Our oceans are a lifeline for many communities and economies around the world. Over 3 billion people depend on marine and coastal biodiversity for their livelihoods. With ocean goods and services having an annual tangible and proven value of US $2.5 trillion—equivalent to the world’s seventh-largest economy—working toward a sustainable blue economy is not just a conservation imperative for planet, people, prosperity, and peace, but also an attractive financial opportunity for investors, banks, businesses, and policy-makers.
Businesses whose supply chains are intertwined with the ocean also face increasingly severe risks if a business-as-usual trajectory continues. By extension, the finance sector is also exposed to these ocean-related Environmental, Social, and Governance (ESG) risks. The reality is that blue economy sectors are heavily reliant on nature remaining intact and climate change being kept to within the limits set out by the Paris Agreement and subsequent climate negotiations.