27 October 2020
The blue economy is an attractive opportunity for banks and insurance companies, yet some players are rushing to invest without first adopting sustainability principles that can avoid repeating the wrongs of the past, says world-renown ecologist Enric Sala.
In this short yet instructive video, Sala outlines the three main threats affecting the ocean, and what investors need to consider when assessing risk factors and planning long-term financial strategies.
Sala suggests that numerous fishing companies are currently not sustainable and he proposes alternatives for ocean-related investments such as:
- Offshore wind
- Sustainable aquaculture
- Sustainable marine tourism
UNEP FI is currently working with banks, insurers and investors through its Sustainable Blue Economy Finance Initiative to redirect financial flows and accelerate the transition to a sustainable blue economy, helping to rebuild ocean prosperity, restore biodiversity and regenerate ocean health.
The initiative is currently building Guidance for the financial industry, focused on a sustainable approach to shipping, ports, aquaculture, coastal tourism and renewable energy sectors. The guidance will be based on the sustainable blue economy finance principles, the gold-standard to invest in the ocean economy. Learn more about how your organisation can get involved: click here.
Enric Sala is a National Geographic Explorer-in-Residence, and one of the leaders of National Geographic’s Mission Blue program, a global marine conservation initiative.