The Ocean Policy Research Institute (OPRI) of the Sasakawa Peace Foundation co-hosted　the "Blue Economy and Blue Finance" Book Launch and Policy Dialogue with the Asian Development Bank Institute (ADBI) and the Australian National Centre for Ocean Resources & Security (ANCORS) at the 55^th Asian Development Bank (ADB) Annual Meeting on 26 September 2022.

In the opening remarks, ADBI Dean Tetsushi Sonobe indicated that the ocean is the key driving force for ocean livelihoods and a natural buffer against climate change. Nevertheless, it is time to stop taking the ocean's bounty for granted and strengthen collaboration for a robust and sustainable economy that benefits everyone. OPRI President Hide Sakaguchi recalled the joint event held in Fiji at the 52nd ADB Annual Meeting, where the Action Plan for Healthy Oceans and Sustainable Blue Economies and Oceans Financing Initiative by the ADB was announced. Since then, “blue economy” and “blue finance” have become the two catchiest terms concerning the ocean despite the language barrier.
 
In the keynote speech, ADB Vice President for Finance and Risk Management, Roberta Casali pointed out that the launch of the ADB ocean finance framework helped guide and track ocean investment for the green and blue bond framework. Later in 2022, together with United Nations Environment Programme Financing Initiative (UNEP FI) and International Finance Cooperation (IFC), the blue bond guidance was made to provide the global market consistency and transparency in financing the blue economy. These measures are expected to unlock capital for more ESG investment.

"Blue Economy and Blue Finance: Toward Sustainable Development and Ocean Governance" was co-edited by the three institutes. Atsushi Watanabe and Michael C. Huang, Senior Research Fellows of OPRI served as co-editors. The book aims to provide evidence-based approaches for promoting sustainable ocean and coastal development and management in Asia and the Pacific. Peter J. Morgan (Senior Consulting Economist and Advisor to the ADBI Dean) and Dominique Benzaken (Senior Policy Advisor of ANCORS) introduced the book coverage on governance, coastal planning, and risk management imperatives. The book offers timely and interdisciplinary methodologies for policymakers and scholars seeking to better understand the region’s ocean sustainability challenges and opportunities.
 
The policy dialogue session was moderated by Michael C. Huang (Senior Research Fellow, OPRI).  Minister Steven Victor, Ministry of Agriculture, Fisheries, and the Environment in the Republic of Palau, emphasized that capacity building and international collaboration are the keys to the resilience of the aquaculture supply chain and preparation to build back better after the pandemic. Officials and representatives of think tanks from Indonesia, Cambodia, and Bangladesh shared cases and progress of the blue economy and blue finance while advocating the importance of strengthening financing mechanisms and awareness from governments and the general public.

 Panelists for the Policy Dialogue
•Steven Victor, Minister of Agriculture, Fisheries and the Environment, Republic of Palau
•Hendra Yusran Siry, Secretary of Director General, Ministry of Marine Affairs and Fisheries, Indonesia
•Rima Prama Artha, Chief Economist, Danareksa Research Institute, Indonesia
•Poliveth Lao, Deputy Director, Ministry of Economy and Finance, Cambodia
•Monzur Hossain, Research Director, Bangladesh Institute of Development Studies
 
Pitchaya Sirivunnabood (Deputy Head and Senior Economist of ADBI Capacity Building and Training Department) wrapped up the webinar and announced that the collaboration between OPRI and ANCORS will continue. The vibrant discussion implied the indispensability of establishing a platform for consolidating multilateral dialogues among a wider range of stakeholders to achieve ocean equity through innovative, fair, inclusive, and sustainable strategies.
 
The webinar recording is available here (external link).