Sustainability: Unlocking Opportunities for Blue and Green Economies

Background

By 2030, ocean-based industries are expected to significantly outpace global economic growth, potentially reaching over $3 trillion in value according to the OECD. The growth will be driven by sectors such as offshore wind, tidal and wave energy, aquaculture, cruise tourism, maritime surveillance, and marine biotechnology.

Small Island Developing States (SIDS), often referred to as 'large ocean states' due to their extensive exclusive economic zones (EEZs), stand to benefit considerably. These nations, stewarding vast ocean spaces, have begun to initiate innovative mechanisms to leverage their ocean resources for economic and climate resilience. Notable examples include Seychelles' launch of the world's first sovereign blue bond, Palau’s National Marine Sanctuary twice the size of Mexico, Belize's debt conversion for ocean conservation and Barbados’ green economy roadmap. These efforts underscore the importance of the blue economy in promoting sustainable development, economic growth, and climate resilience in SIDS.

The session aims to explore blue and green economy initiatives tailored to SIDS, focusing on economic growth, impact investments, innovation and disruption opportunities, and addressing key themes including aquaculture, renewable energy and financing.

Access to the concept note

Format

The session will comprise a panel discussion in the form of a moderated conversation. The session will include a Q&A with participants.

Expected Outcomes

• Recognition of the potential for economic diversification through sustainable use of land and ocean resources in island nations.
• Understanding of investment and finance opportunities in blue and green economic sectors including for SMEs and startups in SIDS.
• Sharing of actionable strategies for private sector involvement in blue and green initiatives in SIDS.
• Insights into effective policy measures for SIDS governments and business support organisations that can drive private sector engagement in the blue and green economies of SIDS. Partners Session 1 is co-created with the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, and the United Nations Foundation.

Partners

Session 1 is co-created with the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, and the United Nations Foundation.