The Ocean as a Solution to Climate Change: Five Opportunities for Action

Actions across all five ocean-based climate areas of intervention have the potential to reduce emissions by up to 4 billion tonnes of CO2 e per annum in 2030, and by more than 11 billion tonnes of CO2 e per annum in 2050

Dive Deeper
Commissioned by the High Level Panel for a Sustainable Ocean Economy

Climate change poses stark risks to the health of the ocean and to the realisation of a prosperous and sustainable ocean economy. Acidification and rising ocean temperatures are negatively impacting important industries such as fishing and tourism, as well as the well-being of coastal populations. There is an urgent need to reduce greenhouse gas emissions and limit further temperature rise.

Although at risk, the ocean is also central to reducing global greenhouse gas emissions. To highlight the ocean’s important role as a solution to global climate change, the Ocean Panel commissioned this report to underscore that a healthy ocean is critical to achieving global targets to limit climate change, to identify new insights and to inform the report’s call to action.

Notably, the research found that ocean-based climate action can play a much bigger role in shrinking the world’s carbon footprint than was previously thought, and it could deliver up to one-fifth (21% or 11 GtCO2e) of the annual greenhouse gas (GHG) emission cuts needed in 2050 to limit global temperature rise to 1.5°C.

Five areas of ocean-based climate action are considered in this report:

  1. Ocean-based renewable energy, including offshore wind and other energy sources, such as wave and tidal power
  2. Ocean-based transport, including freight and passenger shipping
  3. Coastal and marine ecosystems, including protection and restoration of mangroves, salt marshes, seagrass beds, and seaweeds
  4. Fisheries, aquaculture, and dietary shifts away from emission intensive land-based protein sources (e.g., red meat) towards low carbon ocean-based protein and other sources of nutrition
  5. Carbon storage in the seabed.

Within each area, this report assesses the set of individual mitigation options that could be undertaken, along with the technology developments and policies required to advance implementation

Download the full report here

 

 

Download the full report here

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“This investment will enable Ocean 14 Capital to deliver the innovation needed to meet our climate and sustainability goals. The sustainable blue economy is now a key focus for us and this is a rallying cry for start-up and scale-up marine innovators globally to come forward and help avert the crisis in our oceans and return them to a healthy thriving state.”

Jean Castellini Minister of Finance and Economy of Monaco

“There has never been a more important time to invest in the oceans as a critical way to protect our planet and combat climate change. I am excited to back Ocean 14 Capital and their vision to make a significant positive impact in the blue economy.”

Niklas Zennström

“Builders Vision Fund is excited to be part of Ocean Capital Fund I’s first close. Builders is committed to developing the ecosystem of businesses focused on ocean health and sustainability. We believe the team at Ocean14 Capital have the drive and commitment to lead this impact-focused growth fund for oceans to meaningful market investments that can improve the health of our oceans.”

Peter Bryant Senior Program Officer, Builders Initiative

“Impact investments are an important part of Chr. Augustinus Fabrikker’s investment strategy and with the investment in Ocean 14 Capital Fund I we will total ten impact investments. Our interest in Ocean 14 Capital stems from the importance we see in ensuring sustainable business practices in the ocean to foster future prosperity for this vital part of our ecosystem alongside the unique capabilities we have identified within the team. For this reason, we are delighted to become a cornerstone investor in this exciting venture.”

Claus Gregersen Chief Executive Officer, Chr. Augustinus Fabrikker

“In line with SDG14, our key objective through the Flourishing Ocean’s initiative is to return our ocean to a healthy thriving state. To facilitate this, we are committed to ending overfishing; ending the dumping of plastic, heat and CO2 in our ocean; supporting the sustainable use of ocean resources; conserving key habitats; and facilitating world class research. This is why we are supporting a new venture where the Ocean 14 Capital Fund will invest in projects aligned to our objectives.”

Dr. Tony Worby Chief Executive Officer, Minderoo Foundation’s Flourishing Ocean