Time to Think about the Ocean (and the Surging Blue Economy Sector)

In this end-of-year reflection, the authors invite you to think about the ocean in the context of the surging blue economy sector.

The World Bank defines the Blue Economy as the “sustainable use of ocean resources for economic growth, improved livelihoods and jobs while preserving the health of ocean ecosystem”.

In 2023, the landmark High Seas Treaty was signed at the United Nations, following over a decade of negotiations.

The sector is now growing at an unprecedented speed, and is expected to continue to attract more funds, in light of the growing awareness over the crucial role played by the ocean in mitigating climate change and its relevance to climate adaptation strategies.

The Blue Economy sector is supported by a multifaceted financial landscape that includes equity and debt financing, blended finance, and impact investing, but there is a significant investment gap to achieve the United Nation’s Sustainable Development Goal (“SDG”) No. 14, Life Below Water, by 2030. Recent figures assessed it as the least funded of the 17 SDGs.

Despite this, water-related risks are becoming more understood as an increasingly key component of risk assessment for corporates. This will be especially pertinent in industries such as shipping and real estate, and it will also present new business opportunities for organisations that act early.

Read the article in the resources section below.