Closed Loop Ocean Funding Mechanism
(
Private sector
)
#OceanAction42231
Description
Asia, with a focus on investments to improve collection, sorting and recycling markets that
prevent plastics from entering the environment. Nearly half of the plastic that flows into the
ocean every year an estimated eight million metric tons escapes from waste streams in just
five rapidly developing economies in Asia.
The market-based investment strategy and supporting mechanism is modeled after CLPs proven
U.S. investment strategies for waste management and recycling. This mechanism aims to
catalyze investments from larger, less nimble actors such as development finance institutions by
demonstrating solutions and building a pipeline of projects. It expects to deploy a combination
of grants and concessionary capital to build recycling and waste management infrastructure as a
tool to demonstrate investment viability and maximize recycling profitability.
Effective waste management reduces plastics waste leakage, leads to healthier citizens, creates
jobs, and reduces emissions. It is also a critical component to making a circular economy
function, ensuring that materials can be recovered for reuse and recycling. This initiative aims to
solve the root causes of plastics in the ocean by investing in the systems and emerging
technologies needed to capture and transform waste into valuable commodities before it reaches
marine environments, while also providing tangible benefits to communities.
The initiative aims to share the results of its initial phase of work within the next year to help
build the field of investors looking to deploy capital into this market.
SDGS & Targets
Goal 14
Conserve and sustainably use the oceans, seas and marine resources for sustainable development
14.1
By 2025, prevent and significantly reduce marine pollution of all kinds, in particular from land-based activities, including marine debris and nutrient pollution
14.1.1
(a) Index of coastal eutrophication; and (b) plastic debris density
14.2
By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans
14.2.1
Number of countries using ecosystem-based approaches to managing marine areas
14.3
Minimize and address the impacts of ocean acidification, including through enhanced scientific cooperation at all levels
14.3.1
14.4
By 2020, effectively regulate harvesting and end overfishing, illegal, unreported and unregulated fishing and destructive fishing practices and implement science-based management plans, in order to restore fish stocks in the shortest time feasible, at least to levels that can produce maximum sustainable yield as determined by their biological characteristics
14.4.1
14.5
By 2020, conserve at least 10 per cent of coastal and marine areas, consistent with national and international law and based on the best available scientific information
14.5.1
14.6
By 2020, prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, eliminate subsidies that contribute to illegal, unreported and unregulated fishing and refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the World Trade Organization fisheries subsidies negotiation
14.6.1
Degree of implementation of international instruments aiming to combat illegal, unreported and unregulated fishing
14.7
By 2030, increase the economic benefits to Small Island developing States and least developed countries from the sustainable use of marine resources, including through sustainable management of fisheries, aquaculture and tourism
14.7.1
Sustainable fisheries as a proportion of GDP in small island developing States, least developed countries and all countries
14.a
Increase scientific knowledge, develop research capacity and transfer marine technology, taking into account the Intergovernmental Oceanographic Commission Criteria and Guidelines on the Transfer of Marine Technology, in order to improve ocean health and to enhance the contribution of marine biodiversity to the development of developing countries, in particular small island developing States and least developed countries
14.a.1
14.b
Provide access for small-scale artisanal fishers to marine resources and markets
14.b.1
Degree of application of a legal/regulatory/policy/institutional framework which recognizes and protects access rights for small‐scale fisheries
14.c
Enhance the conservation and sustainable use of oceans and their resources by implementing international law as reflected in United Nations Convention on the Law of the Sea, which provides the legal framework for the conservation and sustainable use of oceans and their resources, as recalled in paragraph 158 of "The future we want"
14.c.1
Number of countries making progress in ratifying, accepting and implementing through legal, policy and institutional frameworks, ocean-related instruments that implement international law, as reflected in the United Nations Convention on the Law of the Sea, for the conservation and sustainable use of the oceans and their resources
SDG 14 targets covered
| Name | Description |
|---|---|
| 14.1 | By 2025, prevent and significantly reduce marine pollution of all kinds, in particular from land-based activities, including marine debris and nutrient pollution |
Deliverables & Timeline
Resources mobilized
Partnership Progress
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Entity
SDGs
Geographical coverage
Ocean Basins
Communities of Ocean Action
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Contact Information
Stewart Harris, Director, Marine and Environmental Stewardship, Plastics Division