Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238514 
Year of Publication: 
2020
Series/Report no.: 
ADBI Working Paper Series No. 1157
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
The ocean is being jeopardized because of the adverse effects of climate change and human activities, such as marine plastic pollution, extreme weather events, sea level rises, and others. In addressing these ocean risks, ensuring sufficient finance to sustain the ocean economy is an ever-present challenge, particularly for those vulnerable regions, coastal communities, and small island developing states. Blue Finance, as a concept, is thus critical to ensure sustainability and conservation of the marine ecosystem and resources aligned with economic growth. Ocean sustainability has attracted global finance initiated by multilateral development banks and international institutions. This paper explores the interconnection between stakeholders among agents in the Blue Finance mechanism to illustrate incentives to increase private investment in addition to public donations in financing ocean health protection and boosting the blue economy. We then attempt to propose potential regulatory and institutional arrangements incorporating the concept of the blue financing principles in the context of the relevant legal regimes concerning marine governance both at the international and domestic levels. We further elaborate on the potentials of these legal and institutional arrangements to provide incentives for increasing private investment in marine development programs seeking economic growth and sustainability.
Subjects: 
Blue Finance
blue economy
climate change
ocean sustainability
ocean and coastal resilience
JEL: 
G28
K33
O44
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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