OECD work in support of a sustainable ocean
Valuing ocean natural capital is important but only part of the picture.
Financing and investment for a sustainable ocean
Defining and measuring “sustainable” ocean finance remains a challenge The diversity of ocean economic sectors means that there are no simple answers to questions such as how much finance is already flowing to sustainable activities, how much is required to protect ocean health, and which
Overcoming the ocean health challenge, while meeting
instruments are best suited to scale up and reallocate
the needs of the billions who depend on the ocean for
finance. Evidence on global finance for the ocean from
livelihoods, will require important changes in how finance
various sources – private and public, domestic and
flows to ocean-related economic activities. Growth in
international – is still scarce and scattered. It is currently
ocean investment, especially in times of recovery from
not possible to have a comprehensive view of how much
economic crises, will not be sustainable in environmental
finance reaches ocean-based sectors and what percentage
and social terms by default. The characteristics of
of that can be considered sustainable. Even defining what
several ocean sectors – such as physical remoteness
is “sustainable” varies across ocean sectors, meaning that
and challenging traceability – may instead mean that
the policy tools, regulation and financial instruments
investment is more likely to flow to less sustainable
needed to make sustainable activities competitive and
activities, i.e those that are environmentally destructive
investable are also quite varied. Unlike climate change
and economically short-term. The challenge is therefore
mitigation, there is no single metric or externality – such as
significant, requiring scaling up investment in sustainable
a tonne of carbon dioxide equivalent – that can be priced
ocean activities and reallocating capital away from harmful
or even easily defined.
or unsustainable activities.
Diverse ocean sectors require diverse approaches to financing Some ocean industries are dependent on the natural capital of the ocean, such as wild-catch fishing and marine
38 . OECD WORK IN SUPPORT OF A SUSTAINABLE OCEAN
