The ocean covers the majority of the planet’s surface, holding 97% of all water and 80% of all life forms. Major ocean sectors such as waste management and coastal infrastructure collectively contribute to a ‘blue’ economy.
However, ocean health is under threat, faced with the triple crises of climate change, nature loss and pollution, leaving industries, businesses and livelihoods exposed. With existing financing still largely directed towards unsustainable sectors and activities, it is becoming critical that ocean-linked sectors are rapidly transitioning towards sustainable pathways. Banks, insurers and investors have a key role to play in financing the transition to a sustainable blue economy, helping to rebuild ocean prosperity and restore biodiversity to the ocean.
This report is a practical toolkit for financial institutions to pivot their activities towards financing a sustainable blue economy. It highlights how to avoid and mitigate environmental and social risks and impacts, and make the most of opportunities when providing capital to companies or projects within the blue economy.