Environmental, social and governance (ESG) expert My-Linh Ngo, BlueBay Head of ESG Investment & Portfolio Manager, RBC BlueBay Asset Management discusses the importance of the blue economy in building a sustainable future through public debt markets.
In recent years, much attention has been placed on addressing deforestation, which drives climate change, biodiversity loss and natural resource degradation. While important, we believe attention and action also needs to be directed towards our marine and freshwater ecosystems which span oceans, seas, coasts, and freshwater resources such as lakes and rivers.
The ‘blue economy’
The ‘blue economy’ is a term which has emerged in recent years to describe the sustainable use of ocean and freshwater resources for economic growth, improved livelihoods and jobs, while preserving the health of these ecosystems. We believe that sustainable freshwater and marine management is critical in playing a key role in maintaining a stable climate. According to a study published by NOAA (National Oceanic and Atmospheric Administration) the ocean acts as a ‘carbon sink’ and absorbs about 31% of the CO2 emissions released into the atmosphere.
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