Riding the Blue Wave : Applying the Blue Economy Approach to World Bank Operations
In close collaboration with international institutions, development partners, and client countries, the World Bank is leading the effort to develop and operationalize the concept of the blue economy by focusing on the integration and sustainability...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099655003182224941/P16729802d9ba60170940500fc7f7d02655 http://hdl.handle.net/10986/37212 |
| Summary: | In close collaboration with
international institutions, development partners, and client
countries, the World Bank is leading the effort to develop
and operationalize the concept of the blue economy by
focusing on the integration and sustainability of different
oceanic sectors. The aim is to limit their impacts on ocean
health, taking into account the additional risks posed by
climate change. The blue economy approach to ocean
development therefore aligns well with the World Bank’s twin
goals of reducing extreme poverty and enhancing shared
prosperity. The main objective of this document is to
provide guidance on how to apply a blue economy lens to Bank
operations. To this end, it aims to: ensure that the World
Bank’s operations around oceanic activities are developed
with a view to improving the necessary integration between
different economic sectors, both on land and at sea, and
avoiding unnecessary impacts on ocean health; and identify
means to scale up blue economy activities, including through
new sources of innovative blue finance. To achieve these
goals, two related streams of work are identified: one
focused on promoting an integrated approach to the
sustainable development of oceanic sectors, and the other
focused on increasing blue financing. |
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