Financialisation and the blue economy

A series on Conservation finance

Conservation finance has become dominant in the efforts to avert the climate crisis and reverse biodiversity loss. This rise of conservation finance is significant for marine fisheries as it is a central component of the “blue economy” concept. While the proponents present an ambitious vision, understanding the jargon is difficult. There is a pressing need for clarity over what the conservation finance industry is saying and doing.

 

Understanding the conservation finance industry

Financialisation is considered to be the fundamental dynamic that contributes to inequalities in the world, while also a threat to democracy because it transfers the ownership and control of so much to a small group of financial investors and institutions, with the only goal of maximising profits.

Photo: Meritt Thomas.

Debt-for-nature swaps : The Belize Blue Bond

TNC agreed a debt-for-ocean swap in Belize. This is part of an “audacious plan” of other debt swaps in other countries. However, the swaps carry controversies: they reflect the trend of financialisation of conservation, and hence are worrying for those that depend on the oceans for their livelihoods.

BEFI: How to destroy the oceans responsibly

The Blue Economy Finance Initiative has been celebrated in international conferences about blue economy, however, this article highlights the inherent weaknesses of voluntary guidelines in mitigating the threats financial investors pose to the destruction of the planet.

The implications for ocean governance of Gabon debt swap

TNC’s agreed to a debt-for-ocean swap with Gabon, involving US$500 million worth of debt. In exchange, Gabon commits to protect 30% of the ocean. We explore the problems with this deal in terms of debt justice and of ocean governance, and develops its implications for coastal communities.

 

DO YOU KNOW…

 

whether blue growth is compatible with securing small-scale fisheries?

 

All publications on conservation finance and blue growth