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Financing a sustainable ocean economy

Author

Listed:
  • U. Rashid Sumaila

    (University of British Columbia)

  • Melissa Walsh

    (Marine Conservation Finance Consulting and Ocean Finance Initiative, Asian Development Bank)

  • Kelly Hoareau

    (University of Seychelles)

  • Anthony Cox

    (Organization for Economic Co-operation and Development)

  • Louise Teh

    (University of British Columbia)

  • Patrízia Abdallah

    (Universidade Federal do Rio Grande—FURG)

  • Wisdom Akpalu

    (Ghana Institute of Management and Public Administration)

  • Zuzy Anna

    (SDGs Center Universitas Padjadjaran)

  • Dominique Benzaken

    (Australian National Centre for Ocean Resources and Security)

  • Beatrice Crona

    (The Royal Swedish Academy of Science)

  • Timothy Fitzgerald

    (Environmental Defense Fund)

  • Louise Heaps

    (WWF-United Kingdom)

  • Ibrahim Issifu

    (University of British Columbia)

  • Katia Karousakis

    (Organization for Economic Co-operation and Development)

  • Glenn Marie Lange

    (The World Bank)

  • Amanda Leland

    (Environmental Defense Fund)

  • Dana Miller

    (Oceana-Europe)

  • Karen Sack

    (Ocean Unite)

  • Durreen Shahnaz

    (Impact Investment Exchange (IIX))

  • Torsten Thiele

    (London School of Economics)

  • Niels Vestergaard

    (University of Southern Denmark)

  • Nobuyuki Yagi

    (University of Tokyo)

  • Junjie Zhang

    (Duke Kunshan University)

Abstract

The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

Suggested Citation

  • U. Rashid Sumaila & Melissa Walsh & Kelly Hoareau & Anthony Cox & Louise Teh & Patrízia Abdallah & Wisdom Akpalu & Zuzy Anna & Dominique Benzaken & Beatrice Crona & Timothy Fitzgerald & Louise Heaps &, 2021. "Financing a sustainable ocean economy," Nature Communications, Nature, vol. 12(1), pages 1-11, December.
    • Handle: RePEc:nat:natcom:v:12:y:2021:i:1:d:10.1038_s41467-021-23168-y
    DOI: 10.1038/s41467-021-23168-y
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    References listed on IDEAS

    as
    1. Hemer, Mark A. & Manasseh, Richard & McInnes, Kathleen L. & Penesis, Irene & Pitman, Tracey, 2018. "Perspectives on a way forward for ocean renewable energy in Australia," Renewable Energy, Elsevier, vol. 127(C), pages 733-745.
    2. Irene Basile & Jarrett Dutra, 2019. "Blended Finance Funds and Facilities: 2018 Survey Results," OECD Development Co-operation Working Papers 59, OECD Publishing.
    3. Alex Edmans, 2014. "Blockholders and Corporate Governance," Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 23-50, December.
    4. Sarah Harper & Marina Adshade & Vicky W Y Lam & Daniel Pauly & U Rashid Sumaila, 2020. "Valuing invisible catches: Estimating the global contribution by women to small-scale marine capture fisheries production," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-16, March.
    5. Mr. David Coady & Ian W.H. Parry & Nghia-Piotr Le & Baoping Shang, 2019. "Global Fossil Fuel Subsidies Remain Large: An Update Based on Country-Level Estimates," IMF Working Papers 2019/089, International Monetary Fund.
    6. repec:dau:papers:123456789/10980 is not listed on IDEAS
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    Cited by:

    1. Huang, Xinpeng & Meng, Fanshi, 2023. "Digital finance mitigation of ' resource curse ' effect: Evidence from resource-based cities in China," Resources Policy, Elsevier, vol. 83(C).

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    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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