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Financing a sustainable ocean economy
U Rashid Sumaila1, Melissa Walsh2, Kelly Hoareau3
1Fisheries Economics Research Unit, University of British Columbia, Vancouver, BC, Canada. r.sumaila@oceans.ubc.ca.
Abstract:
The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.
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