International Oil Pollution Compensation Funds (IOPC Funds)

The International Oil Pollution Compensation Funds (IOPC Funds) are international organizations that provide financial compensation for damage caused by oil spills from tanker accidents. Established under the 1992 Oil Pollution Convention, these funds help cover costs related to environmental clean-up, economic losses, and damage to property caused by oil pollution. They work alongside the responsible parties to ensure affected individuals and communities receive fair compensation. The IOPC Funds are funded by contributions from oil companies, promoting accountability and support for victims of oil spills globally.