Standard Chartered announced at the World Economic Forum’s Annual Meeting 2025 in Davos that it has joined #BackBlue, a sustainable ocean finance commitment which aims to ensure a regenerating and sustainable ocean has a seat at the table in finance and insurance decisions.
Standard Chartered joins AXA, Deutsche Bank, WTW and Palladium which collectively bring USD$2,693 billion of assets under management under this blue finance umbrella.
Businesses supporting #BackBlue commit to taking specific actions including:
- Setting robust net zero commitments;
- Driving financial system policy change that is nature positive with a particular focus on the Ocean;
- Accelerating the transition towards a healthy and sustainable ocean;
- Joining the Ocean Risk and Resilience Action Alliance and/or the Sustainable Finance Community at the World Economic Forum.
“So much of our economic and social wellbeing, especially in our markets, is intertwined or dependent on our ocean. But while the global community is now much more aligned on the need to protect and restore our ocean, investment into a sustainable blue economy remains a ripple, when what we need is a wave,” said Marisa Drew, Chief Sustainability Officer, Standard Chartered. “In what has the potential to be a transformative year for the regenerative blue economy, we want to play our part in addressing the cumulative ocean finance gap and supporting the transition of the blue economy to sustainable practices.”
Supporting #BackBlue will help the delivery of:
- The UN Race to Resilience’s goals of building the resilience of four billion people from groups and communities who are vulnerable to climate risks by 2030;
- The World Economic Forum’s Ocean Action Agenda to catalyze public-private partnerships to accelerate ambitious solutions for a regenerative and sustainable ocean economy, and;
- ORRAA’s objective of securing $500m of investment into coastal and marine natural capital by 2030, to mitigate risk and build the resilience of at least 250 million people in communities adapting to climate change.
