According to the environment head, the European Union will invest 3.5 billion euros protecting the ocean. The conference has mobilized over 2,160 agreements, valued at almost $130 billion

The top environment official for the European Union (EU) said on Tuesday that the EU would invest 3.5 billion euros ($3.71 billion) this year in a number of programs aimed at protecting the ocean and advancing sustainability.

The 40 pledges include everything from combating marine pollution to promoting sustainable fishing and making investments in the “blue economy,” which refers to the sustainable use of freshwater and marine resources for commercial purposes.

About 120 nations attended the annual “Our Ocean” meeting this week in Athens, where the agreements were made.

According to Virginijus Sinkevicius, the EU Commissioner for Environment, Oceans, and Fisheries, “the ocean is part of who we are and it is our shared responsibility.”

Supporting 14 investments and one reform in sustainable fisheries in Cyprus, Greece, Poland, and Portugal valued at approximately 1.9 billion euros is one of the commitments. Another is to provide 980 million euros through the EU’s Recovery and Resilience Facility (RRF) to support four investments and two reforms aimed at combating marine pollution in Cyprus, Finland, Greece, Italy, and Spain.

Other programs aim to support the development of the blue economy in African nations.

A Greek government source told Reuters on Monday that more than 400 fresh promises totaling $10 billion would be revealed at the conference. The person spoke on condition of anonymity.

Based on data dating back to 1979, the European Union’s Copernicus Climate Change Service said last month that ocean temperatures reached a record high in February. Two other significant hazards to seas are overfishing and plastic waste.

Since its inception in 2014, the conference has secured over 2,160 contracts totaling over $130 billion.

One dollar is equal to 0.9430 euros.