Including social equity considerations in investment decisions and processes is critical for the blue economy to deliver its full potential in addressing global challenges. In this episode, we look at the human dimension of the sustainable blue economy, focusing on the role of financial actors. Five experts from the academic, NGO and finance communities join the conversation, giving insights on how organisations can finance a blue economy that is sustainable, economically viable, and socially equitable.
Dennis Fritsch, Sustainable Blue Finance Lead at UNEP FI and Dorothee Herr, Oceans & Climate Change Manager at IUCN discuss ocean health, its role in regulating the global climate, its economic value and the role that financial institutions can play in restoring this vital ecosystem. In this compelling conversation, they also introduce us to UNEP FI’s Sustainable Blue Economy Finance Principles and IUCN’s Blue Natural Capital Financing Facility, helping financial institutions and project developers take part in a sustainable blue economy.
Sustainable Blue Economy
Guidelines for Blue Finance
ICMA Group| 2022 | This document identifies eligible blue project categories to guide IFC’s investments to support the blue economy, in line with the Green Bond Principles and Green Loan Principles. The market has been seeking guidance on project eligibility criteria, translating general Blue Economy Financing Principles, such as the Sustainable Blue Economy Principles and the Sustainable Ocean
Principles, towards guidelines for blue bond issuances and blue lending
Financing Nature-based Solutions for Coastal Protection
IUCN NL & Wolfs Company| 2022 | This market study explores blended finance mechanisms with carbon credits for financing nature-based solutions projects. It reviews the financing landscape for nature-based solutions, the risks associated with setting up projects, and the relevant stakeholders that invest in projects with blended finance models, providing practical guidelines on how to develop a business model for nature-based coastal protection projects.
Blue Growth and Blue Justice
Bennet et al., UBCOceans| 2020 | This paper reviews past evidence of the social injustices that can result from ocean-based development and highlights 10 injustices that can be produced by blue growth. It concludes that a commitment to ‘blue justice’ – including recognitional, procedural, and distributional concerns – needs to be at the core of the blue growth agenda.
Fishing and Aquaculture
World review of capture fisheries and aquaculture insurance 2022
Anrooy, Córdova, Japp, Valderrama, Gopal Karmakar, Lengyel, Parappurathu, Upare, Tietze, Costelloe, Zhang | 2022 | This world review of capture fisheries and aquaculture insurance presents the findings of five regional and four national reports conducted in 2020. This review contains information on the capture fisheries and aquaculture insurance market, the prevailing underwriting practices, perils covered, policies in force, risk management and claim handling procedures. Additionally, it offers a series of recommendations for increasing insurance service provision to the fisheries and aquaculture industries.
Investor Memo: The case for seaweed investment in Europe
Secretariat of Seaweed for Europe | 2022 | This paper aims to: (i) demonstrate that there is a solid pipeline of innovative seaweed companies in Europe; (ii) help investors better understand the seaweed space in Europe and (iii) demonstrate that the seaweed industry in Europe has already attracted investment and is open to a range of investments. It addresses public and private investors regardless their experience level in the blue economy.
Leverage points in the financial sector for seafood sustainability<a
Jouffray; Crona; Wassénius; Bebbington and Scholtens | 2019 | This research paper explores how financial institutions can contribute to seafood sustainability. Given the projected growth of seafood markets and the magnitude of social and environmental challenges associated with seafood production, this topic is of increasing concern and importance.
Coastal Risk Index
AXA XL Ocean Risk Initative| 2021 | The Coastal Risk Index (CRI) provides an innovative, interactive tool that allows users to assess coastal flood hazard and quantify the potential risk reduction benefits of marine ecosystems for coastal communities, national, regional and city planners, investors, risk managers, insurers and more. It models coastal flooding at different levels of severity in current conditions and projected to 2030 and 2050.
Reducing Caribbean Risk: Opportunities for Cost-Effective Mangrove Restoration and Insurance
The Nature Conservancy | 2021 | Explains the important role insurance companies play in coastal protection. Mangrove forests can help dissipate wave energy and lower flood risk. Mangroves are under threat from man-made factors and insurance can provide a unique market-based mechanism that can cost-effectively protect and restore these coastal habitats.
Insurance for Natural Infrastructure: Assessing the Feasibility of Insuring Coral Reefs in Florida and Hawaii
The Nature Conservancy | 2020 | A case of natural infrastructure in Florida and Hawai’i. Natural infrastructure like mangroves and coral reefs can reduce storm surge heights and aid in mitigating natural disasters. Parametric insurance can help provide a new source of funds to support post-event reef repair to support coastal risk reduction.