A healthy ocean is one of the critical success factors in the global economy. Prior to covid-19, the value of the blue economy was an estimated US$2.5trn annually, equivalent to the GDP of the world’s seventh-largest economy. For the majority of banks, insurers and investors the seas are uncharted territory, but the tide is turning. The financial system is waking up to the risks of a business-as-usual approach and the opportunities to back a healthy ocean. Increased awareness and industry guidance will be crucial factors in driving the power of the financial community to replenish and rebuild the world’s largest ecosystem.
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