The combined coastline of G20 territories is 45 percent of the world’s harnessing the power of the Blue Economy, therefore, is vital given oceans’ crucial role in sustainable development goals. However, there are various challenges, such as a large financing gaps and lack of global standards and consensus on what constitutes ‘blue financing’. As investments are facing counteracting harmful subsidies and poor project bankability, there is little appetite for private, public, and philanthropic funding. The G20 can catalyze financing for Blue Economy transition by promoting targeted financial instruments such as debt-for-nature swaps, blue bonds and loans, conservation outcome based financing, and parametric insurance. Key recommendations include adopting robust standards and frameworks; strengthening oversight; eliminating regressive subsidies;
deploying innovative financial instruments; implementing cohesive policies and coordinated responses; increasing public investment; de-risking investments; incentivizing private finance, and increasing partnerships.