We may all love to be beside the seaside, as the old song claims, but we rarely recognise the oceans’ importance to our survival. They produce over half the planet’s oxygen and act as a huge carbon sink. Yet for decades, we have been continuously polluting them.
We need to develop a sustainable blue economy that protects our oceans. The blue economy is a treasure trove of solutions; 20 per cent of the green house gas reductions that need to meet the Paris Agreement will take place in four areas of the ocean.
To thrive, we need the right financing. If you take $2.8tn today and invest in four ocean areas (such as offshore wind or sustainably sourced fish) that 2.8 figure will give a net benefit of 15.5 trillion dollars by 2050.
The blue economy should be a fundamental priority.