Ocean Finance: Financing the Transition to a Sustainable Ocean Economy
U. Rashid Sumaila, Melissa Walsh, Kelly Hoareau, and Anthony Cox et al.
Sumaila, U.R., M. Walsh, K. Hoareau, A. Cox, et al. 2020. Ocean Finance: Financing the Transition to a Sustainable Ocean Economy. Washington, DC: World Resources Institute. www.oceanpanel.org/bluepapers/ocean-finance-financing-transition-sustainable-ocean-economy.
This paper examines how the next generation of financing mechanisms can support the transition to a sustainable ocean economy in an inclusive manner and how catalytic funds can be mobilised to finance that transition. This paper demonstrates the role insurance can play in accelerating the transition and how ocean-related subsidies contribute to or detract from the sustainable ocean economy. The paper identifies approaches to be phased out and new solutions that incentivise sustainable ocean management.