would show that the plan is “not solely about protecting nature but also protecting our people, especially those whose livelihoods are intertwined with the sea”.
She added: “Likewise, an ocean education fund could provide comparable long-term benefits.
“Such an approach could further strengthen collaboration between government, industry and residents while reducing uncertainty and empowering Bermuda's diverse local community to become active partners in shaping the future of the Sargasso Sea that has sustained us since conception”
“It would also provide confidence that the benefits of marine conservation will be shared fairly among all.”
Ms Young added that several governments around the world already have programmes in place to support ocean-dependant businesses, and reiterated her passion for the sea.
She explained: “The ocean has always been central to Bermuda’s identity, it has carefully crafted our history, stitched together our social fabric and will continue to forge our future.
“The decisions we make today will determine whether future generations of Bermudians inherit a thriving, food-secure island nation with a world-class ocean education system and a resilient blue economy, or one that is increasingly vulnerable to environmental and economic shocks.”
A BOPP spokeswoman said the ocean fund is part of the Blue Prosperity Plan, which is proposed to be executed once the Marine Development Act passes in the House of Assembly.
It is unknown when the MDA, which will provide a framework for the Blue Prosperity Plan and MSP, will be debated in the House.
A spokesman for the Ministry of Public Works and Environment confirmed that Ms Young’s proposal had been received.
“As the letter was directed to the minister, the ministry will respond to the sender once it has had an opportunity to fully consider the matters raised,” he added.
Mr Murdoch did not comment on Ms Young’s proposal when contacted by The Royal Gazette.
• To read the contingency fund proposal in full, see Related Media
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