International Oil Pollution Compensation Funds

International Oil Pollution Compensation Funds (IOPC Funds) are global financial pools created to provide compensation for oil pollution damage from tanker accidents. When an oil spill occurs, these funds ensure affected parties—such as coastal communities, businesses, and the environment—receive financial support for cleanup and damages. Funded by contributions from oil shipping companies, the IOPC Funds help manage and distribute compensation beyond what individual countries' laws might cover, promoting a coordinated international response to oil pollution incidents.