United NationsDepartment of Economic and Social Affairs Sustainable Development

World Bank Group

Check Against Delivery
Björn Gillsäter
Manager, World Bank New York Office
Remarks at the Preparatory Meeting for the Ocean Conference
February 16, 2016
Discussion on the “Call for Action”
Thank you for the opportunity to offer recommendations toward the Call for Action. The World Bank proposes 3 priority areas for your consideration:
First, undertake a comprehensive valuation of all marine resources and corresponding ecosystem services. This will help countries gain a better understanding of the economic, social and cultural importance of their oceans. It would internalize the natural capital of the ocean in decision-making processes, and allow for better monitoring of the economic sustainability of their states’ economic development, notably in the use of these natural assets.
Second, provide for improved, diversified and resilient livelihoods, and food security. This should be done through an inclusive, people-centered approach that effectively includes all societal groups, especially women, youth, local communities, and marginalized and underrepresented groups.
Third, provide innovative and responsible finance to contribute to building the blue economy. This should be pursued by deploying targeted financial instruments – such as blue bonds, insurance and debt-for-adaptation swaps –to leverage investments and ensure that they maximize a triple bottom line in terms of financial, social and environmental returns.
We look forward to a successful Conference in June. Thank you, Mr. Co-facilitator.