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ADB Ocean Financing Initiative
The Oceans Financing Initiative supports ADB developing member countries to catalyze financing for projects that will help protect and restore marine ecosystems and promote sustainable blue economies.
Dr Walsh has been contracted as the Blue Finance Specialist to ADB to develop the Ocean Financing Initiative strategy and implementation plan.
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High-Level Panel for Sustainable Ocean Economy
The High Level Panel for a Sustainable Ocean Economy is a unique group of world leaders from around the globe committed to developing, catalyzing and supporting solutions for Ocean health and wealth in policy, governance, technology and finance.
Read more about the High Level Panel
Final Paper: Blue Paper #9: Ocean Finance: Financing the Transition to a Sustainable Ocean Economy
Dr. Walsh co-leads the Ocean Finance paper for the High Level Panel. The paper examines how the next generation of financing mechanisms can support the ocean transition in an inclusive manner and how catalytic funds can be mobilised to finance that transition. It demonstrates the role insurance can play in accelerating the transition; and how ocean-related subsidies contribute to or detract from the sustainable ocean economy, recommending approaches to be phased out and new solutions that incentivise sustainable management.
Citation: Sumaila, U.R., M. Walsh, K. Hoareau, A. Cox, et al. 2020. Ocean Finance: Financing the Transition to a Sustainable Ocean Economy. Washington, DC: World Resources Institute. www.oceanpanel.org/blue- papers/ocean-finance-financing-transition-sustainable-ocean-economy.
Pelagic Marine Protected Area Finance
Pelagic habitats - the open ocean beyond continental shelves - contain high levels of biodiversity, migratory species, and commercially-important species. Protection of pelagic areas through pelagic marine protected areas (PMPA) is likely to be vital to maintaining ocean health and human well-being. Funding the establishment and implementation of PMPAs, however, is particularly complex due to the remoteness, dynamic and interconnected ecosystems, complex political and governance arrangements, and general lack of revenue-creating sectors that are the
foundation of nearshore MPA finance such as tourism.
The objective of the project is to raise understanding - for The Pew Charitable Trusts and PMPA practitioners - about the costs and finance strategies appropriate for PMPAs.
Funder: The Pew Charitable Trust
Research Team: Dr Melissa Walsh, Dr Rhona Barr, Camilla Sundberg
Conservation Finance Alliance - Coastal and Marine Working Group
The Conservation Finance Alliance (CFA) is the leading global professional alliance of conservation finance experts, practitioners, and organizations. The CFA’s mission it to promote awareness, expertise, and innovation in conservation finance globally.
Dr. Walsh is the chair of the Marine and Coastal Finance Working group of the CFA.
The Marine and Coastal Finance Working Group seeks to consolidate and share knowledge and experience around conservation finance solutions pertinent to these critical conservation targets. The long-term objective is to build capacity among marine and coastal conservation and sustainable use practitioners in the knowledge and use of conservation finance solutions. The solutions will seek to increase available finance, reduce pressures on the ecosystems through better aligning incentives, and improve the effectiveness and efficiency of conservation actions. Initial focus will be on coral reefs and related ecosystems (mangroves, sea grass) due to the urgency of this challenge.
Pacific Ocean Finance Program
The Pacific Ocean Finance Program aims to improve the amount and efficacy of finance for eleven Pacific Island Countries. Dr. Walsh designed and managed the program from inception to Dec 2019.
* Research and development of novel financial instruments including a blue bond, environmental insurance products, large-scale marine protected area finance mechanisms, and small-scale community-driven marine management finance mechanisms
* Support to Pacific Island governments through the development of Ocean Finance Profiles - assessments of the status and opportunities to improve ocean finance for each country context
* Capacity enhancement including the creation of the Pacific Ocean Finance Fellowship and the 2019 Pacific Ocean Finance Conference
Funders: World Bank and Global Environment Facility
Implementing Entities: Pacific Island Forum Fisheries Agency & Office of the Pacific Ocean Commissioner
Implementation Partners: Asia Research & Engagement, Willis Towers Watson, Conservation International, Starling Resources, Ocean Assets Institute, WWF Asia Pacific, WWF Landscape Finance Lab, Ikigai Associates, Footprints in the Sand Consulting, Stylus Communications, Conservation Strategy Fund, Conservation Finance Alliance, Wildlife Conservation Society, Rhona Barr, Dominique Benzaken, Torsten Thiele
Lord Howe Island Sharks
Lord Howe Island, a tiny remote World Heritage Area off of Australia, is home to an isolated population of Galapagos whaler sharks. Interactions between the fishers and sharks are of concern to the community. This research investigates community attitudes and behaviours towards sharks, shark population health and behaviours, and management options. Learn more
Funded by the New South Wales Department of Primary Industry
Private Investments for the Great Barrier Reef
What conservation actions in the Great Barrier Reef are attractive to private investment? Dr. Walsh led a consortium of coral reef management and innovative finance experts to identify investment opportunities that will deliver measurable benefits for the Reef.
Funded by the Australian Department of the Environment and Energy
Funding Toolkit for Reef Citizen Science
How do citizen science organisations access novel sources of funding?
This toolkit outlines a process and opportunities for non-profit organisations to access sustainable, strategic finance.
Funded by the Great Barrier Reef Foundation and Boeing
Marine Biodiversity Offsets
Biodiviersty offsets are a regulatory mechanism used by governments to mitigate the environmental impacts of permitted development projects.
Dr. Walsh developed the first marine biodiversity offsets calculator and the Reef Trust strategy for using marine biodiversity offsets.
Funded by the Australian Department of the Environment and Energy
Partners: University of Queensland, Dr. Martine Maron and Nicole Shumway
Marine Conservation Finance: an emerging field
How big is the marine conservation funding gap? How can we generate more money for marine conservation, and invest it wisely? How do we integrate financial planning into marine conservation planning? How can businesses be part of the solution?
Research project funded by the ARC Centre of Exellence in Coral Reef Studies and the Australian National Environmental Science Program
Watch PhD Confirmation Seminar Video on Youtube
Marine Impact Investing
Are there business models that produce both marine environmental benefits and profits?
This is the first ever global survey of marine impact investments and recommendations for how to grow the sector.
Research project funded by the ARC Centre of Exellence in Coral Reef Studies and the Australian National Environmental Science Program
Reef Water Quality Loan Fund
Which agricultural water quality practices generate economic value? Can we create a revolving loan fund to help agribusinesses lower debt and improve environmental outcomes?
Research project funded by the Great Barrier Reef Marine Park Authority (Science to Management Award), ARC Centre of Exellence in Coral Reef Studies and the Australian National Environmental Science Program
Economic Value of the Great Barrier Reef
Money is the language of development, and translating the multiple values of coral reefs into the language of money assists in reef protection and management. Governments and corporations can use natural capital data and economic valuations to improve ecological and financial outcomes.
This project provides a novel perspective and numerical estimate of the monetary values of the Great Barrier Reef.
Research project funded by the Great Barrier Reef Marine Park Authority