News Release: HAMILTON, Bermuda – The environmental advisory firm Finance Earth is partnering with the Bermuda Ocean Prosperity Programme (BOPP) to support the development of Bermuda’s Blue Economy Strategy.
Finance Earth will provide strategic thinking for the development of a Blue Investment Facility in Bermuda to capitalize and support blue economy projects and ocean conservation, ultimately supporting the long-term sustained development of Bermuda’s blue economy sector. The objective of the Blue Investment Facility will be to provide the governance and resources for the diversification of national revenue and strengthen the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and continued ecosystem health.
Finance Earth will outline an
appropriate governance and management structure that harnesses Bermuda’s exceptional financial
services sector, as well as how to design avenues of coordination with the Bermuda Government Ministries tasked with finance, business development, planning, ocean renewable energy, climate change impacts, and management of the marine environment, particularly as it relates to implementing Bermuda’s marine spatial
plan. Finance Earth will also provide examples of the types of initiatives in practice that could be supported by the Blue Investment Facility and how the Facility could be capitalized.
The BOPP Steering Committee will release a draft of the overarching Blue Economy Strategy for public review in early-2022.
“I believe the ocean will play a key role in Bermuda’s ability to recover from the COVID-19 pandemic,” said Deputy Premier and Minister of Home Affairs Walter Roban. “The wealth of our marine resources support our fishermen, bring in tourists from around the world, and contribute to our health and well-being in countless ways. And, like any resource, careful management of their use and investment for the future is key to long term prosperity.
“To that end, I am thankful for Finance Earth for partnering with BOPP in support of Bermuda’s Blue Economic Strategy. I also thank BOPP for their commitment and dedication to supporting a thriving Blue Economy, protecting these resources for the future, and making the most out of their potential for sustainable economic growth, which is a core pillar of their program.”
Bermuda Ocean Prosperity Programme is an inclusive initiative to support sustainable growth of our ocean economies while maintaining the health of the ocean from now into the future. Led by the Government of Bermuda, in collaboration with the Bermuda Institute of Ocean Sciences and the Waitt Institute, this partnership has vowed to identify sustainable economic growth possibilities for ocean industries like fishing and tourism, as well as create a binding marine spatial plan to sustainably manage Bermuda’s ocean environment. The partnership also commits to preserving 90,000 square kilometers (50,000 square miles) of Bermuda’s waters as fully protected fisheries replenishment zones to support ocean livelihoods well into the future.
About Finance Earth
Finance Earth is an environmental impact investment boutique, providing financial advisory and fund management services across the natural and built environment. Based in the UK, they specialize in a range of market research, investment, cost modelling, structuring, strategy, and fund delivery services. They currently manage over £50 million of blended or aligned social and environmental impact funds and have designed over £500 million of impact investment
structures around the world.