9 March 2018: The fifth World Ocean Summit discussed the role of business in a sustainable ocean economy. At the Summit, a group of partners launched principles for sustainable fisheries investments, which aim to scale up investments in the sector and promote progress towards the Sustainable Development Goals, especially SDG 14 on life below water.

The Economist hosts the annual World Ocean Summit, which convened from 7-9 March 2018, in Playa del Carmen, Mexico. Over 500 leaders from the private sector, governments and civil society attended the event, which focused on delivery and accountability on the world’s ocean agenda, including the implications of SDG 14 for businesses operating in the ocean.

Participants discussed a range of issues related to the sustainable management and use of the ocean, including the blue economy, sustainable seafood, marine debris, plastic pollution, and ocean governance. The event explored opportunities for using innovative financing and technologies to enhance scientific understanding of the ocean as well as to support a sustainable ocean economy.

At the Summit, the Economist Group announced the launch of the World Ocean Initiative, an effort to harness the momentum of the Summit into a year-round programme on the ocean.

The World Ocean Initiative will harness the momentum of the Ocean Summit into a year-round programme.

The Environmental Defense Fund (EDF), Meloy Fund, and Encourage Capital launched guidelines for investing in global fisheries. The ‘Principles for Investment in Sustainable Wild-Caught Fisheries’ aim to encourage new capital for fishery investments, align this capital with responsible management, and build investors’ confidence that environmental and social sustainability of fisheries will generate a return on investment. The Principles are also designed to advance the SDGs and align with the UN Principles of Responsible Investment and the International Finance Corporation (IFC) Performance Standards. Over 15 investment funds, foundations and other groups have endorsed the principles.

The Government of Abu Dhabi, United Arab Emirates will host the 2019 World Ocean Summit.

During the summit, Belize announced it will expand its no-take zones from 3% to over 10%, by the end of 2018. [Event Website] [CMS Press Release on World Ocean Summit] [Announcement of 2019 World Ocean Summit] [EDF Press Release on Fisheries Principles] [Principles for Investment in Sustainable Wild-Caught Fisheries]