The “blue economy” is all the economic sectors, ranging from food production to energy and tourism, with a link to the ocean.
It’s worth an estimated US$24 trillion, and people are increasingly turning to the ocean for new opportunities and resources. The problem is that unsustainable activities are harming the natural environment that provides the foundations for all these economic benefits. That’s why in 2018 WWF and our partners came up with Sustainable Blue Economy Finance Principles that provide a framework for investment and development decisions. We are delighted that the Asian Development Bank, which last year committed US$5 billion to sustainable marine investment in the Pacific, has decided to adopt these principles. But our efforts continue to ensure they are adopted by others involved in development finance – helping to restore ocean health while supporting sustainable economic development.