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This report focuses on ocean degradation and makes the case for (1) increased attention and action from businesses and financial institutions, and (2) a more integrated approach across climate change, biodiversity loss and ocean degradation. It starts by examining the significance of the ocean from environmental, economic and social perspectives and the current state of play. This is followed by a deep dive into the root causes of negative impacts on oceans, which is then mapped to industries – both marine and land-based. Almost all industries contribute to ocean degradation through one or more of three key “stressors”: climate change, pollution, and land/sea use change & direct exploitation. We then discuss the risks and opportunities for businesses and financial institutions, as well as relevant regulations and initiatives that are in place and on the horizon. The note concludes with a set of recommendations for the private, public and finance sectors.

This report focuses on ocean degradation and makes the case for (1) increased attention and action from businesses and financial institutions, and (2) a more integrated approach across climate change, biodiversity loss and ocean degradation. It starts by examining the significance of the ocean from environmental, economic and social perspectives and the current state of play. This is followed by a deep dive into the root causes of negative impacts on oceans, which is then mapped to industries &ndash; both marine and land-based. Almost all industries contribute to ocean degradation through one or more of three key &ldquo;stressors&rdquo;: climate change, pollution, and land/sea use change &amp; direct exploitation. We then discuss the risks and opportunities for businesses and financial institutions, as well as relevant regulations and initiatives that are in place and on the horizon. The note concludes with a set of recommendations for the private, public and finance sectors.

The neglected SDG that could sink them all

This report focuses on ocean degradation and makes the case for (1) increased attention and action from businesses and financial institutions, and (2) a more integrated approach across climate change, biodiversity loss and ocean degradation.

Ocean Degradation

COP27 Page

As COP27 begins in Sharm El Sheikh, CEO of Citi’s Institutional Clients Group, Paco Ybarra and our Chief Sustainability Officer Val Smith discuss Citi’s engagement at the conference and the themes we expect to see this year. 

Paco Ybarra and Val Smith discuss COP27

<a href="https://www.citigroup.com/global/pe/cop27-2022-united-nations-climate-change-conference">Citi's COP27 Event Page</a>

Bridget Fawcett, Global Co-Head of Sustainability & Corporate Transitions at Citi, and Jason Channell, Head of Sustainable Finance, Citi Global Insights talk on momentum from COP26 to COP27 and Citi sessions taking place at COP27. 

Bridget Fawcett and Jason Channell talks on Momentum from COP26 to COP27 

Citi's Keith Tuffley, Global Co-Head of Sustainability & Corporate Transitions Group, Banking, Capital Markets and Advisory and Ebru Pakcan, Head of EMEA Emerging Markets Cluster discuss the importance of supporting emerging markets in the energy transition and how private and public sectors can work together to drive solutions for these developing economies.