PROBLUE is a Multi-Donor Trust Fund, housed at the World Bank, that supports the development of integrated, sustainable and healthy marine and coastal resources. The Nordic countries were among the founding donors to the fund. With the Blue Economy Action Plan as its foundation, PROBLUE contributes to the implementation of Sustainable Development Goal 14 (SDG 14). PROBLUE is furthermore part of the World Bank’s overall blue economy program, which is worth around $5.6 billion in active projects (as of March 2020).
PROBLUE focuses on four key areas:
- The management of sustainable fisheries and aquaculture
- Addressing threats posed to ocean health by marine pollution, including litter and plastics, from marine or land-based sources
- The sustainable development of key oceanic sectors such as tourism, maritime transport and off-shore renewable energy
- Building government capacity to manage marine resources, including nature-based infrastructure such as mangroves, in an integrated way to deliver more and long-lasting benefits to countries and communities
Cross-cutting issues such as poverty, livelihoods, gender, climate change and maximizing finance for development, are interwoven throughout the program.
PROBLUE recently launched two reports about charting a course for decarbonizing maritime transport. Shipping has come under increased pressure to address its negative environmental impacts. Against this backdrop, the reports make the case that strategic policy interventions are needed to not only hasten the sector’s energy transition, but also to seize opportunities for wider economic, energy, and industrial development in developing countries.
A meaningful carbon price for instance would create a level playing field for development and utilization of zero-carbon bunker fuels. Revenue generated by such a market-based measure can help support developing countries in their energy transitions and accelerate crucial research, development, and deployment of these fuels. At the same time, business should also focus on “no-regret” options, such as increased energy efficiency and maximum fuel flexibility. Ultimately, constructive collaboration between industry stakeholders and policymakers, both at the International Maritime Organization (IMO) and on a national/regional level, can create greater certainty on the availability, pricing, and timing of zero-carbon bunker fuels which can further boost their rapid uptake from 2030.
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