More than three billion people relying on the ocean for their livelihoods, and the vast majority live in developing countries. Ocean-based industries, such as fisheries and tourism, are critical providers of employment and income. Too often, however, climate change, pollution and insufficient consideration for environmental and social sustainability are putting the ocean’s resources at risk, hampering the socio-economic benefits they could deliver for future generations.
Expanding ocean-based sectors in a sustainable manner and investing in new ones, such as offshore renewable energies and marine biotechnologies, can boost job creation, energy supply, food security and infrastructure. This investment is especially critical now as developing countries’ ocean-based sectors, such as tourism and sea transport, face hard economic impacts from the COVID-19 pandemic. How can the international community help bridge the gaps in knowledge, innovation, capacity and finance that prevent developing countries from growing such sustainable ocean economies? We work with them and their development partners to find the answers.
The ocean economy is a new economic frontier that can help developing countries boost employment, reduce poverty and enhance food security. At the same time, climate change, pollution, overfishing, and other pressures from human activity are pushing the health of oceans to a tipping point. If not addressed, this will put at risk the long-term economic benefits that the ocean can deliver as well as the resources on which all life on the planet ultimately depends.
Integrating environmental and social sustainability into the ocean economy is thus critical to ensuring a healthy ocean and the world’s future prosperity. Developing countries need to have access to the knowledge, innovations, capacity and financial resources needed for harnessing the benefits of sustainable ocean economies. Sustainable Ocean for All contributes to achieve this objective.
The project includes:
Learn more in the new OECD report "Sustainable Ocean for All: Harnessing the benefits of sustainable ocean economies for developing countries” which includes the latest trends in select ocean based industries, policy instruments to promote ocean sustainability and the first review of development finance and development co-operation practices in support of more sustainable ocean economies.
Small Island Developing States (SIDS) stand at a critical juncture on their paths to sustainable development. We provide statistical data and policy analysis to help them access concessional finance and other resources tailored to their circumstances and need.
As part of the Sustainable Ocean for All initiative, the OECD has begun to quantify and track global development finance for the ocean economy, providing estimates of the share that is sustainable. This platform is based on the OECD DAC Creditor Reporting System (CRS) and makes this data accessible for the period 2013-18.
This platform includes estimates on:
• Official Development Assistance (ODA) for the ocean economy;
• ODA for the sustainable ocean economy;
• ODA for land-based activities that reduce negative impacts on the ocean;
• Private finance mobilised via ODA for the ocean economy.