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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.
Nature Communications
|June 9, 2021
Summary
Financing the sustainable ocean economy is vital for climate regulation and livelihoods but faces a significant funding gap. Addressing key financial barriers is essential to mobilize public and private investments for ocean health and science.
Area of Science:
- Marine science and conservation
- Ocean economy and finance
- Climate change and environmental policy
Background:
- The ocean is critical for Earth's climate regulation and provides essential ecosystem services.
- Anthropogenic pressures and climate change pose significant threats to ocean health.
- A sustainable ocean economy necessitates robust financing mechanisms for sustained ocean health and governance.
Purpose of the Study:
- To identify key barriers hindering the financing of a sustainable ocean economy.
- To propose mitigation strategies for these financial barriers.
- To incentivize necessary public and private investments in ocean science and management.
Main Methods:
- Analysis of current financing vehicles for ocean health.
- Identification and categorization of barriers to sustainable ocean economy finance.
- Development of recommendations for investment mobilization.
Main Results:
- A substantial finance gap currently exists for the sustainable ocean economy.
- Key barriers include [specific barriers to be detailed in full study].
- Proposed strategies aim to align financial capital with ocean health goals.
Conclusions:
- Overcoming financial barriers is crucial for achieving a sustainable ocean economy.
- Targeted public and private investments are needed to support advanced ocean science and effective management.
- Adequate financing is fundamental for ensuring long-term ocean health and governance.
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