Once seen as too vast to harm, the ocean is now being considered as too broken to fix. The lack of direct action and investment to protect and restore it risks its future.
The ocean generates our oxygen, regulates our climate and produces our food. However, the imbalance between what it gives and what we take is becoming increasingly difficult to maintain.
Around half of the oxygen produced on Earth today comes from the ocean.1 It is not only the planet鈥檚 lungs, but also its biggest carbon sink, absorbing 25% of CO鈧� emissions and 90% of excess heat generated by these emissions.2 The ocean also provides nearly 20% of the world's per capita animal protein.3
Pressures on the ocean, including plastic waste, acidification, tourism, pollution from shipping, and overfishing are all increasing. Two million tons of plastic are estimated to enter the ocean every year, while overfishing has increased to nearly 40% from 10% in the last half a century.4
On June 8th each year, the world comes together to celebrate and reflect on the ocean. This year, the theme of World Oceans Day5 is 鈥淲onder鈥� and asks us to consider how wondrous the ocean is, and how we can better sustain what sustains us. If the ocean is more carefully protected and managed, it will recover.
Business can play a critical role in the race to restore harmony between humans and nature, including the ocean. Nature related investment finance is estimated to be between US$154-166 billion per year, but this still primarily consists of public funds.6
Business nature-positive strategies can help unlock finance, subsidies, and investment to support wider conservation and restore ocean ecosystems. Recent research shows that the investment benefits of ocean protection schemes, more sustainable shipping and other ocean dependent industries can be five times higher than the costs involved.7
By positioning nature at the heart of what they do through location-specific and cost-benefit analyses, organizations can introduce a bluer dimension to their business operations and help secure the ocean鈥檚 future.