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World Ocean Day 2024: Catalysing Action for Our Ocean & Climate

Guernsey 7th Jun 2024
This Saturday marks World Ocean Day 2024 and the launch of a new multi-year action theme: “Catalysing Action for Our Ocean & Climate”.

Originally proposed in 1992 to provide a strong voice that the ocean sector lacked, World Ocean Day (WOD) has continually developed since its inception in 2002.

In its early years (2002-2004), the focus was on building awareness and fostering collaboration. This involved reaching out to various sectors and organisations to get everyone on board. The focus then shifted towards official recognition with the UN officially establishing the day in 2008.

Since then, World Ocean Day has featured a specific theme each year. These themes have tackled a range of pressing issues impacting the ocean, including climate change, youth involvement in ocean conservation, and specific environmental challenges like plastic pollution and protecting a significant portion of the planet (including the ocean) by 2030.

The 2024 theme of “Catalysing Action for Our Ocean & Climate” is especially pertinent for islands like Guernsey which are intrinsically linked to the seas, but it is crucial to understand that the health of our oceans is critical to everyone as it cleans about 30% of the oxygen that we breathe and plays a vital role in regulating the earth’s temperature. Many cities including London, Shanghai, New York and Tokyo will be below sea level by 2050.

We are at a crucial tipping point in the history of the planet and our oceans may be our best chance to halt the climate emergency while continuing to provide sustainable resources, carbon removal. Looking through a financial services lens, companies play a crucial role in supporting the blue economy to support the sustainable use of ocean resource to benefit economies, livelihoods and to conserve the ocean ecosystem health.

 

Unlocking the ocean’s full potential and leading the blue economy revolution

Founded in the UK with a global outlook and reach, Future Planet Capital (FPC) is an impact-led venture capital firm built to back innovative companies from the world’s top universities and research ecosystems. In 2022, FPC partnered with the Prince Albert II of Monaco Foundation and the Monaco Government to build a Blue Economy investment strategy to invest in ocean innovation.

With 140 portfolio companies across geographies and stages, their mission is to invest in high-growth companies solving global challenges – profitably – all while mapped against the UN Sustainable Development Goals (SDGs).

FPC manages over $400m of assets for public and private investors and have deployed more than $200m through co-investment initiatives.

The frontier technologies in which they invest address critical challenges for humanity and the planet, aligning investments to the UN SDGs, including Sustainable Development Goal (SDG) 14 which is dedicated to the conservation and sustainable use of the oceans, seas and marine resources.

As an example investment from FPC, Captura offers an innovative climate change solution harnessing the ocean – the world’s largest carbon removal vector.

Captura’s systems enable the ocean to draw down additional CO2 without raising oceanic levels. Seawater is drawn in, CO2 extracted and securely stored or utilised for sustainable products. The process ensures net CO2 removal without harming the ocean or requiring additional resources.

To quote Ed Phillips, Investment Director at Future Planet Capital:

“Despite the fact that the ocean sustains billions of people with food and work, carries 80% of the world’s trade, and serves as the greatest single carbon and heat sink, the ocean in all its vastness has gone largely overlooked by both technologists and investors.”

JTC is proud to support innovative companies such as Future Planet Capital, providing structuring, accounting, company secretarial and directorships within our corporate services to help align the investment decisions with the corporate goals and mission.

Chris Corcoran, Senior Director at JTC in Guernsey, said:

“We are proud to support Ed and the team at FPC. We feel the blue ocean economy represents a vital intersection of environmental stewardship and economic growth, where sustainable practices not only protect our oceans but also drive innovation and prosperity for future generations.”

Over recent years, we at JTC have been on our own sustainability journey.

As a publicly listed company we appointed a Chief Sustainability Officer, further embedding ESG strategy into governance structures, reporting under TCFD, SASB and remaining Carbon Neutral+ while now also reporting to the Carbon Disclosure Project (CDP).

Secondly, through JTC’s Sustainability Services team based across the globe, we support fund and corporate clients to develop their own ESG policies, strategies and support with regulatory compliance (frameworks including but not limited to SFDR, SDR and CSRD), provide training for staff and deliver carbon support.

 

A blue ocean strategy for our blue oceans

Macroeconomic instability may seem like a time to hold dry powder and ride out the challenges, but there has arguably never been a better time to support innovation for the benefit of people and our planet.

Through companies like FPC, who have already supported eight businesses with direct positive impact on the oceans, we can all take the opportunity to create meaningful action for our oceans and climate for future generations.

 

About Future Planet Capital

FPC invests in frontier technologies applied to critical challenges for humanity and our planet. Taking a top-down, bottom-up approach, and diving deep into the largest opportunities, where the densest, highest-quality innovation is happening.

FPC is also part of the 1000 Ocean Startups coalition which unites the global ecosystem of incubators, accelerators, competitions, matching platforms, and venture capital & corporate venture capital firms supporting startups for ocean impact. 1000 Oceans Startups is a World Economic Forum initiative pledging to backing at least 1000 transformative ocean start ups by 2030.

To find out more, please contact Ed Phillips or visit www.futureplanetcapital.com

 

About JTC

As a leading global professional services business in the fund, corporate and private client sectors, JTC recognises its own responsibility to embrace ESG and sustainability, and understands the opportunity it has to play a role in supporting its clients to achieve  their own sustainability missions.

To find out more, please contact Chris directly.

World Ocean Days 2024

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