Exploring risks and opportunities in the ocean economy

Deloitte has joined forces with Whale and Dolphin Conservation (WDC) to highlight the risks and opportunities in the ocean economy at a Sustainable Finance Week fringe event in September.

WDC has worked with Deloitte as one of their World Climate charity partners for the last two years; the firm helps WDC through pro bono, volunteer and financial support.

As part of this partnership the two organisations recently co-produced an Ocean Ambassadors report which takes a deep dive into the value of the ocean environment to the economy and businesses. The report casts a spotlight on food, retail, tourism, shipping and financial services and presents a unique value framework to support businesses in decision making.

80% of the global supply chain uses the ocean to transport goods so, looking ahead to the introduction of the Taskforce on Nature-related Financial Disclosures framework, understanding the opportunities and risks in the ocean economy could soon be as important as an organisation’s work to achieve net zero.

Deloitte Economic Advisory Partner and Ocean Ambassadors report author, Andy Tong and Chris Butler Stroud, CEO of Whale and Dolphin Conservation, will welcome interested business leaders to a discussion around the key findings of the report, exploring the business case for being ahead of the curve on nature and acting now to protect our ocean.

Joining the panel is Alex Herschel, Chief Sustainability Officer for Island Energy Group. Alex is a Chartered Environmental specialist with 25 years of experience. A passionate advocate of sustainability, Alex is a founding member and Vice Chair of the Guernsey Green Forum and a committee member of the Guernsey Chamber of Commerce Sustainable Business Initiative.

The event will be facilitated by Jo Huxtable and Claire Galineau of Deloitte, and will take place at La Vallette Bathing Pools, on Tuesday 19th September from 8.00am – 9.30am.

One of the speakers, Andy Tong, said: “Human impacts on the ocean and its ecosystems, including on whales and dolphins, are not fully factored into the price we pay for goods and services. A significant proportion of what we consume as a society makes use of the ocean, directly or indirectly. The impact of this activity, which gives rise to biodiversity loss and climate change, means we are now at a point where our oceanic ecosystems are under significant threat.

“Within this changing landscape, risks and opportunities emerge for businesses and providers of financial capital – changing behaviours along with investment into marine ecosystems will be key. We can also benefit from harnessing technology to collect more and better data to better understand impact and act accordingly. Organisations can benefit financially as well as contributing to positive ecological and societal outcomes by taking proactive action now.”

The event, which is free to attend, is part of the Deloitte Climate Collective initiative. The scheme’s mission is to bring communities and businesses together through events in the Channel Islands, Isle of Man and Gibraltar to make a positive impact by enhancing environmental, social and governance developments. Deloitte’s aim is to help everyone take actionable steps towards sustainable prosperity by providing valuable insights and fostering collaboration.