The global financial system is intimately linked to the ocean, says Peter Thomson of the United Nations

28 October 2020

We cannot have a healthy planet without a healthy ocean, and in any global discussion on biodiversity the ocean must be front-and-centre, says Peter Thomson, the United Nations Secretary-General’s Special Envoy for the Ocean. 

In his message to the finance industry, Thomson delivers a passionate plea for the preservation of the ocean and stresses its important role in our economy and welfare. 

The global financial system is intimately linked to the ocean through financing and ensuring of marine industries like shipping and energy and seafood and tourism, he adds.

In this video Thomson highlights recent initiatives such as the World Bank’s PROBLUE multi-donour trust fund and the Asia Development Bank’s $5 Billion action plan for a healthy ocean and sustainable blue economy, among many other international programmes aimed at implementing SDG 14’s principles of sustainability.

The UNEP Finance Initiative hosts the sustainable blue economy finance principles,  providing a gold standard framework for ocean financing and investment. 

Applying the sustainable economy principles will ensure that ocean finances always deliver with sustainability at its core so that profitability goes hand-in-hand with environmental and social stewardship. 

“I call on financial institutions to take action and for a solid start I urge them to sign the sustainable blue economy finance principles” adds Thomson in support of UNEP FI’s Sustainable Blue Economy Finance Initiative

UNEP FI’s ground-breaking blue economy initiative promises 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. 

Find out more about how your organisation can get involved: click here.

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