The ocean today resembles a “failed state,” with a lack of rules, monitoring or enforcement, yet it covers 71% of the planet’s surface and delivers the majority of global ecosystem value. Given its scale and relevance for the global climate system, and to address mitigation and adaptation challenges cost- effectively, climate funding pathways need to address ocean health and governance challenges and to include significant ocean and coastal funding components.

The developed countries who are Parties to the UN Framework Convention on Climate Change (UNFCCC) made a commitment to mobilize $100 billion[1] per year by 2020 to address climate change needs of developing countries. This commitment requires public and private funding, including green bonds.

We highlight some of the significant and promising funding initiatives under way, and highlight potential further developments needed for Blue Finance to succeed.

[1] All amounts in US dollars.

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