The entry into force of the “Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction” (BBNJ Agreement) marks a historic moment. This white paper presents practical insights into the agreement’s implications from companies operating in these areas.

Ocean areas beyond national jurisdiction are one of the great remaining commons of the planet and critical to sustaining life on Earth. Representing two-thirds of all oceans and 95% of occupied habitats, these areas are home to millions of unidentified species. Their role absorbing heat and storing excess CO2 is essential to slow the impacts of climate change.

Such areas are also crossed by 90% of global trade, host critical data communications infrastructure and contribute up to 12% of global fisheries. This paper reports the views of 14 leading companies, from sectors including fisheries, international shipping and subsea cables, on the challenges and opportunities they see arising from the agreement and its implementation.