Emerging Role of Blue Finance in the Asia Pacific Region
The e-workshop intends to explore the emerging financial opportunities in the ocean economy and deliberate on mainstreaming best practices and geographic/market specific financing tools for sustainable ocean finance.
On 19 October 2021, 12:30 PM to 2:30 PM IST
The Energy and Resources Institute (TERI) in partnership with Konrad-Adenauer-Stiftung RECAP (KAS) is organising an e-workshop titled "Emerging Role of Blue Finance in the Asia Pacific Region" on Ocotber 19, 2021 from 12:30 PM to 2:30 PM (IST). The workshop aims to inspect the emergence of financing opportunities in the ocean economy within the Asia Pacific region. It further aims to deliberate on mainstreaming of the blue finance market, current issues, best practices and geographic/market specific financing tools, and initiatives for a sustainable ocean finance.
Given the Asia-Pacific region is an amalgamation of several island countries, the potential for blue economy in the area is quite significant, however it has received very little traction over the years. Official Development Assistance (ODA) and philanthropy still remain the major sources of funding within the segment. Several challenges persist for the establishment and flourishment of the blue finance market within the region including lack of investment-readiness, bankable projects, low private sector investments, low level of awareness and capacity building, and inadequate understanding of potential risks in the sector.
As the threat of climate change continues to loom large on the planet, it has now become even more critical for the Asia-Pacific region to significantly mainstream its presence within the sustainable segment of the ocean economy. This movement will bolster investment sentiment within the industry, whilst also enhancing quality of life along with supporting local coastal communities and the national economies at large.