• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 11, 2025

    Featured image for article about Headlines

    By Andrei Khalip and Simon Jessop

    LISBON (Reuters) -Portugal said on Wednesday it was creating a new protected marine area around the Gorringe Ridge in the Atlantic Ocean that includes Western Europe's tallest seamount, positioning itself as a leader on the way to international conservation goals.

    The announcement by Environment Minister Maria da Graca Carvalho comes as countries gather in the French city of Nice for the third U.N. Oceans conference, aiming to accelerate action to preserve marine environments.

    Carvalho said that with the Gorringe marine protected area (MPA), some 200 km (124 miles) off the southern coast of continental Portugal, and two smaller areas to be created, the share of its seas protected would rise to at least 27% from 19%.

    "In terms of marine protection we are the most advanced country in the world with our characteristics combining continental and insular territory. Certainly the leader in Europe," she said.

    The creation of more MPAs globally is a key goal of the U.N. conference amid a push to get more countries to ratify and implement the 2023 High Seas Treaty, which provides a legal framework to protect biodiversity in international waters.

    So far, 51 countries have ratified the treaty, just short of the 60 needed for it to become legally binding.

    According to a report from last October, 8.4% of the world's marine and coastal areas were protected, less than a third of the way to a global goal of 30% by 2030.

    Carvalho said the creation of the MPA was expected to be approved by decree in the next couple of months, with total acreage and detail on how much will be designated as a fully protected area, where no fishing is allowed, to be determined.

    Emanuel Gonçalves, chief scientist at Oceano Azul Foundation, which mapped the area with the Portuguese navy and whose findings informed the government decision, said the recommended MPA would total 100,000 square kilometres (38,610 square miles).

    "A large-scale MPA like this, if fully protected, will functionally connect seamounts, abyssal plains, and open ocean, and create a safe haven to highly mobile and migratory species, and deep sea habitats," he said.

    "It will provide a fertile nursery and feeding ground for turtles, sharks, marine mammals, sea birds and tunas, expand or restore kelp and coral forests and create a sanctuary for the unique breeding aggregation of torpedo rays."

    Last year, Portugal created the largest protected area in the North Atlantic, encompassing almost 300,000 sq km around the Azores archipelago, half of it fully-protected.

    (Reporting by Andrei Khalip and Simon Jessop. Editing by Mark Potter)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe