Blue finance: How new investments are protecting the ocean economy
(2024)
In Finance Middle East
By Beatriz Valero de Urquia
November 11, 2024
From blue bonds to ocean conservation funds, sustainable finance initiatives are focusing on future-proofing marine ecosystems.
What if there were no more fish in the sea? In 2022, a team of researchers found that, without a significant reduction in greenhouse gas emissions, approximately 90% of all marine life will be at risk of extinction by 2100.
Over twenty thousand species could be lost, while human lives and livelihoods would be at great risk. In the words of oceanographer Dr Sylvia Earle, “No ocean, no life”.
Enter blue finance. Much like “green” investments, “blue” initiatives allocate funds towards projects that focus on water and wastewater management, marine ecosystem conservation and restoration, sustainable shipping, eco-friendly tourism and offshore renewable energy, among others. Not only are these strategies aimed at reducing carbon emissions and helping businesses meet their ESG targets; they also contribute to boosting and protecting the ocean economy, becoming vital for the health and wellbeing of the world at large.
