Mediterranean Basin, Nov. 27 -- The Ocean Alliance Conservation Members (OACM) has approved a 51 million euro Certified SAFE Marine Area (CSMA) Bond, a major new environmental financing instrument aimed at combating severe plastic pollution in the Mediterranean Sea and safeguarding the region's tourism-dependent economies.

The initiative comes as the Mediterranean faces escalating ecological pressure, earning global recognition as one of the world's most polluted marine basins - often described as the "sixth garbage patch." According to OACM, an estimated 229,000 tons of plastic enter the sea each year, with microplastic concentrations up to four times higher than those found in the Great Pacific Garbage Patch. Some sectors of the Ionian...