Principle Power, Inc. (PPI) is participating in several events associated with The Ocean Conference, taking place this week at the United Nations, including speaking engagements hosted by The Economist’s World Ocean Summit, the World Ocean Council (WOC), and Ocean Unite, Sir Richard Branson’s effort to martial voices and resources to protect the ocean.
Sustainable Development Goal 14 aims to conserve and sustainably use the oceans, seas, and marine resources for sustainable development. Developing the Ocean Economy and unleashing its untapped business opportunities are key components of tackling these issues. The Offshore Wind sector is a major growth industry in the ocean space, with Floating Wind, in particular, being a major driving force in its globalization and expansion. The sector can and should play a key role in actively contributing to the implementation of this goal and respective targets.
As part of this effort, PPI has made a voluntary commitment to support the implementation of SDG 14. Working with others, including the World Ocean Council, PPI commits to establish a framework for discussion on issues associated with the floating offshore wind and commercial fishing industries, identifying strategies and approaches to optimize the sustainable development and economic opportunity potential for both (a description of the commitment can be found here). PPI recognizes that each plays an important existing and future role in coastal economics and policy.
“Principle Power is extremely pleased to actively take part in the first time that the United Nations meets to discuss the Oceans,” said Joao Metelo, PPI’s President and CEO. “We think it is very important to be a part of the larger ocean community and to engage actively with sectors that are already present in the ocean space, such as fishing. Floating offshore wind will generate billions of dollars of economic activity over the coming decades, and will attract major investment, which will create dramatic increases in ocean asset value. This value can be used to reinvest in sustainable ocean activities and conservation efforts.”
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