Ocean stewardship commitment across global businesses

The private sector is increasingly engaging to achieve global sustainability environmental goals, particularly those related to climate and, at a more incipient stage, biodiversity. Nevertheless, an assessment, assisted by natural language processing and artificial intelligence processes, of 2,451 leading companies collectively accounting for 70% of the world market capitalization, of their 2021 sustainability reports, revealed that UN sustainable development goal SDG 14 “life below water”—which aims to promote the conservation and sustainable use of marine ecosystems and biodiversity— was referenced by only 9% of the companies assessed, making it one of the least prioritized among the environmental SDGs. Among the companies reporting on SDG14, 52% of them acknowledged at least one of the pressures they may exert on the health of marine ecosystems, with marine water contamination and chemical condition integrity being the impacts most frequently acknowledged. Of the companies addressing some of their impacts, half approached them primarily from a risk-mitigation perspective, while 35% viewed them through both a risk-mitigation and an opportunity lens. Only 15% currently focus on ocean action primarily as a business opportunity. The results show that companies, particularly the more mature ones, are increasingly aware and are starting to recognize the potential of embracing the regenerative blue economy as an opportunity. These companies are beginning to acknowledge the fact that moving them into the blue economy can facilitate value creation through sustainable practices that benefit both businesses and the environment. Catalyzing awareness and action will help deliver the potential of the private sector to contribute to SDG14, and will support the growth of an emerging blue business sector.