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For nearly two decades, our team has been at the forefront of Conservation Finance, specializing in developing accounting methodologies for Natural Capital Assets. Through our work, we've witnessed firsthand how these funding mechanisms positively impact both nature and the communities that depend on these resources. However, one glaring issue has become apparent: the stakeholders are not in agreement on the way forward?
The reality is that different sectors have traditionally operated in silos. Scientists conduct research, policymakers draft regulations, academics theorize, financiers fund, and industries extract resources. These players often work in isolation, sometimes even at odds with one another. Even within the scientific community, collaboration is not always seamless. This fragmented approach is outdated, and if we are to successfully build a Regenerative Blue Economy, we must start viewing the challenge as a complete and interdependent ECOSYSTEM.
A Real-World Experiment in Collaboration
During the Regenerative Ocean Week in Tanzania, ODISEA’s team put this idea to the test. ODISEA gathered a panel of experts from diverse backgrounds—non-profits, conservation, finance, and more—to discuss an innovative blue finance model that our team has been refining for the past 12 years. None of the panelists had seen the model before the presentation, and we deliberately sought their candid, real-time feedback in front of a live audience.
As expected, the discussion was controversial. The consensus was that the model was complicated and complex—so much so that each panelist attempted to fit it into the traditional conservation finance framework. While the proposed model contains recognizable elements from past financial models, it aims to correct their shortcomings, striving for a truly regenerative economic model for our oceans.
This exercise, though challenging, was enlightening. It showed us not only where we stand in the journey toward a Regenerative Blue Economy but also how far we still must go. The first step? Defining what is a Regenerative Blue Economy.
The Challenge of Definition
One of the biggest takeaways from the event was that the definition of a Regenerative Blue Economy varies depending on who is defining it. Non-profits, academics, financiers, governments, and industry leaders each see the concept through the lens of their own sector, making it incredibly difficult to establish a unified approach.
However, there is one fundamental truth that we can all agree on: No amount of NGOs, concerned citizens, or research initiatives alone can protect natural resources from the overwhelming financial power of extractive industries. Without substantial and sustainable finance, conservation efforts will always be at a disadvantage. If this reality is difficult to accept, then one might be operating from a place of privilege rather than pragmatism.
Finding Common Ground
If we can acknowledge this shared reality, then the next step is to set aside preconceived notions and genuinely assess what is working—and what is not—across different paradigms. Here’s what we’ve identified:
- Finance or Private sector- is highly effective at mobilizing large amounts of capital, but blue finance is still considered a niche product and therefore perceived financial risks require mitigation.
- Industry-is proficient at generating substantial revenue streams, but fails to account for negative externalities.
- Non-profits- ensure that financial resources are directed toward social and environmental needs, but fail to measure their impact and provide efficient results.
- Science and Academia- excel at measuring the impact of financial investments on ecosystems and communities, but lack of open and shared data limits scalability.
-Forward-thinking governments have exceled at marine spatial planning that considers all stakeholders but fail in the implementation and enforcement of these very regulations (often due to lack of finance).
The key, then, is not to force a single sector to carry the burden of change. Instead, we must leverage the strengths of each and create a system that integrates them into a cohesive, regenerative model.
Moving Forward
The path to a Regenerative Blue Economy requires a shift in mindset. It demands a departure from siloed thinking and a willingness to embrace aspects of the economic models that got us in this predicament in the first place. By acknowledging and utilizing the best aspects of finance, industry, non-profits, and academia, we can build an economic model that is not just sustainable but truly regenerative.
This journey is not easy, nor is it comfortable. But if we are serious about protecting our oceans and ensuring the well-being of the communities that depend on them, we must be willing to challenge existing paradigms and forge a new path forward—together.
Ellen Myers
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