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The new paper outlines a comprehensive set of recommendations for aligning global finance with the health and sustainability of the ocean economy, providing a high-level roadmap for governments, and providing suggestions for financial institutions and investors to drive systemic change. It further explores how finance can be a powerful enabler of ocean-based solutions through innovative financing mechanisms, risk-reduction strategies, and new governance frameworks that promote long-term value creation.
Despite the ocean’s importance, the report finds that financial flows to the sustainable ocean economy fall far short of what is needed. An estimated $550 billion per year is required to meet global ocean sustainability goals, yet less than 1% of official development assistance and philanthropic funding is currently directed toward ocean-related initiatives.
The paper was launched during the event “From Vision to Investment – Financing the Sustainable Ocean Economy” where participants discussed the importance of creating enabling policy environments, with a focus on integrating ocean priorities into national budgets and fiscal policies. Representatives from Ocean Panel countries Australia, Chile and Fiji shared financial perspectives on Sustainable Ocean Plans and the challenges facing Small Island Developing States (SIDS) and the need for concessional capital as well as capacity-building support for SIDS and Least Developed Countries (LDCs) was highlighted.
The report also examines existing financial tools, such as blue bonds and debt-for-nature swaps, and notes that while promising, these instruments remain underutilised. Improved ocean literacy, the development and collective adoption of a global blue finance taxonomy, and greater inclusion of local communities in finance strategies were also highlighted during the discussion.
Read the full working paper here: https://oceanpanel.org/publication/finance-for-the-sustainable-ocean-economy/
