SDG 14 is the least funded SDG and the scale of investment for ocean protection remains insufficient. In SIDS, where economies mostly depend on the ocean, innovative financing mechanisms are needed. The lessons from Cabo Verde’s blue finance exchange (Blu-X) platform were shared in a recent UNDP policy brief. The brief illustrates three overarching points relevant to adoption and implementation of sustainable finance principles that could be considered by other SIDS: 1) Strategic context and political-economic institutions matters; 2) Focus on institutional capacity rather than specific financing mechanisms; 3) A cross sectoral and vertical (local-global) integrated nexus can diversify development finance.
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