Why in News?

• The 5th International Marine Protected Areas Congress (IMPAC5) was recently held in Canada in order to discuss the solutions to address the Funding Gap of Marine Protected Areas (MPAs).

Highlights

• This meeting is crucial since nations agreed to protect 30% of Earth’s lands and oceans by 2030 at the 15th Conference of the Parties to the Convention on Biological Diversity held in 2022.
• As many as 70% of MPAs are underfunded. A well-managed and sufficiently funded MPA can restore good health to vulnerable ecosystems.
• Achieving sustainable and resilient MPA networks depends on an overall commitment to protection, leadership, engagement from stakeholders, institutions, governments and organizations, Indigenous peoples, coastal communities, and individuals in an inclusive and equitable manner to advance ocean protection.
• IMPAC5 aims to provide a forum for sharing knowledge, successes and best practices in an open and respectful environment for the exchanging of ideas among a diversity of views.
• MPAs can generate sustainable revenues for their own management.
• Revenue can be generated from statutory and non-statutory MPA fees for tourism programmes, blue carbon credits generated from mangrove conservation and avoided deforestation as well as seaweed farming and sustainable coastal fisheries.
• MPAs are designated areas of the ocean that are set aside for the protection and conservation of marine ecosystems and their biodiversity.
• Within the region, certain activities are limited, or entirely prohibited, to meet specific conservation, habitat protection, ecosystem monitoring or fisheries management objectives.
• MPAs do not necessarily exclude fishing, research or other human activities; in fact, many MPAs are multi-purpose areas