News & Resources

Greenbackers & the UN’s Sustainable Finance Initiative – Turning the Tide

Greenbackers are delighted to be involved with the UN Sustainable Finance Initiative as the second version of their Sustainable Blue Economy Finance Principles is developed.

Andrew Smith, Greenbackers Partner and Executive Director has been involved in this work from the beginning, having been close to the emerging Blue Economy for nearly ten years and helping to develop the successful first iteration, Turning the Tide. The new updated version of this practical guide expands on the sectoral scope by covering several further themes this year:

  • (Solid) waste management (including plastics)
  • Coastal defensive infrastructure (including Nature-based solutions)
  • The extractives transition (including oil & gas, (deep) seabed mining)

Andrew comments, “The Blue Finance Principles started life within the EU Commission; I was privileged to attend the launch event in Brussels and Greenbackers was among the first signatories. When responsibility for the Program moved to the UN it was natural for us to remain involved. The main aim of this work is to underline to financial institutions the opportunities within the Blue Economy and encourage increasing numbers of them to adopt the sector as part of their mainstream investing activity. The sustainable development of the Blue Economy is an essential element of us achieving Net Zero by 2050. We need to do all we can to encourage capital flows into this essential part of the worlds economy”

In this work, Greenbackers are joining organisations including ORRAA, WRI, ESAFON, OECD, Ocean Data Alliance, Oceana Climate Fund Managers, EIB Boston, Common AM, Indico Capital, ADB, The Nature Conservancy, WWF, Ocean Assets Institute, Greensquare Ventures, Aqua-Spark, American Hellenic, Hull Insurance, Investable OceansICMA, QD Bank China and Envirostrat.

For further information contact Andrew Smith at andrew.smith@greenbackers.com

29 June 2021