The meeting took place at the initiative of the European Commission, the World Wide Fund for Nature (WWF) and the Prince of Wales' Charities International Sustainability Unit (ISU) with the joint ambition of safeguarding the health of our ocean, whilst understanding what approaches are needed for the ocean to sustainably support livelihoods, food security and jobs well into the future. According to projections from the Organisation for Economic Co-operation and Development (OECD), by 2030 the output of the ocean economy, roughly €1.3 trillion globally, could more than double. Karmenu Vella, Commissioner for Maritime Affairs and Fisheries, commented: "I firmly believe that future investments in the blue economy – whether by public or private institutions – should ensure environmentally and socially sustainable outcomes and a science-based management of ocean and coastal resources. The active involvement of financial institutions in contributing towards healthy and productive ocean will be indispensable." In the coming decade, sectors such as marine energy, aquaculture, tourism and transport could offer significant investment opportunities but we need to determine how economic development in the ocean be undertaken whilst ensuring that the health of the ocean’s assets are sustained and improved. The discussion is part of the Commission’s wider efforts to engage with the private sector and NGOs with a view to generating commitments on sustainable ocean use for the 'Our Ocean 2017' conference, hosted in Malta by HRVP Mogherini and Commissioner Vella, from 5 to 6 October 2017.