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In today's climate, where the ocean faces unprecedented threats from pollution, overexploitation, and rising temperatures, securing investment in marine conservation is crucial. This year stands as a pivotal moment; with events like the UN Ocean Conference and the upcoming Blue Economy Finance Forum providing platfor catalyze action towards a sustnable ocean economy.
Karen Sack, Executive Director of the Ocean Risk Resilience Action Alliance ORRAA, highlights this urgency in her commentary published in La Tribune on June 7th. ORRAA is an alliance that bridges finance and insurance sectors with governments, NGOs, and stakeholders from the Global South to drive investments into nature-based solutions for coastal resilience.
Karen argues that by 2030, we m to activate at least $500 million for this purpose while securing the resilience of over 250 million climate-vulnerable coastal communities. She lays out three key steps:
Proof-of-Concept and Scalability: Invest in projects that showcase a promising business model with tangible returns. This involves empowering local entrepreneurs, start-ups, and businesses to create scalable solutions through incubation and acceleration programs.
Foundation Building: Financial institutions like commercial banks, local and international capital markets, Development Finance Institutions DFIs, Multilateral Development Banks, and the insurance sector must align their portfolios with sustnable blue economy goals. They need to provide efficient support for long-term investments.
Systemic Change: Central banks, financial regulators, and major financial institutions should integrate natural capital risks into balance sheets through taxonomies and reporting standards. This encourages prudent investment practices that consider environmental impacts.
As the year 2025 approaches, Karen emphasizes it as a critical turning point for climate finance when we must mobilize millions, billions, and trillions towards ocean conservation. She envisions this 'super year' as an opportunity for global financial sectors to play a pivotal role in shifting our maritime trajectory towards sustnability.
By fostering collaborations across sectors and leveraging these upcoming events, we have the potential to transform today's challenges into opportunities for innovation and resilience. Karen's call-to-action underlines the need for collective action from finance professionals worldwide who can utilize their expertise and resources to catalyze a capital market for ocean health.
The journey towards a sustnable future begins with recognizing the value of our oceans, investing in nature-based solutions, and working together as global partners. Let us seize this moment to elevate discussions on ocean conservation into concrete actions that benefit both marine ecosystems and coastal communities.
As we embark upon a transformative journey towards sustnable ocean management, Karen Sack, Executive Director of the Ocean Risk Resilience Action Alliance ORRAA, outlines an urgent call to action in her article published on La Tribune June 7th. This alliance is spearheading efforts that link finance and insurance sectors with governments, NGOs, and partners from the Global South, driving investments into nature-based strategies for coastal resilience.
With a target of $500 million by 2030, ORRAA bolster the resilience of over 250 million climate-vulnerable coastal populations. Karen outlines three strategic pillars:
Scaling Proven Solutions: Investing in projects with compelling businessthat promise profitable returns while addressing environmental issues. This involves empowering local communities, entrepreneurs, and startups through incubation programs for scalable solutions.
Evolving Financial Institutions: Commercial banks, capital markets, Development Finance Institutions DFIs, Multilateral Development Banks, insurance companies, and other financial entities must integrate sustnable blue economy principles into their portfolios. They should facilitate efficient long-term investments to support this transition.
Systematic Integration of Risk: Central banks, financial regulators, taxonomies, and major financial institutions need to integrate natural capital risks and environmental impacts into reporting standards and balance sheets. This promotes responsible investment practices that consider the health of our oceans.
As we approach 2025, Karen underscores this year as a 'super year' for climate finance where millions, billions, and trillions can be harnessed to benefit ocean conservation efforts. She urges global financial sectors to embrace their pivotal role in creating a capital market for ocean health.
By collaborating across sectors and leveraging upcoming events like the UN Ocean Conference and the Blue Economy Finance Forum, we have an opportunity to convert current challenges into opportunities for innovation and resilience building. Karen's plea emphasizes the necessity of collective action from finance professionals who can utilize their expertise and resources to drive change in marine conservation practices.
This is not merely a call to conserve our oceans; it’s an invitation to transform them into a bastion of life by investing responsibly and innovatively. Let us unite in this pursuit, turning today's debates into actionable steps that safeguard both ocean ecosystems and coastal communities for future generations.
This article is reproduced from: https://oceanriskalliance.org/opinions/how-to-create-a-new-wave-of-investment-into-the-ocean-while-theres-still-time/
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New Wave of Ocean Health Investment Finance for Recovery in Marine Conservation Mobilizing Capital Markets to Save Oceans Scaling Solutions for Coastal Resilience 2025: Super Year for Ocean Climate Financing Integrating Risk Management for Blue Economy