Maritime Affairs

World Ocean Summit: Sustainable Finance Principles launched to guide investments in the maritime economy

World Ocean Summit: Sustainable Finance Principles launched to guide investments in the maritime economy

World Ocean Summit: Sustainable Finance Principles launched to guide investments in the maritime economy

09/03/2018

Today, at the World Ocean Summit taking place in Mexico, the Commission launched in partnership with the European Investment Bank, the Prince of Wales's International Sustainability Unit and WWF Sustainable Blue Economy Finance Principles.

These are voluntary principles that will guide responsible investments to counter the many stresses that oceans are subject to, from overfishing and rising sea levels to plastic pollution.

Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella said: “I am delighted to see the progress in the delivery of this important commitment made at the 2017 Our Ocean Conference hosted by the EU. The importance of having clear guidelines supporting the sustainable development of the blue economy is now widely recognised, and this is encouraging.”

Today's launch is in line with the Commission's Sustainable Finance Action Plan, presented yesterday as part of the Capital Markets Union's efforts to connect finance with the specific needs of the European economy to the benefit of the planet and our society. It is also one of the key steps towards implementing the historic Paris Agreement and the EU's agenda for sustainable development.

Earlier this year, the EU High-Level Expert Group on Sustainable Finance had recommended in its final report that the Sustainable Blue Economy Finance Principles be adopted and implemented by the finance community. As a result, initial commitments have already been made by Althelia Ecosphere, Aviva Investors, the BPCE Group, Seventure Partners, Willis Towers Watson and the World Bank. In signing up, investors and organisations commit to mainstream these principles in all new investment decisions.

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