Sustainable Ocean Alliance

Mobilizing Private Markets, Innovation, and Youth Engagement for Ocean Health and Climate Action

By: Daniela V. Fernandez, Founder and CEO, Sustainable Ocean Alliance

The Role of the Ocean

The ocean stands as humanity’s most formidable ally in the battle against the climate crisis.  According to the United Nations, it captures 25% of all carbon dioxide emissions and soaks up 90% of the excess heat generated by these emissions. Furthermore, it is vital in maintaining the Earth’s climate balance and supplies half of the oxygen we inhale, while also serving as a key protein source for more than 3.1 billion people across the globe.

However, the vitality of our oceans is under siege due to the escalating effects of climate change, including ocean acidification, global warming, rising sea levels, loss of biodiversity, and coral bleaching. To combat these challenges, a wave of innovation is rising from startup entrepreneurs, youth ocean leaders, and grassroots advocates. They are pioneering both nonprofit and commercial ventures aimed at restoring ocean health—initiatives that urgently need financial backing to scale and disrupt existing industries.

Understanding the Sustainable Blue Economy

The blue economy encompasses a broad range of activities related to the ocean and coastlines, including shipping, fisheries, renewable energy, tourism, infrastructure, and the management of waste. Within this broad spectrum, the sustainable blue economy emerges as a crucial niche focused on redefining these sectors to balance economic growth with the preservation and restoration of marine environments. The United Nations Environmental Programme (UNEP) identifies this burgeoning sector as comparable to the seventh largest economy globally, with a current valuation of around $2.5 trillion USD. This figure is expected to soar to at least $3 trillion USD by 2030. Furthermore, the

sustainable blue economy is not only a powerhouse of economic potential but also a significant employment generator, with projections indicating a jump from 30 million to 40 million jobs. The economic and social benefits of propelling the sustainable blue economy forward are clear and compelling.

Philanthropy and Funding the Sustainable Blue Economy

At the 2024 World Economic Forum Annual Meeting in Davos, Switzerland, John Kerry, the former U.S. Secretary, highlighted a concerning trend: philanthropy’s contributions to climate-related causes remain stagnant at 2%. The 2023 UN State of Finance for Nature report further illuminates the disparity in investments, showing that while $7 trillion USD is funneled into nature-adverse activities annually, only $200 billion USD is allocated to nature-positive solutions—with a scant 9% dedicated to ocean sustainability. Notably, the United Nations Sustainable Development Goal 14 (SDG14), aimed at conserving and sustainably using the oceans, seas, and marine resources, consistently receives the least long-term financial support.

To bridge the significant funding gap necessary to safeguard our oceans, estimated at $175 billion USD annually, family offices are encouraged to adopt ocean sustainability as a key component of their philanthropic and investment strategies, thereby contributing to the momentum of the sustainable blue economy.

Opportunities to Invest in Sustainable Blue Economy Startups

The horizon for investing in the sustainable blue economy teems with potential, spanning from budding enterprises within the Sustainable Ocean Alliance’s (SOA) Ecopreneur Network to mature ventures. These startups, encompassing various stages of growth, are in need of forward-thinking philanthropists and investors to nurture their pioneering solutions.

While early-stage startups often capture the spotlight, it’s crucial to recognize that established solutions also demand capital infusion to bridge the critical transition beyond the “valley of death” and achieve global scalability. In 2023, Sustainable Ocean Alliance set a new benchmark by allocating a record $1.3 million in donations from family offices and other sources to support ocean entrepreneurs (known as ecoprenuers) and their solutions—marking the largest investment in a single year.

Highlighted below are some of the startups within Sustainable Ocean Alliance’s portfolio actively seeking funding, representing a range of sectors ripe for investment:

– Ocean data and AI innovations: Plan Blue, Stream Ocean, uWare Robotics.

– Sustainable shipping and transportation solutions: Navier, Photon Marine.

– Ecosystem protection and restoration efforts: ecoSPEARS, Reefgen.

– Alternatives to plastic and packaging, focusing on circularity and recovery: LOLIWARE, B’ZEOS, Dispatch Goods, Ichthion, Novoloop.

– Sustainable aquaculture and alternative seafood options: AKUA, Ittinsect, microTERRA.

Supporting Youth Engagement in the Sustainable Blue Economy

Fostering a dynamic and sustainable blue economy ecosystem requires a global, cross-sectoral, and intergenerational commitment to nurturing a pipeline of viable ocean projects and investment opportunities.

Investors must also keep equity in mind, channeling capital for startups and grassroots projects in the Global South, where communities are most impacted by climate change. Sustainable Ocean Alliance’s Grants Program awards mentorship, resources, and financial backing to initiatives in these regions and globally, having supported over 320 global projects to date. This approach stimulates local economies and diversifies the ocean solutions landscape, unlocking vast potential that would otherwise remain overlooked and untapped.

Society needs to dedicate a seat at the table to young leaders, as they are the ones who will inherit the planet in whatever state it is left by current decision-makers, and they hold the key to our future. The power of young ocean advocates is evident in our ongoing campaign against deep-sea mining, which aims to preserve the ocean’s vital deep-sea ecosystem. This campaign is particularly crucial as extractivist corporations and pro-mining nations seek to exploit critical minerals from the ocean depths, potentially causing untold environmental damage.

Last year marked a significant milestone for Sustainable Ocean Alliance as we became the first youth-led organization to receive official Observer Status at the International Seabed Authority (ISA), the governing body that regulates mineral resources in international waters. This achievement enables us to expand our presence at upcoming sessions of the ISA council, further amplifying the voices of young leaders in critical discussions about the future of our oceans and advocating for sustainable practices that protect our planet for generations to come.

As we navigate through the turbulent waters of the planetary crisis, the sustainable blue economy emerges not just as a beacon of hope but as a testament to the power of unity, innovation, and visionary leadership. The ocean’s boundless capacity to heal, sustain, and nurture life on Earth is a reminder of the urgent responsibility we share—to protect this invaluable resource for future generations. By harnessing the collective strength of private markets, groundbreaking technological advances, and the indomitable spirit of youth, we stand on the cusp of a transformative era. Together, we can turn the tide of the climate crisis, charting a course towards a sustainable and just future for all.

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