AGL 37.50 Decreased By ▼ -0.08 (-0.21%)
AIRLINK 222.89 Increased By ▲ 0.46 (0.21%)
BOP 10.82 Decreased By ▼ -0.14 (-1.28%)
CNERGY 7.56 Decreased By ▼ -0.10 (-1.31%)
DCL 9.42 Decreased By ▼ -0.21 (-2.18%)
DFML 40.96 Decreased By ▼ -0.74 (-1.77%)
DGKC 106.76 Decreased By ▼ -3.99 (-3.6%)
FCCL 37.07 Decreased By ▼ -0.99 (-2.6%)
FFL 19.24 Increased By ▲ 0.95 (5.19%)
HASCOL 13.18 Decreased By ▼ -0.19 (-1.42%)
HUBC 132.64 Decreased By ▼ -2.32 (-1.72%)
HUMNL 14.73 Decreased By ▼ -0.86 (-5.52%)
KEL 5.40 Decreased By ▼ -0.16 (-2.88%)
KOSM 7.48 Increased By ▲ 0.07 (0.94%)
MLCF 48.18 Decreased By ▼ -2.15 (-4.27%)
NBP 66.29 Decreased By ▼ -0.18 (-0.27%)
OGDC 223.26 Decreased By ▼ -5.35 (-2.34%)
PAEL 43.50 Increased By ▲ 0.13 (0.3%)
PIBTL 9.07 Decreased By ▼ -0.23 (-2.47%)
PPL 198.24 Decreased By ▼ -4.89 (-2.41%)
PRL 42.24 Decreased By ▼ -0.62 (-1.45%)
PTC 27.39 Increased By ▲ 0.06 (0.22%)
SEARL 110.08 Increased By ▲ 3.06 (2.86%)
TELE 10.52 Increased By ▲ 0.74 (7.57%)
TOMCL 36.62 Decreased By ▼ -0.01 (-0.03%)
TPLP 14.95 Decreased By ▼ -0.28 (-1.84%)
TREET 26.53 Decreased By ▼ -0.26 (-0.97%)
TRG 68.85 Decreased By ▼ -1.30 (-1.85%)
UNITY 34.19 No Change ▼ 0.00 (0%)
WTL 1.79 Increased By ▲ 0.03 (1.7%)
BR100 12,363 Decreased By -32.9 (-0.27%)
BR30 38,218 Decreased By -629.2 (-1.62%)
KSE100 117,120 Increased By 111.6 (0.1%)
KSE30 36,937 Increased By 72.2 (0.2%)

EDITORIAL: The high seas are global commons. They belong to all of humanity. They lie outside of national boundaries, but face risk of exploration for exploitation of its generic resources by some, with others, particularly the Global South, insisting that there should be legal framework to protect against the loss of wildlife and share out its rich resources.

That debate had been on the table for more than 15 years, but thanks to unrelenting struggle by friends of high seas there is a mutually acceptable compromise now in the form of Global High Seas Treaty. “It’s a massive step”, says Veronicia Frank of Greenpeace.

Seen to be a move at attempting to build trust between the rich and poor countries the European Union has pledged $42 million to facilitate ratification of treaty and its early implementation, which is likely to be the case without any hassle as in 2017 the UN General Assembly adopted a resolution calling on nations to establish an accord or a legal framework high seas.

The high seas begin at the border of countries’ exclusive economic zones, which are extended up to 370 kilometres from coastlines.

This broad expanse of water comprises more than 60 percent of the world’s oceans and nearly half of the planet’s surface. But they draw far less attention than the coastal waters even though they serve humanity in myriad ways.

Ocean ecosystems create half the oxygen humans breathe and limit global warming by absorbing much of the carbon dioxide emitted by human activities. But they are threatened by climate change, pollution and overfishing.

When the treaty comes into force it will provide a legal framework for establishing vast Marine Protected Areas (MPAs). All activities that go on the high seas will be subjected to environmental impact assessments, with member states held accountable for their actions. And it wasn’t a smooth sailing to arrive at an agreed text of the high seas protection treaty.

Developing countries, without means to afford costly research, wanted not to be excluded from commercialization of potential substances discovered in the international waters.

They wanted to be equally benefited from profits likely from the pharmaceutical, chemical or cosmetic use of substances likely to be discovered by research conducted by rich countries.

On the face of it the agreement clinched on protection of high seas is a significant step forward towards getting together to confront and defeat the common environmental threats, including global warming, to humanity on planet earth.

That consensual draft of the treaty ensuring protection of high seas was successfully finalised, by a visibly divided global community which is indeed a great achievement on the part of friends of safe and secure high seas. But will the treaty play out as intended? There are doubts – as is the case with climate change and pollution control understandings and agreements.

In there too the commitments made by perpetrators have not materialised in actual action. In terms of mineral wealth and marine life the oceans are far richer than terra firma.

So, will this treaty on protection of high seas help the Global North share the outcome of its exploitation of resources under the deep waters with the Global South? Unfortunately, however, there is no easy answer to this profound question.

Copyright Business Recorder, 2023

Comments

Comments are closed.