rethink sustainability
Turning the tide: five key strategies to safeguard our seas
The ocean is essential to life on Earth, making up 90% of the planet’s biosphere and covering approximately 71% of its surface.1 It feeds us, provides critical medicines, and offers a host of cultural and recreational benefits. Our oceans generate more than half of the world’s oxygen and play an essential role in regulating the climate. Beyond its environmental importance, the ocean is a powerful driver of the global economy, creating jobs, fuelling development, and ensuring food security for millions worldwide.2 In addition, around 90% of the world’s goods move across our seas,3 and they carry 98% of international internet traffic through a host of undersea cables.4
‘Blue economy’ generally refers to a sustainable ocean-based economy that supports economic activities linked to oceans, seas and coastal areas, while safeguarding the health of marine ecosystems.
Over the past five decades, ocean-based industries have expanded rapidly, driving the ocean economy to an estimated value of around USD 24 trillion, according to the World Wildlife Fund.5 The United Nations estimates that the ocean generates around USD 2.5 trillion every year, making it the world’s seventh-largest economy.6 Projections suggest this figure could increase to USD 3 trillion by 2030, with significant growth expected in sectors like offshore wind energy, marine aquaculture, and fish processing.7
Building a resilient ‘blue economy’
There is overwhelming evidence that the future economic and ecological prosperity of the planet depends on healthy oceans. Yet, despite all this, our oceans are under immense pressure from environmental degradation, overfishing, pollution, habitat destruction, and the accelerating impacts of climate change. And threats are mounting.
Our current operating model focusses on short-term gains over sustainable practices, continues to degrade ocean health and poses significant financial risks. If current trends persist, climate-induced declines in ocean health could cost the global economy an estimated USD 430 billion annually by 2050.8 Urgent action is therefore needed to protect our oceans, the lifeblood of our planet, and to work towards a more just, equitable, and sustainable future for all. Now is the time for bold, collaborative action to safeguard marine ecosystems and harness the potential of our oceans to secure a more sustainable ‘blue economy’.
Here are five key strategies to support our oceans and their ability to provide the services, and life, that we all depend on.
1. Strengthening ocean governance and regulation
2. Rewilding the ocean floor
3. Combating pollution, especially plastics
4. Going plant-based
5. Protecting blue carbon sinks
Strengthening ocean governance and regulation
Overfishing, mass tourism, and pollution have significantly degraded the health of our oceans. However, implementing and enforcing marine protected areas (MPAs), along with science-based fishing limits, has consistently proven effective in maintaining and even increasing fish populations. As of 2024, approximately 8.5% of the world’s oceans are designated as MPAs. Yet, only 2.8% are considered effectively protected. This means that most protected zones lack the necessary management and enforcement needed to truly preserve marine ecosystems effectively.
The gap in effective ocean protection highlights the pressing need to fulfil the ‘30 by 30’ commitment outlined in the Kunming-Montreal Global Biodiversity Framework.9 Agreed upon at the 2022 UN Biodiversity Conference (COP15), this global pact calls on countries to conserve at least 30% of terrestrial, freshwater, and marine ecosystems by the end of the decade. Achieving this goal will require not just expanding marine protected areas (MPAs), but also ensuring they are properly managed, especially in regions beyond national borders.
The 2023 adoption of agreements such as the WTO Fisheries Subsidies Agreement and the High Seas Treaty (BBNJ) marks another significant step forward. These collaborative efforts are essential for closing regulatory and enforcement gaps and for aligning economic incentives with long-term sustainability goals.
Read also: How tech is being used to keep fisheries in line | Lombard Odier
Rewilding the ocean floor
Rewilding, often referred to as ‘underwater gardening’, involves the restoration of marine ecosystems by reintroducing key plant and animal life to areas where they have declined. This can be achieved by restoring key habitats, such as seagrass meadows, tidal marshes, and mangroves to boost biodiversity and capture carbon. Underwater rewilding enhances coastal protection and supports fisheries.
Japan, which has some of the longest coastlines in the world, has initiated large-scale seagrass restoration projects to restore coastal ecosystems and support the country’s goal of carbon neutrality by 2050. Japan’s Ministry of the Environment estimated that seagrass and seaweed beds absorbed approximately 350,000 tons of CO₂ in 2022, highlighting the potential of blue carbon in climate change mitigation efforts.10
By boosting the biodiversity of our oceans and protecting their health through such rewilding efforts, we not only support fisheries and protect coastal life but also enhance the oceans’ capacity to mitigate the impacts of climate change.
Combating pollution, especially plastics
Plastics and other marine pollutants, acidification and rising ocean temperatures due to climate change are negatively impacting marine inhabitants and biodiversity. The United Nations Environment Programme (UNEP) estimates that between 19 to 23 million tonnes of plastic waste leak into aquatic ecosystems each year.11 This influx not only endangers marine biodiversity but also jeopardises industries reliant on ocean health, such as fisheries and tourism. Microplastics have been detected in various marine species, raising concerns about the implications for human health and food security.
Addressing these challenges requires a multifaceted approach, including reducing plastic production, enhancing waste management systems, and fostering international cooperation. And while global efforts are underway, progress is slow. The Intergovernmental Negotiating Committee (INC) aims to tackle this head-on by establishing a legally binding international treaty to curb plastic pollution and address the entire lifecycle of plastics from production to disposal.12
Complementary action from the private sector is more crucial than ever. Plastic Bank, which Lombard Odier is proud to partner with, is an example of an innovative solution to the problem of waste. Plastic Bank enables people living in poverty to collect plastic and exchange it for essential material goods. They then reprocess collected plastics for reintroduction into the supply chain.
Innovations such as these are contributing to a new way of thinking about plastic, with many in the sector now working to build a new, circular economy for plastics. Lombard Odier is also collaborating with the Alliance to End Plastic Waste, a network of some of the largest names in the global plastics industry, to direct investment across the plastics value chain to promote innovative alternatives to fossil fuel-based plastics, new patterns of use, and improvements in collection, sorting, and recycling. The Lombard Odier Plastic Circularity Strategy aims to drive the global transition towards a circular economy.
Read also: What are our top tips to reduce plastic pollution? | Lombard Odier
Going plant-based
Reducing plastic use, regulating overfishing, and restoring marine habitats are pivotal steps toward building a sustainable ocean economy. However, shifting dietary habits, such as reducing fish consumption and embracing plant-based and cultivated alternatives, can also significantly alleviate pressure on marine ecosystems and support more sustainable food systems.
The global appetite for seafood has led to overexploitation of fish stocks, with over 34% of global fish stocks being overfished, according to the Food and Agriculture Organisation (FAO)’s 2024 State of World Fisheries and Aquaculture report. This overfishing not only threatens marine biodiversity but also undermines the livelihoods of communities dependent on fishing industries.
In response, the market for plant-based seafood alternatives is experiencing rapid growth. Companies like Good Catch have developed plant-based tuna that mimics the taste and texture of traditional tuna, offering consumers sustainable alternatives. As of 2024, the global plant-based food industry was valued at approximately USD 45 billion13 and is expanding beyond meat substitutes to include a variety of seafood alternatives, such as plant-based shrimp and sushi. Forecasts project that by 2030 the market will have more than doubled in size.14
By reducing reliance on traditional fishing practices and promoting innovative food sources, we can contribute to healthier oceans and a more resilient global food system. Embracing these alternatives not only supports marine conservation efforts but also aligns with broader sustainability goals.
Read also: Supporting the transition towards a nature-based economy | Lombard Odier
Protecting blue carbon sinks
Safeguarding ocean-based carbon stores such as mangroves, kelp forests, and seagrass beds is essential in the fight against climate change. These coastal and marine ecosystems, often referred to as ‘blue carbon’ sinks, absorb billions of tonnes of CO₂ from the atmosphere, storing it in their biomass and sediments for centuries. Recent studies indicate that the ocean absorbs approximately 10.6 billion metric tons of CO₂ annually, accounting for about 26% of human-induced emissions.15 This immense capacity makes the ocean one of the planet’s most crucial carbon sinks.
Beyond their climate benefits, they also protect coastlines from erosion, support rich biodiversity, and provide vital resources for local communities. Preserving and restoring these natural carbon sinks is one of the most effective and nature-based strategies for reducing atmospheric CO₂ while enhancing ocean health.
However, this absorption comes at a cost. The influx of CO₂ leads to ocean acidification, a process that lowers the pH of seawater, adversely affecting marine life, particularly organisms that rely on calcium carbonate for their skeletal structures. Coral reefs are especially vulnerable; projections suggest that even if global warming is limited to 1.5 degrees Celsius above pre-industrial levels, up to 90% of coral reefs could be lost.16 This loss not only threatens marine biodiversity but also the livelihoods of communities dependent on reef ecosystems.
To mitigate these impacts, it is imperative to reduce CO₂ emissions and implement strategies that enhance the resilience of marine ecosystems. Protecting and restoring natural carbon sinks, such as mangroves and seagrass meadows, can enhance the ocean’s ability to sequester carbon and preserve biodiversity.
Protecting our natural capital
These five strategies are essential to catalysing a healthier ocean economy. On World Oceans Day, we are reminded that our ocean is not just a resource; it is the foundation of life, climate stability, and economic prosperity on our blue planet.
It is time to protect our natural capital and build a more sustainable future. Without urgent, collaborative, and sustained action, we risk compromising not only marine biodiversity, but also global economic and social resilience. Governments, investors and consumers all have key roles to play. Now is the time to act boldly.
At Lombard Odier, we believe that investing in global system changes will drive us towards an economy that is net zero, nature-positive, socially equitable and digitally enabled. By aligning policy, finance, innovation, and behaviour, we can secure a thriving ‘blue economy’, one that restores ocean health while fostering long-term economic growth and climate stability.
1 Biodiversity: figures; data; papers and scientific studies
2 https://www.oecd.org/en/publications/2025/03/the-ocean-economy-to-2050_e3f6a132.html
3 OECD (2025), The Ocean Economy to 2050, OECD Publishing, Paris, https://doi.org/10.1787/a9096fb1-en
4 OECD (2025), The Ocean Economy to 2050, OECD Publishing, Paris, https://doi.org/10.1787/a9096fb1-en
5 Ocean wealth valued at US$24 trillion, but sinking fast | WWF
6 Sustainable Blue Economy | UNEP - UN Environment Programme
7 https://docs.un.org/en/A/CONF.230/2025/4
8 https://www.reuters.com/sustainability/battling-climate-change-japan-looks-seagrass-carbon-capture-2024-04-25
9 https://www.unep.org/plastic-pollution
10 https://www.unep.org/inc-plastic-pollution
11 https://openknowledge.fao.org/items/06690fd0-d133-424c-9673-1849e414543d
12 https://www.statista.com/statistics/1280394/global-plant-based-food-market-value/
13 Plant-based food market value worldwide 2030| Statista
14 Plant-based food market value worldwide 2030| Statista
15 research.noaa.gov
16 99% of coral reefs could vanish if we don't act fast - study | World Economic Forum
Important information
This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.
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