Ocean 14 Capital Fund I, an impact fund focusing exclusively on funding sustainable solutions for the multi-trillion-dollar blue economy, has just announced it has reached a final close at just over €201m. The big question everyone is asking- which projects will be getting a slice of the pie. According to The Global Impact Investing Network the current size of the global impact investing market is estimated to be around $USD500 billion, with more than 1300 investment organisations and over 425 available investment products. That's a lot of wealth that can and should trickle down to the most deserving projects.
While there is no absolute definition of Blue economy impact investing, Ocean Purpose Project identifies five key criteria:
• Due Diligence: the rigor an investor has to investigate claims by industry leaders, independent audits or reviews performed to confirm facts or details of projects and not rely on hearsay or family/political connections .
• Intentionality: an investor’s intention to have a positive social or environmental impact through investments.
• Return expectation: impact investments are expected to generate a financial return or, at minimum, a return of capital.
• Range of return expectations and asset classes: target financial returns range from below market to risk-adjusted market rate and can be made across asset classes.
• Impact measurement: the investor is committed to measure and report the social and environmental performance and progress of underlying investments.
“Marine Economy” was first mentioned in 1979 but “Blue Economy” became popular in 2010 following an article by Kildow and McIlgorm stating “The importance of estimating the contribution of the oceans to national economies”. Investors play an important role in the blue economy, as they hold the economic power to provide the essential capital to fund ocean-friendly Chris Gorell Barnes, co-founder of Ocean 14 Capital said:
“Oceans are the critical life-support system for life on earth. The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people.
If it’s not functioning it will be game over for humanity. Institutions are now awakening to the fact that we need to overhaul the capital market to stand a chance of averting the climate crisis.”
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#ImpactInvesting #BlueEconomy #BlueFinance #ClimateAction #SocialImpact
Chief Executive Officer | Technology Development, Real-Estate Development, JV
1moI like that you are willing and able to partner with other reputable foundations.