Sustainable Blue Economy Finance Principles
The Sustainable Blue Economy Finance Principles are provided by the United Nations Sustainable Blue Economy Finance Initiative in 2018 and are the world’s first global framework to provide sustainable blue economy financing for banks, insurance, and asset management companies. The Sustainable Blue Economy Financial Principles were jointly developed by the European Commission, the World Wildlife Fund, World Resource Institute, and European Investment Bank.
There are 14 principles of United Nations Sustainable Blue Economy Finance Initiative, which are:
| Principle | Contents |
| Protective | The signatory will take measures to restore, protect or maintain the diversity, productivity, resilience, core functions, values, and overall health of marine ecosystems |
| Compliant | The signatory will support investments, activities, and projects that are in line with international, regional, and national frameworks, which are the foundation of sustainable marine development |
| Risk-aware | The signatory will adjust their decisions based on economic, social, and environmental values to reflect the latest risks and opportunities in business activities |
| Systemic | The signatory will confirm the systematic and cumulative impacts generated in the value chain |
| Inclusive | The signatory will support projects to improve local stakeholders and address issues arising from the affected parties |
| Cooperative | The signatory will cooperate with other financial institutions to share ocean knowledge and sustainable blue economy practice experience |
| Transparent | The signatory will provide information on the environmental, economic, and social impacts of investment, financing, and insurance activities, and strive to report progress |
| Purposeful | The signatory will directly engage in business related to United Nations Sustainable Development Goal 14 (Conserve and sustainably use the oceans, seas and marine resources for sustainable development), with special attention to ocean governance |
| Impactful | The signatory will provide marine environmental, social, and economic benefits for contemporary and future generations while avoiding nagative impacts |
| Precautionary | The signatory will assess the environmental and social risks of the action and adopt precautionary principles in the absence of scientific data |
| Diversified | The signatory will pay attention to the importance of small and medium-sized enterprises in the blue economy and provide diversified financial instruments to cover more sustainable projects |
| Solution-driven | The signatory will focus on innovative solutions that have a positive impact on marine ecosystems and promote their application |
| Partnering | The signatory will cooperate with the public and private sectors to accelerate the achievement of sustainable blue economic development |
| Science-led | The signatories will strive to research and share scientific information and data related to the marine environment |
Reference:
Sustainable Blue Finance – United Nations Environment – Finance Initiative
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