Financing a sustainable ocean economy

U. Rashid Sumaila; Melissa Walsh; Kelly Hoareau; Anthony Cox; Louise Teh; Patrízia Abdallah; Wisdom Akpalu; Zuzy Anna; Dominique Benzaken; Beatrice Crona; Timothy Fitzgerald; Louise Heaps; Ibrahim Issifu; Katia Karousakis; Glenn Marie Lange; Amanda Leland; Dana Miller; Karen Sack; Durreen Shahnaz; Torsten Thiele; Niels Vestergaard; Nobuyuki Yagi; Junjie Zhang

doi:10.1038/s41467-021-23168-y

Financing a sustainable ocean economy

U. Rashid Sumaila^*
, Melissa Walsh
, Kelly Hoareau
, Anthony Cox
, Louise Teh
, Patrízia Abdallah
, Wisdom Akpalu
, Zuzy Anna
, Dominique Benzaken
, Beatrice Crona
, Timothy Fitzgerald
, Louise Heaps
, Ibrahim Issifu
, Katia Karousakis
, Glenn Marie Lange
, Amanda Leland
, Dana Miller
, Karen Sack
, Durreen Shahnaz
, Torsten Thiele

Niels Vestergaard, Nobuyuki Yagi, Junjie Zhang

^*Corresponding author for this work

University of British Columbia (UBC)
Asian Development Bank
University of Seychelles
OECD
Universidade Federal do Rio Grande
Ghana Institute of Management and Public Administration (GIMPA)
Universitas Padjadjaran
Australian National Centre for Ocean Resources and Security
The Royal Swedish Academy of Science
Environmental Defense Fund
World Wide Fund for Nature
World Bank
Oceana-Europe
Ocean Unite
Impact Investment Exchange (IIX)
London School of Economics
The University of Tokyo
Duke Kunshan University

Research output: Contribution to journal › Journal article › Research › peer-review

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Abstract

The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

Original language	English
Article number	3259
Journal	Nature Communications
Volume	12
Issue number	1
Number of pages	11
ISSN	2041-1723
DOIs	https://doi.org/10.1038/s41467-021-23168-y
Publication status	Published - Dec 2021

Funding

We thank World Resources Institute for providing support as the Secretariat for the High-Level Panel for a Sustainable Ocean Economy. URS and LT also thank the OceanCanada Partnership, which is sponsored by the Social Sciences and Humanities Council of Canada (SSHRC). Finally, we want to thank Patricia Tiffany Angkiriwang for the design of Figs. 1, 3, 4, and 5. While numerous colleagues were very generous with their time and input, this report reflects the views of the authors alone, and does not necessarily reflect the views of the organizations or their countries of employment.

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10.1038/s41467-021-23168-yLicence: CC BY

Open Access VersionFinal published version, 1.72 MBLicence: CC BY

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Cite this

Sumaila, U. R., Walsh, M., Hoareau, K., Cox, A., Teh, L., Abdallah, P., Akpalu, W., Anna, Z., Benzaken, D., Crona, B., Fitzgerald, T., Heaps, L., Issifu, I., Karousakis, K., Lange, G. M., Leland, A., Miller, D., Sack, K., Shahnaz, D., ... Zhang, J. (2021). Financing a sustainable ocean economy. Nature Communications, 12(1), Article 3259. https://doi.org/10.1038/s41467-021-23168-y

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title = "Financing a sustainable ocean economy",

abstract = "The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.",

author = "Sumaila, \{U. Rashid\} and Melissa Walsh and Kelly Hoareau and Anthony Cox and Louise Teh and Patr{\'i}zia Abdallah and Wisdom Akpalu and Zuzy Anna and Dominique Benzaken and Beatrice Crona and Timothy Fitzgerald and Louise Heaps and Ibrahim Issifu and Katia Karousakis and Lange, \{Glenn Marie\} and Amanda Leland and Dana Miller and Karen Sack and Durreen Shahnaz and Torsten Thiele and Niels Vestergaard and Nobuyuki Yagi and Junjie Zhang",

note = "Funding Information: We thank World Resources Institute for providing support as the Secretariat for the High-Level Panel for a Sustainable Ocean Economy. URS and LT also thank the OceanCanada Partnership, which is sponsored by the Social Sciences and Humanities Council of Canada (SSHRC). Finally, we want to thank Patricia Tiffany Angkiriwang for the design of Figs. 1, 3, 4, and 5. While numerous colleagues were very generous with their time and input, this report reflects the views of the authors alone, and does not necessarily reflect the views of the organizations or their countries of employment. Publisher Copyright: {\textcopyright} 2021, The Author(s).",

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Sumaila, UR, Walsh, M, Hoareau, K, Cox, A, Teh, L, Abdallah, P, Akpalu, W, Anna, Z, Benzaken, D, Crona, B, Fitzgerald, T, Heaps, L, Issifu, I, Karousakis, K, Lange, GM, Leland, A, Miller, D, Sack, K, Shahnaz, D, Thiele, T, Vestergaard, N, Yagi, N & Zhang, J 2021, 'Financing a sustainable ocean economy', Nature Communications, vol. 12, no. 1, 3259. https://doi.org/10.1038/s41467-021-23168-y

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T1 - Financing a sustainable ocean economy

AU - Sumaila, U. Rashid

AU - Walsh, Melissa

AU - Hoareau, Kelly

AU - Cox, Anthony

AU - Teh, Louise

AU - Abdallah, Patrízia

AU - Akpalu, Wisdom

AU - Anna, Zuzy

AU - Benzaken, Dominique

AU - Crona, Beatrice

AU - Fitzgerald, Timothy

AU - Heaps, Louise

AU - Issifu, Ibrahim

AU - Karousakis, Katia

AU - Lange, Glenn Marie

AU - Leland, Amanda

AU - Miller, Dana

AU - Sack, Karen

AU - Shahnaz, Durreen

AU - Thiele, Torsten

AU - Vestergaard, Niels

AU - Yagi, Nobuyuki

AU - Zhang, Junjie

N1 - Funding Information: We thank World Resources Institute for providing support as the Secretariat for the High-Level Panel for a Sustainable Ocean Economy. URS and LT also thank the OceanCanada Partnership, which is sponsored by the Social Sciences and Humanities Council of Canada (SSHRC). Finally, we want to thank Patricia Tiffany Angkiriwang for the design of Figs. 1, 3, 4, and 5. While numerous colleagues were very generous with their time and input, this report reflects the views of the authors alone, and does not necessarily reflect the views of the organizations or their countries of employment. Publisher Copyright: © 2021, The Author(s).

PY - 2021/12

Y1 - 2021/12

N2 - The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

AB - The ocean, which regulates climate and supports vital ecosystem services, is crucial to our Earth system and livelihoods. Yet, it is threatened by anthropogenic pressures and climate change. A healthy ocean that supports a sustainable ocean economy requires adequate financing vehicles that generate, invest, align, and account for financial capital to achieve sustained ocean health and governance. However, the current finance gap is large; we identify key barriers to financing a sustainable ocean economy and suggest how to mitigate them, to incentivize the kind of public and private investments needed for topnotch science and management in support of a sustainable ocean economy.

UR - https://doi.org/10.1038/s41467-022-29418-x

U2 - 10.1038/s41467-021-23168-y

DO - 10.1038/s41467-021-23168-y

M3 - Journal article

C2 - 34103490

AN - SCOPUS:85107800803

SN - 2041-1723

VL - 12

JO - Nature Communications

JF - Nature Communications

IS - 1

M1 - 3259

ER -

Financing a sustainable ocean economy

Abstract

Funding

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