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SOLUTIONS FOR THE OCEAN / THE BLUE ECONOMY | 35
KEYFACT COSTA RICA IS DOING ITS BIT
By expanding the Cocos Island National Park and creating a marine protected area, this Latin American
country has increased its protected waters from 3% to 30%.
“If we want to be carbon neutral and positive
for nature by 2050, all countries need to
take action now and to consolidate their
conservation objectives quickly, even before
2030, because this is the decisive decade.”
Andrea Meza Murillo, Costa Rica’s Minister
NEW TOOLS of Environment and Energy
The panellists turned the spotlight on new blue finance
tools, including the Sea Change Impact Finance Fa- “With its 1,300 km of coastline, Tunisia is seeking
cility, the Taskforce on Nature-Related Financial Dis- to intensify and support any cooperation
closure, and the Network for Greening the Financial aimed at improving the protection of common
System. Crédit Suisse mentioned a sustainable deve- ecosystems, in order to meet sustainable
lopment bond focused on the ocean; an Ocean En- development goals, as well as ensuring the
gagement fund invested in listed securities. It is also wellbeing of the populations concerned.”
a matter of debt-for-nature swaps and blue bonds. Leila Chikhaoui, Tunisia’s Minister for the
Targeting different categories of investor, these ins- Environment
truments have all been developed with partners from
conservation and international development organi-
sations. “The banking system dates back to the Industrial
Revolution. We need to do better. It is not a
Last, the session showed the way in which financial question of creating an umpteenth system,
players can enter the ocean space in partnership because we can integrate the ocean into
with conservation organisations. New financial instru- the work that has already been done on the
ments and investment strategies are more than ever climate in a large matrix."
necessary for a blue and sustainable future. Elsa Palanza, Global Head of Sustainability
and ESG, Barclays, United Kingdom
■ 8.5 billion dollars: the risk value for
the investment sector if ocean activity
continued with no change,
IN ■ the shift to a sustainable development
trajectory could reduce this risk by 5 billion
FIGURES dollars,
■ 66% of companies listed on the Stock
Exchange are exposed to risks related to
declining ocean health.
(sources: WWF, 2021)
