Policy Update
Aditya Sharma
Background
The oceans, covering more than 70% of the Earth’s surface, sustain the livelihoods of nearly three billion people and generate an estimated global ocean economy valued at $3–6 trillion annually (OECD, 2025). However, marine ecosystems face escalating threats from overfishing, pollution, climate change, and habitat destruction. Against this backdrop, the G20 under India’s Presidency achieved a major milestone on July 28, 2023, when Environment and Climate Ministers adopted the Chennai High-Level Principles for a Sustainable and Resilient Blue/Ocean-Based Economy (HLP-SRBE) (G20 India, 2023).
The HLP-SRBE marked the first global consensus among G20 nations on integrated ocean governance, emerging from extensive negotiations within four Environment and Climate Sustainability Working Group (ECSWG) meetings. The framework aligns with global environmental commitments, including the 2030 Agenda for Sustainable Development (SDG 14), the Paris Agreement, the Convention on Biological Diversity, the Kunming-Montreal Global Biodiversity Framework, and the BBNJ Agreement under UNCLOS (Government of India, 2023).
The initiative recognized that treating the ocean as an infinite resource for exploitation and waste disposal is unsustainable. It called for a paradigm shift toward holistic management that balances environmental protection, economic growth, and social equity, particularly as the post-pandemic recovery offered opportunities to “build back bluer” through sustainable, climate-resilient ocean economies (Matovu, 2024).
Functioning
The HLP-SRBE is structured around nine guiding principles, designed to steer member nations toward sustainable ocean governance while respecting national contexts and priorities. Implementation remains voluntary yet guided by collective ambition and international cooperation.
Principle 1: Prioritizing Ocean Health emphasizes marine ecosystem conservation as the foundation of all ocean-based economic activity. It sets a target to effectively conserve 30% of coastal and marine areas by 2030, consistent with the Kunming-Montreal Global Biodiversity Framework. It also advocates lifecycle approaches to reduce marine pollution through circular economy transitions.
Principle 2: Ocean-Climate Linkages recognizes the ocean’s pivotal role in regulating global climate systems. It promotes nature-based and ecosystem-based approaches, ocean-based renewable energy, and community-led adaptation, integrating scientific and Indigenous knowledge systems (High Level Panel for a Sustainable Ocean Economy, 2022).
Principles 3 and 6: Social Equity and Inclusion address intergenerational equity, gender equality, and Indigenous rights protection. They ensure transparent, participatory governance empowering coastal and Indigenous communities.
Principle 4: Marine Spatial Planning (MSP) provides a scientific and operational framework for balancing human activity with ecosystem preservation, emphasizing climate resilience and integrated management across ecological, economic, and cultural dimensions.
Principles 5, 7, and 8 strengthen governance infrastructure through innovation, monitoring, evaluation, and international cooperation. These mechanisms encourage data-driven policymaking, cross-border collaboration, and shared responsibility for maritime sustainability.
Principle 9: Ocean Finance tackles the critical funding gap by enhancing access to diverse financing sources and phasing out harmful subsidies. It urges alignment with financial mechanisms under the UNFCCC, Paris Agreement, and CBD to ensure sustainable ocean investments.
Performance
Since its adoption, the HLP-SRBE has galvanized notable momentum in ocean governance and finance. Countries such as India, Japan, and Indonesia have integrated the principles into national blue economy strategies (Ministry of Earth Sciences, 2025).
At the regional level, the European Union’s Sustainable Blue Economy Partnership, allocating €450 million over seven years, exemplifies alignment with HLP-SRBE objectives through joint research and innovation programming (European Commission, 2021).
Marine Spatial Planning (Principle 4) has gained traction, with 17 nations pledging to sustainably manage 100% of their ocean areas under national jurisdiction by 2025 (High-Level Panel for a Sustainable Ocean Economy, 2022).
Financially, innovative mechanisms such as debt-for-nature swaps in Seychelles, Belize, Barbados, Gabon, and Indonesia have mobilized billions for marine conservation aligned with HLP-SRBE principles (Sumaila et al., 2021). The blue bond market surpassed $5 billion in global issuances by 2023 (OECD, 2025), although challenges persist regarding transparency and standardized reporting.
Scientific collaboration has intensified, with increased funding for research on ocean-climate interactions and the establishment of monitoring systems to support better data-driven decision-making (World Resources Institute, 2025).
Impact
The HLP-SRBE has redefined global discourse on ocean governance by shifting from sectoral management to integrated, ecosystem-based frameworks. It has provided a unified lexicon and performance benchmark for sustainable blue economy practices across nations and institutions (KPMG India, 2025).
Economically, the framework has stimulated investment in marine renewable energy, sustainable aquaculture, and blue biotechnology. Environmentally, it has accelerated the creation of marine protected areas (MPAs) and comprehensive pollution control initiatives, contributing directly to SDG 14 progress.
Socially, the framework’s inclusive approach has strengthened gender representation, community participation, and Indigenous knowledge integration in marine conservation. Culturally, grounded marine governance models have enhanced both biodiversity outcomes and social equity.
The HLP-SRBE has also bolstered international cooperation, improving coordination among Regional Fisheries Management Organizations (RFMOs), Regional Seas Conventions, and global institutions, leading to more cohesive responses to transboundary threats like illegal fishing and marine pollution.
Emerging Issues
Despite significant advances, the HLP-SRBE’s implementation faces several critical challenges:
- Governance Fragmentation: Ocean management remains divided across numerous institutions, lacking coordination mechanisms or binding accountability structures (Matovu, 2024).
- Financing Gaps: The sustainable ocean economy requires an estimated $175 billion annually, yet existing funding remains insufficient (World Resources Institute, 2025).
- Persistent Subsidies: Harmful fisheries and fossil fuel subsidies, amounting to over $1 trillion globally, continue to undermine sustainability goals (Sumaila et al., 2021).
- Scientific Limitations: Many developing nations lack ocean data, monitoring infrastructure, and technical capacity for evidence-based governance.
- Social Inequities: Coastal and Indigenous communities often remain underrepresented in governance and benefit-sharing, while gender disparities persist in maritime sectors.
- Climate Stressors: Rising sea levels, ocean acidification, and intensified weather events threaten to outpace adaptation capacities, testing the resilience of ocean governance systems.
Way Forward
To ensure long-term success, the HLP-SRBE must transition from voluntary coordination to institutionalized global cooperation frameworks.
1. Strengthen Institutional Coordination:
A Global Ocean Governance Coordination Platform should be established to unify efforts across fragmented institutions, facilitate information exchange, and oversee implementation reviews.
2. Scale Financing and Investment:
Adopt blended finance models combining public, private, and philanthropic capital. Expand blue bonds, debt-for-nature swaps, and carbon crediting mechanisms for ocean sequestration to close financing gaps (OECD, 2025).
3. Build Capacity and Technology Access:
Regional centers of excellence can provide developing nations with training, technical assistance, and technology transfer for marine monitoring, pollution control, and renewable ocean energy.
4. Strengthen the Science–Policy Interface:
Invest in ocean observation systems, harmonize data standards, and promote open-access scientific collaboration focused on ecosystem-based management and blue economy innovation.
5. Advance Social Inclusion:
Institutionalize mandatory consultation frameworks for Indigenous communities, adopt gender-responsive budgeting, and ensure equitable benefit-sharing in all ocean projects (Government of India, 2023).
6. Regional Cooperation and Adaptive Governance:
Empower Regional Seas Programs as operational hubs for implementing HLP-SRBE principles, complemented by South–South cooperation for shared learning. Establish early-warning systems for ocean health indicators to enable proactive management.
Through these strategic actions, the HLP-SRBE can evolve into a cornerstone of 21st-century ocean governance, aligning ecological stewardship with economic resilience and social justice.
References
European Commission. (2021). Sustainable Blue Economy Partnership. Horizon Europe Framework Programme. https://bluepartnership.eu/
G20 India. (2023). Chennai High Level Principles for a Sustainable and Resilient Blue/Ocean-Based Economy. Environment and Climate Sustainability Working Group. https://www.g20.in/content/dam/gtwenty/gtwenty_new/document/G20_ECSWG-Chennai_Principles_for_a_BlueOcean-based_Economy.pdf
Government of India. (2023). G20 High Level Principles on Sustainable and Climate Resilient Blue Economy. Ministry of Earth Sciences. https://moes.gov.in/sites/default/files/2023-01/G20-Principles-for-a-Climate-Resilient-and-Sustaianble-Blue-Economy.pdf
High Level Panel for a Sustainable Ocean Economy. (2022). Transformations for a Sustainable Ocean Economy. Ocean Panel. https://oceanpanel.org/wp-content/uploads/2022/06/HLP_Transformations_2023_v5.pdf
KPMG India. (2025). Navigating India’s Blue Economy Landscape. https://assets.kpmg.com/content/dam/kpmgsites/in/pdf/2025/07/navigating-indias-blue-economy-landscape.pdf
About The Contributor:
Aditya Sharma is a Research Intern at the Impact and Policy Research Institute (IMPRI) and is in the first year of his Master’s degree in Environmental Economics from the Madras School of Economics. His interest lies in analysing various programs and policies that are centered around sustainability and development.
Acknowledgement: I sincerely thank Aasthaba Jadeja and Bhaktiba Jadeja for assigning this work and providing consistent support throughout.
Disclaimer: All views expressed in the article belong solely to the author and not necessarily to the organisation.
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