Blue Finance. Finance for the Blue Economy

Abstract

Finance field has to respond to increased new challenges of becoming and behaving more environmentally friendly. As pollution affects all kinds of environments, actions to diminish the pollution level, inhibit the effects of climate change, and expand the resilience of different communities are needed. Scholars attention regarding these dimensions increased more and more.

Specific goals-oriented finance should carry out these tasks. In this regard, blue economy, a freshly introduced concept to highlight the economic activity related to oceans, seas and coasts generate space for distinctive financial flows to support activities, initiatives and projects related to this field .

The life, health and economic well-being of millions of people depend on how activities are organized in oceans, seas or coastal areas. Relating the destination of financial funds to objectives that ensure the sustainable development of these areas confers a very important role on the field of blue finance. 

Innovative financial tools , like blue loans, blue bonds, meet a double targeted scope: enhance economic potential in the ocean, sea, and coastal environment and for people involved in and improve the health of the global water resources system.

The path for the net zero approach is tightly connected to replacing fossil oil energy with more environmentally friendly sources, like renewable energy. Seas and oceans are important sources of both traditional mining and renewable energy. In this sense, it is pivotal to limit the financial flows for projects that have a damaging impact on oceans and transfer more funds for a sustainable blue economy.