BLUE Economics

Blue Economics is concerned with the financial aspects of the use — and abuse — of the ocean. We aim to quantify the real cost of destructive fishing and develop new ways of directing capital at scale towards ocean protection and restoration. The unit supports the delivery of Blue Marine’s domestic and international projects and pushes forward systemic change through thought leadership on innovative finance.  Above all, Blue Economics aims to work with the financial sector to develop innovative fiscal mechanisms that we hope will mobilise the quantum of capital needed to protect the ocean and restore it to health.  

The scale of the climate and nature challenge we face in our oceans requires creative thinking around conservation finance. Since its inception, Blue Economics has developed a wealth of knowledge, and supported the financial sustainability of Blue Marine’s projects, as well as contributed to the global conversation around ‘the blue economy’.   

A core element of our work has been developing innovative biodiversity credits. We have worked closely with Blue Marine’s Solent Seascape team, whose project has been selected as a pilot for the developing Plan Vivo standard, making it one of the first marine projects to produce biodiversity credits verified under this scheme. We are working to develop a market around credits like these, engaging with the private sector to re-frame the way it values nature, and drive home the true value of biodiversity.  

Elsewhere in the UK we have worked on how to remove damaging fishing gear from marine protected areas. In collaboration with Economics for the Environment Consultants, we have produced reports on how to assess a ‘just transition’ to lower-impact gear, or away from fishing entirely. The topic has been developed through workshops with relevant stakeholders, and will provide evidence to help policymakers better protect UK waters. 

In 2024, we continued to work on credit development in the Solent. In addition, we were able to push forward the biodiversity credit market through the publication of a report titled ‘Credit where credit’s due: Identifying the core principles of a high-integrity biodiversity credit market’. Following the launch, we hosted a markets workshop with key private-sector stakeholders to discuss the most significant challenges   facing the emerging nature market. As we work to establish a market for marine biodiversity credits, we are expanding our development work into our projects in Greece, the Maldives, and Turkey.  

Additionally, together with the Science Innovation and Impact unit, we have developed a concept around marine protected area (MPA) impact bonds that will help secure financing for fully and highly protected MPAs aiming to achieve good management. 

Internationally, we continue to provide support and knowledge exchange on sustainable finance for Blue Marine projects in Namibia, Turkey and the Maldives.