finance & investment
The ocean economy is already equivalent in size to
the world's seventh largest economy
as global markets are reliant on the ocean and its industries to support
90 percent of global trade volume. The ocean economy is becoming increasingly central to global transitions in trade, infrastructure, energy, climate resilience and food security. A strong, large, and innovative Sustainable Ocean Economy (SOE) will be necessary to support the transition to green economies as demand increases for decarbonized shipping, green port infrastructure, offshore renewable energy, and sustainable food systems. The Ocean Centres will focus on addressing the environmental and social risks of this transition.
Key players in the SOE include financial institutions, insurers, re-insurers, ocean industries, governments, and development finance institutions. They play a central role in managing risks and capturing opportunities in this transition.
Scaling an ocean economy investment pipeline in the Global South is essential for SOE growth that strengthens local economies. In part, this can be done with concessional and impact financing through blended approaches and other risk-management methods. Collaboration with the private sector and local partner banks is needed to build capacity and awareness of sustainability approaches across relevant ocean sectors. Besides unlocking investment, access to technical support and capacity building must increase to generate a pipeline of investments that address risks and create positive outcomes for people and nature.
