Blue Finance, Sustainability, and Maritime Security: Insights from Seychelles

Blue Finance, a concept broadly describing an investment in a sustainable ocean economy (also referred to as the Blue Economy), is increasingly being invoked by a wide range of stakeholders in the maritime domain. Yet, a consensus definition of what constitutes a ‘sustainable’ ocean economy does not exist. This chapter explores the role that different understandings of ‘sustainability’ play in the financing of the Blue Economy. It introduces Blue Finance instruments, identifies key capital providers and initiatives, and assesses existing principles for financing a sustainable ocean economy. Taking Seychelles as a case in point, the chapter critically discusses the approach employed by its government in financing its Blue Economy. It analyses which aspects of sustainability are emphasised, and how the link between sustainability and maritime security is addressed in Seychelles’ Blue Economy strategy. In doing so, it highlights the need to balance the economic, social, and environmental dimensions of sustainable development while also accounting for maritime security considerations.