Ocean Finance: Financing the Transition to a Sustainable Ocean Economy
U. Rashid Sumaila, Melissa Walsh, Kelly Hoareau, Anthony Cox, Patrízia Abdallah, Wisdom Akpalu, Zuzy Anna, Dominique Benzaken, Beatrice Crona, Timothy Fitzgerald, Louise Heaps, Katia Karousakis, Glenn-Marie Lange, Amanda Leland, Dana Miller, Karen Sack, Durreen Shahnaz, Louise Teh, Torsten Thiele, Niels Vestergaard, Nobuyuki Yagi, Junjie Zhang
Abstract
Abstract The ocean covers more than 70% of Earth’s surface and plays a crucial role in providing ecosystem goods and services that sustain life and support the well-being of billions of people worldwide (Teh and Sumaila 2013; FAO 2018; Hoegh-Guldberg et al. 2019; IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) 2019). The ocean holds many economic opportunities, and many experts are recognising the need for a coordinated and sustainable approach to its use. Ocean finance can play a vital role in supporting sustainable development of the ocean economy by directing investments to sustainable development pathways that minimise ocean risks and maximise social equity, human well-being and environmental health.