Support Development Of Blue Economy Strategy

The Bermuda Ocean Prosperity Programme [BOPP] has partnered with the environmental advisory firm Finance Earth “to support the development of Bermuda’s Blue Economy Strategy.”

A spokesperson said, “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.”

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