For the health and longevity of our oceans, it's essential to establish a resilient and environmentally-friendly economy.

The United Nations Environment Programme's Sustainable Blue Economy initiative is spearheading a global effort to manage human activity across ocean, coastal, and inland water systems. This initiative is crucial in the pursuit of Sustainable Development Goal 14, which aims to protect oceans, and transform maritime sectors to promote sustainable use of ocean resources.

However, achieving this goal faces a significant challenge: the goal receives the least investment of all 17 Sustainable Development Goals. To deliver these targets, a massive investment is needed. A mix of financial instruments and greater collaboration across sectors is essential to drive the transition to a sustainable blue economy.

Threats to ocean health and resilience are numerous, including overfishing, biodiversity loss, marine litter, invasive species, pollutants, and rising sea-surface temperatures causing ocean acidification. Recognizing our oceans and marine ecosystems as assets is key to securing adequate funding for the blue transition.

The UN has declared this the Ocean Decade, calling on people and organizations worldwide to identify, generate, and use critical knowledge to manage the ocean sustainably. The sustainable blue economy encompasses all ocean-related activities, from traditional sectors like fisheries and tourism to emerging industries like renewable energy and ocean observation.

The sustainable blue economy seeks to preserve marine ecosystems, improve livelihoods of coastal communities, and mitigate climate change. Billions of people, particularly in low-income and developing countries, depend on marine ecosystems. Ambitious targets must be set for sustainable maritime transport and tourism, coastal community resilience, integrated maritime governance, and sustainable seafood production in support of Sustainable Development Goal 14.

Several high-level conferences are scheduled this year, including the UN's dedicated Ocean Conference in June and the climate-focused COP30 in November. These conferences aim to mobilize governments, industries, scientists, and civil society to accelerate the conservation and sustainable use of the ocean.

The World Bank's PROBLUE fund has brought together $200 million from donor countries in support of the blue economy. Successful applications of the Sustainable Blue Economy initiative have been seen in countries like Trinidad and Tobago and Antigua and Barbuda.

Blue bonds, like the one issued in 2018 by the Seychelles, could catalyze transformative financing in this area and reduce the debt burden on vulnerable countries. Organizations like the Sustainable Development Solutions Network Global Climate Hub can provide policymakers with scientific recommendations and tools based on research and models.

Despite the progress, there are still gaps in our understanding. For instance, the available search results do not provide information on the governments or organizations involved in the "Maritime Global Climate Hub" project nor on its practical development.

As we embark on this decade dedicated to the ocean, it is crucial that we continue to collaborate, innovate, and invest in the sustainable blue economy. By doing so, we can secure a future where our oceans remain healthy, resilient, and capable of supporting the livelihoods and well-being of billions of people.