Background

Healthy oceans are key priority of ADB’s Strategy 2030. In pursuance of this mandate, ADB launched the Action Plan for Healthy Oceans and Sustainable Blue Economies (Healthy Oceans Action Plan) in 2019, which aims to increase investments and technical assistance to $5 billion between 2019 and 2024. The Action Plan focuses on the protection and restoration of coastal and marine ecosystems, the promotion of livelihood opportunities, sustainable blue economies, and food security in the region. ADB has been involved in marine renewable energy in blue economy through financing facilities, technical assistance, and venture funding for small and medium enterprises (SMEs).

A High-Level Investor Forum (HLIF) on The New Ocean Energy Economy was held on 7 February 2023 in Kuala Lumpur, Malaysia. The Forum highlighted the multifunction projects in sea-space which if implemented in a coordinated and integrated way will lead to a range of environmental and socio-economic benefits. The forum also discussed concrete approaches and recommendations for ocean energy sponsors to access development finance especially among MSMEs.

Building on the results of the HLIF, this Deep Dive Workshop will discuss ADB’s engagement in ocean energy through the implementation of the Healthy Oceans Action Plan.
This Deep Dive Workshop will have two 90-minute session focusing on ocean energy technologies and current developments in the region.