The ocean stores one-third of humankind’s excess carbon and 90% of excess heat generated by those emissions. It also harbors many promising possibilities to address one-fifth of the carbon emissions gap needed to keep the planet on track towards 1.5℃ by mid-century. Yet, SDG 14 for Life Below Water is the least funded of the development goals, receiving $1.92 billion annually, compared to an estimated $175 billion needed. And despite covering 70% of the planet, the ocean barely registers attention in global climate conversations and conferences.
As the United Nations Secretary General noted following the release of the recent IPCC report, “Our world needs climate action on all fronts — everything, everywhere, all at once.” To meet this challenge, we must stop overlooking and underfunding one of our greatest allies in addressing climate change: the ocean.
The ocean is the underdog in the climate sector, harboring a range of promising solutions while too often being overlooked and underfunded.
Advancing ocean-based solutions with speed and scale will require an acceleration of collaboration and awareness across a wide range of stakeholders, including businesses of all sizes, nonprofit organizations, academia, and government. It will also require a commitment of blended capital from the public, private, and philanthropic sectors at all stages of development.
To elevate the ocean as a climate solution, drive interest, innovation, and investment in the sector, and scale efforts around the world, Only One will launch the Blue Climate Collective this fall. At its core, the Blue Climate Collective will feature a cross-sector membership of hundreds of businesses, government, and civil society stakeholders working to advance ocean-based climate solutions outlined in the High Level Panel report.
The Collective will support members and foster collaboration through a series of engagement opportunities, including regular briefings and convenings. Beginning in the fall, the Collective will develop and distribute content highlighting the work of members to drive interest and investment into the sector. Future efforts will focus on marshaling blended capital from the public, private, and philanthropic sectors at all stages of development to help solutions scale.
For questions or to join the Blue Climate Collective, please email [email protected].
