Abstract
The ocean covers more than 70% of Earth’s surface and plays a crucial role in providing ecosystem goods and services that sustain life and support the well-being of billions of people worldwide (Teh and Sumaila 2013; FAO 2018; Hoegh-Guldberg et al. 2019; IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) 2019). The ocean holds many economic opportunities, and many experts are recognising the need for a coordinated and sustainable approach to its use. Ocean finance can play a vital role in supporting sustainable development of the ocean economy by directing investments to sustainable development pathways that minimise ocean risks and maximise social equity, human well-being and environmental health.
Originally published in:
Sumaila, U.R., M. Walsh, K. Hoareau, A. Cox, et al. 2020. Ocean Finance: Financing the Transition to a Sustainable Ocean Economy. Washington, DC: World Resources Institute. www.oceanpanel.org/blue-papers/ocean-finance-financing-transition-sustainable-ocean-economy
Reprint by Springer International Publishing (2023) with kind permission
Published under license from the World Resources Institute
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Abbreviations
- ABNJ:
-
Areas beyond national jurisdiction
- ADB:
-
Asian Development Bank
- CFF:
-
Climate Finance Facility
- CZMT:
-
Coastal Zone Management Trust
- ESG:
-
Environmental, social and governance
- EU:
-
European Union
- GDP:
-
Gross domestic product
- IIX:
-
Impact investment exchange
- ISB:
-
IIX sustainability bond
- IUU:
-
Illegal, unreported and unregulated
- MPA:
-
Marine protected area
- NGO:
-
Non-governmental organisation
- ODA:
-
Official development assistance
- OECD:
-
Organisation for Economic Co-operation and Development
- PSI:
-
Principles for Sustainable Insurance
- SDG:
-
Sustainable development goal
- SME:
-
Small and medium enterprise
- SOE:
-
Sustainable ocean economy
- TCFD:
-
Task Force on Climate-related Financial Disclosures
- TNC:
-
The Nature Conservancy
- UN:
-
United Nations
- UNEP:
-
United Nations Environment Programme
- WWF:
-
World Wide Fund for Nature
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Sumaila, U.R. et al. (2023). Ocean Finance: Financing the Transition to a Sustainable Ocean Economy. In: Lubchenco, J., Haugan, P.M. (eds) The Blue Compendium. Springer, Cham. https://doi.org/10.1007/978-3-031-16277-0_9
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