The Blue Wonder

Once seen as too vast to harm, the ocean is now being considered as too broken to fix. The lack of direct action and investment to protect and restore it risks its future.

The ocean generates our oxygen, regulates our climate and produces our food. However, the imbalance between what it gives and what we take is becoming increasingly difficult to maintain.

Around half of the oxygen produced on Earth today comes from the ocean.¹ It is not only the planet’s lungs, but also its biggest carbon sink, absorbing 25% of CO₂ emissions and 90% of excess heat generated by these emissions.² The ocean also provides nearly 20% of the world's per capita animal protein.³

Pressures on the ocean, including plastic waste, acidification, tourism, pollution from shipping, and overfishing are all increasing. Two million tons of plastic are estimated to enter the ocean every year, while overfishing has increased to nearly 40% from 10% in the last half a century.⁴

On June 8^th each year, the world comes together to celebrate and reflect on the ocean. This year, the theme of World Oceans Day⁵ is “Wonder” and asks us to consider how wondrous the ocean is, and how we can better sustain what sustains us. If the ocean is more carefully protected and managed, it will recover.

Business can play a critical role in the race to restore harmony between humans and nature, including the ocean. Nature related investment finance is estimated to be between US$154-166 billion per year, but this still primarily consists of public funds.⁶

Business nature-positive strategies can help unlock finance, subsidies, and investment to support wider conservation and restore ocean ecosystems. Recent research shows that the investment benefits of ocean protection schemes, more sustainable shipping and other ocean dependent industries can be five times higher than the costs involved.⁷

By positioning nature at the heart of what they do through location-specific and cost-benefit analyses, organizations can introduce a bluer dimension to their business operations and help secure the ocean’s future.

High stakes of ocean decline

Lives and economies depend on the ocean; the value they bring is considerable. In 2025, the global ocean economy is estimated to be US$ 24 trillion with annual benefits of US$ 2.5 trillion. The ocean and the coastal areas around them directly support over 3 billion jobs.⁸

Many ocean-dependent industries are increasingly under threat. Overfishing is leading to ecosystem and economic collapse for the fisheries sector. A third of fishing grounds (38%) are now overfished at unsustainable levels, while the share of fish stocks within biologically sustainable levels has declined to over 60 percent.⁹

Coral reefs are also in severe decline. An estimated 75% are impacted by industries such as fishing and tourism as well as warming sea temperatures.¹⁰ These ecosystems are worth US$ 375 billion per year to the global economy, from industries and services including fishing, food, pharmaceuticals and tourism.¹¹

Perhaps the biggest danger to the ocean is climate change. Greenhouse gas emissions are severely damaging blue ecosystems¹², warming and acidifying seawater. As the ocean’s capacity to absorb carbon dioxide weakens, so has its ability to help protect the Earth from changes in temperatures and weather systems.

Unlocking opportunities in ocean sectors

While many organizations today have relatively mature sustainability and climate strategies, most have a stronger emphasis on terrestrial or "green" solutions, including forestry and land-based ecosystem restoration. ¹⁴ It means that investment in blue ecosystems is underrepresented, despite the critical role they have in climate mitigation and their importance to the global economy.

They are missing out on a vast investment opportunity. The “Blue Economy” offers inclusive economic growth and better livelihoods through ocean-based investment and sustainable projects. Research by the World Economic Forum shows that the value of the business opportunities offered by nature and the ocean could be as high as US$10 trillion, creating 395 million jobs by 2030.¹⁵

The global ocean economy doubled in real terms in 25 years, reaching a total value of $2.6 trillion. Tourism and offshore oil and gas extraction are the primary industries that have contributed to this total growth, while many new ocean sectors are also developing.¹⁶ These include marine technologies (e.g. marine biotechnology) and manufacturing (e.g. offshore wind and electrical equipment). These emerging sectors currently face relatively little competition.

• The marine biotechnology sector is experiencing rapid growth; its market value is expected to increase from nearly US$7 billion in 2024 to over US$11 billion by 2032. It spans diverse industries, including food, medicines, cosmetics and nutraceuticals.¹⁷ A driver of innovation, ocean projects such as the EU’s NOMORFILM initiative is already patenting antibiotic compounds from over 500 microalgae species.¹⁸
• Aquaculture is another ocean sector with huge potential. The global sale value of aquatic animals is estimated at US$453 billion (US$157 billion from capture fisheries and US$296 billion from aquaculture).¹⁹ As global demand for nutrient-rich, high-protein food grows (including shrimp, oysters, carp, tilapia, anchovies, and pollock), the aquaculture market is expanding rapidly but remains underinvested in many areas, notably in many African countries where food remains scarce.²⁰
• Offshore and coastal renewable energy is also growing fast. Offshore wind alone could remove up to 4.5 Gt of CO₂ emissions annually by 2050 and deliver net financial benefits of up to US$6.8 trillion. It has the potential to create more jobs than are being lost in the oil and gas industry. Despite this, there is a high funding gap (over US$1 trillion per year) in renewable energy and the need for increased investment in ocean-based renewables such as wave, tidal, offshore wind, and floating solar is now urgent.²¹

Meanwhile, traditional ocean industries, including fishing and shipping, are finding ways to become more sustainable and are transforming, with opportunities available to support them in reducing their carbon footprint.

• Going forward, the global shipping industry will operate under a new framework, approved by the International Maritime Organization. It is phasing in stricter standards for marine fuels and introducing a pollution pricing system, whereby high-emitting ships will pay for their greenhouse gas emissions.²²

As the ocean sector grows in volume and scale, the financial feasibility and attractiveness of nature investments is likely to increase with greater economic returns. By protecting nature, sectors will also be reducing some of the risk associated with investing in ocean dependent industries such as fishing and tourism.

Taking the lead in ocean protection and recovery

Supporting nature can sometimes feel isolating and overwhelming. The power of people coming together on World Ocean Day is an important reminder of why we do what we do.

By focusing on nature-led investments and following nature and ocean positive pathways, businesses can protect the ecosystem services they depend on, halting and reversing the impact of biodiversity loss. This is more than just compliance; it involves prioritizing a nature-centric business strategy.

The blue economy remains an untapped opportunity for organizations to progress climate and nature-positive plans. They can take the lead through targeted investments which integrate ocean-related projects into their business and climate plans. These can then be a tool for carbon offsetting and more nature positive outcomes.

Building awareness is important. Organizations need to leverage education, support research and tell their stories - spotlighting their investments and their role in tackling climate change and biodiversity loss. They can also collaborate through global initiatives, such as Oceana;²³ the Ocean Resilience and Climate Alliance,²⁴ and the Blue Marine Foundation.²⁵

Partnerships to protect the ocean will be the focus of the June 2025 United Nations Ocean Conference (UNOC) in Nice, France.²⁶ Taking place just after World Ocean Day, this critical conference hopes to accelerate action and mobilize stakeholders in support of SDG 14, to conserve and protect the ocean.²⁷ The conference will adopt a "Nice Ocean Action Plan" and support initiatives to also support the Kunming-Montreal Global Biodiversity Framework (GBF) Target 3, protect 30% of terrestrial, inland, water, and coastal and marine areas.²⁸

Finding compelling ways to communicate the message about the dangers to the ocean is crucial to building a future that values and protects it. A powerful new film “Ocean” narrated by Sir David Attenborough and released ahead of World Oceans Day, does just that. Talking about the film, he says “I now understand the most important place on Earth is not on land, but at sea”.²⁹

The message is clear; the ocean cannot wait, and neither can we. By empowering businesses to invest in and therefore safeguard what sustains us, World Ocean Day 2025 is already a success.

How KPMG can help

KPMG firms have experience in supporting organizations to establish their blue economy strategy. KPMG professionals can help organizations integrate blue economy considerations within their corporate and climate strategies.

We help organizations to identify and access funding for blue economy related investments and projects, aligning and reporting against the evolving measures from the Taskforce on Nature-related Financial Disclosures (TNFD), supporting and developing energy transition to integrate blue energy sources and protect and promote the social aspects of the blue economy.

Our coastal and marine service offering provides experience in climate scenario planning and assessment with more focus on the management of water assets and infrastructure. This includes more support with the planning and collection, tracking, and interpretation of water use using propriety data analytics.

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Footnotes

1. National Ocean Service: How much oxygen comes from the ocean?
2. United Nations: The ocean – the world’s greatest ally against climate change
3. American Geophysical Union “Farming the Sea: The Only Way to Meet Humanity's Future Food Needs,” 21st August 2019 https://agupubs.onlinelibrary.wiley.com/doi/10.1029/2019GH000204
4. United Nations Trade and Development “Fast-growing trillion-dollar ocean economy goes beyond fishing and shipping”, March 5, 2025. -https://unctad.org/news/fast-growing-trillion-dollar-ocean-economy-goes-beyond-fishing-and-shipping
5. United Nations World Oceans Day 2025
6. KPMG Finance adapted from UNEP “State of Finance for Nature” 2022 - https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2023/12/investment-in-nature.pdf
7. High Level Panel for a Sustainable Ocean Economy “A Sustainable Ocean Economy for 2050: Approximating Its Benefits and Costs”, May 2022 - https://oceanpanel.org/wp-content/uploads/2022/05/Ocean-Panel_Economic-Analysis_FINAL.pdf
8. World Wildlife Fund website – Blue Finance
9. Food and Agriculture Organization “The State of World Fisheries and Aquaculture”, 2024 - https://openknowledge.fao.org/items/06690fd0-d133-424c-9673-1849e414543d
10. Science on a Sphere - Coral Reef Risk Outlook
11. United Nations “Coral reefs: We continue to take more than we give”, 14th February 2018 - https://www.unep.org/news-and-stories/story/coral-reefs-we-continue-take-more-we-give
12. These ecosystems include seagrass meadows, mangrove forests, tidal marshes, and seaweed beds
13. The Taskforce on Nature-related Financial Disclosures (TNFD) has sector-specific guidance for several ocean industries (e.g., fisheries, aquaculture, marine transportation, etc.). Each highlight sector-specific impacts, risks, and opportunities.
14. Future Business “How Many Businesses are Investing in Sustainability? 27th April 2023 -https://future-business.org/businesses-investing-in-sustainability/
15. World Economic Forum “New Nature Economy – Report 2: The Future of Nature and Business”, 2020 - https://www.wbcsd.org/wp-content/uploads/2023/11/World-Economic-Forums-WEF-second-report-of-the-New-Nature-Economy-Report-Business-Summary.pdf
16. OECD “The Ocean Economy to 2050”, 31st March 2025 - https://www.oecd.org/en/publications/2025/03/the-ocean-economy-to-2050_e3f6a132.html
17. SkyQuest “Marine Biotechnology; Market Size, Share and Market Growth Analysis,” February 2025 - https://www.skyquestt.com/report/marine-biotechnology-market
18. European Commission webpage: Oceans inspire new antibiotics to tackle resistance
19. The United Nations “The State of World Fisheries and Aquaculture 2024”, 2024 ( The UN defines capture fisheries as “the removal of aquatic organisms from natural or enhanced inland waters, or marine environments” and aquaculture as the “farming of aquatic organisms, including fish, molluscs, crustaceans and aquatic plants”. - https://openknowledge.fao.org/items/06690fd0-d133-424c-9673-1849e414543d
20. The United Nations “The State of World Fisheries and Aquaculture 2024”, 2024 - https://openknowledge.fao.org/items/06690fd0-d133-424c-9673-1849e414543d
21. Standard Chartered Bank “Towards a sustainable ocean: where there’s a will, there’s a wave,” 2024 - https://www.sc.com/en/campaigns/blue-economy/
22. International Maritime Organization “IMO approves net-zero regulations for global shipping,” 11th April 2025 - https://www.imo.org/en/MediaCentre/PressBriefings/pages/IMO-approves-netzero-regulations.aspx
23. Oceana
24. Ocean Resilience and Climate Alliance
25. The Blue Marine Foundation
26. United Nations Ocean Conference, 2025 - https://sdgs.un.org/conferences/ocean2025/about-unoc-2025
27. United Nations Sustainable Development Goal 14 focuses on protecting the Ocean
28. Greenpeace “Governments to meet at UN to discuss first ever “Ocean COP””, 24th June 2024 - https://www.greenpeace.org.uk/news/governments-to-meet-at-un-to-discuss-first-ever-ocean-cop/
29. BBC “Attenborough at 99 delivers 'greatest message he's ever told’”, 6th May 2025 - https://www.bbc.co.uk/news/articles/cn0wjxg0ex1o