The ocean is increasingly seen as a new economic frontier. While investments are rapidly growing, these are mainly directed to unsustainable practices and a huge funding gap remains to ensure that ocean industries are in line with the aspirations of a truly “blue” economy. Acknowledging the role of financial actors as both gatekeepers and enablers of a sustainable ocean economy, this thesis explores the financial landscape of the 100 largest ocean companies – the ‘Ocean 100’ – which collectively account for 60% of total ocean economy revenues. The study uses a mixed-methods approach, combining network analyses, descriptive statistics, and more qualitative examples, to identify financiers of the Ocean 100 and discuss their potential for incentivizing ocean stewardship. It explores two potential leverage points: the use of sustainable loans and bonds and the influence of shareholders. New sustainable debt instruments that link interest rate to sustainability targets are increasingly used by the Ocean 100 and have potential in becoming a new norm, however, the connection to the ocean remains weak. There is a need for transparency and regulation in the sustainable finance market to ensure quality and to scale up sustainable finance instruments. The results also highlight the financial impact of large passive asset managers whose influence span over several ocean industries, some of which are characterized by high market concentration. As interest in the ocean economy is growing, regulations and public pressure to change investment norms represent a much needed incremental, if not radical, change towards improved sustainability.

The oceans are a key element in our society, economy and environmental system.They cover over 70% of the worlds surface and contribute substantially to ecosystemservices such as climate management as well as to economic sectors such as foodproduction and tourism. While the importance of the oceans for climate changeand the society is generally acknowledged in science and literature, it is often notreflected in policy. Integrated Assessment Models (IAMs) which are used to advicepolicy on carbon prices often systematically omit process and damages related tothe ocean such as ocean acidification, loss of biodiversity and changes in oceancurrents.The aim of this study is to give a more detailed perspective on ocean related processesand their role and importance for the economy under climate change and to testassumptions made in the development of IAMs - and more precisely the DynamicIntegrated Climate-Economy model also referred to as the DICE model. The initialresults of the DICE model resulted in a optimal temperature trajectory with amaximum of 4 ◦C contradicting the goals set with the Paris Agreement.This thesis is the first of its kind attempt in reviewing the most recentbiophysical evidence on climate change impacts with a focus on marine systemsand incorporating these damages to market and non-market sectors into the DICEmodel. The impacts from climate change are implemented into the DICE modelthrough economic valuation of the damages and an update of the damage function.The analysis is based on the damage function used in the original DICE2016R2model as well as the suggested update presented by Hänsel et al. (2020)The results show, that incorporating marine damages into the model yields in amajor increase in economic damages particularly in the temperature range up to 2◦C.These increased damages influence the results of the optimal temperature trajectoryand give a clear indication for a more stringent climate policy, drastically limitingthe maximum temperature increase compared to the original DICE model. / Haven är en viktig del av vårt samhälle, vår ekonomi och vårt miljösystem. De täcker över 70 % av jordens yta och bidrar väsentligt till ekosystemtjänster ekosystemtjänster som klimatstyrning samt till ekonomiska sektorer som livsmedels livsmedelsproduktion och turism. Havens betydelse för klimatförändringarna och samhället och samhället är allmänt erkänd inom vetenskap och litteratur, återspeglas den ofta inteåterspeglas ofta inte i politiken. Integrerade utvärderingsmodeller (IAM) som används för att geom koldioxidpriser utelämnar ofta systematiskt processer och skador relaterade tillhavet, t.ex. havsförsurning, förlust av biologisk mångfald och förändringar ihavsströmmar.Syftet med denna studie är att ge ett mer detaljerat perspektiv på havsrelaterade processeroch deras roll och betydelse för ekonomin under klimatförändringen samt att testaantaganden som gjorts i utvecklingen av IAM - och mer exakt den dynamiskaintegrerade klimat-ekonomimodellen, även kallad DICE-modellen. De förstaresultaten av DICE-modellen resulterade i en optimal temperaturbana med ettmaximalt 4 ◦C, vilket strider mot de mål som satts upp i Parisavtalet.Denna avhandling är den första i sitt slag som granskar de senastebiofysiska bevis på klimatförändringens effekter med fokus på marina systemoch införliva dessa skador på marknads- och icke-marknadssektorer i DICEmodellen. Effekterna av klimatförändringarna implementeras i DICE-modellengenom ekonomisk värdering av skadorna och en uppdatering av skadefunktionen.Analysen baseras på den skadefunktion som används i den ursprungliga DICE2016R2modellen samt den föreslagna uppdateringen som presenteras av Hänsel et al. (2020)Resultaten visar att införandet av marina skador i modellen leder till enstor ökning av de ekonomiska skadorna, särskilt i temperaturintervallet upp till 2◦C.Dessa ökade skador påverkar resultaten av den optimala temperaturbananoch ger en tydlig indikation på en mer stringent klimatpolitik, som drastiskt begränsarden maximala temperaturökningen jämfört med den ursprungliga DICE-modellen.

The ocean economy is growing unprecedentedly, and container shipping is one of the key sectors at the heart of this growth. Shipping companies are among the largest ocean-based companies, and while they are committed to reducing their emissions, the sector remains plagued with many sustainability challenges. This thesis employs a mixed-methods approach to delve into the financial landscape of container shipping and examine the “E” of Environmental, Social, and Governance (ESG) that defines the sector's sustainability dimensions. It starts by highlighting the potential of financiers to incentivise companies toward ocean sustainability, and then through interviews with bank personnel provides insight into their motivations, challenges, risk perceptions, and sustainable lending processes. The results attempt to align actors' motivations along stewardship principles of care, knowledge, and agency. However, the findings reveal that reputational pressures serve as primary drivers of action. Unexpectedly, investor pressure on banks emerges as a promising leverage point. The discussion section of the thesis offers insights on the path to achieving sustainable shipping. It highlights the importance of co-creating solutions across the entire value chain as the banking sector's involvement in container shipping continues to grow.

This thesis analyzes the newly established U.S. National Ocean Policy. Through a content analysis of all obtained sources concerning the opinions on the policy, the main hypothesis is either confirmed or disproved. It can be assumed that Republicans would oppose this policy from obvious ideological reasons, whilst Democrats would support this policy, because it originated from their administrative and follows their positive approach to environmental issues. The ocean is not only for the United States, but also for the whole world an important source of food and various minerals, affects weather, produces a great amount of oxygen and absorbs noticeable amount of pollutants. Its economic potential for the United States is imperative and the worsening conditions of the ocean ecosystems represent an enormous potential threat to the future economic prosperity of the United States. President Barack Obama reinforced this ocean policy, which should response to the worsening conditions of the ocean, aim focus on the improvements of the ocean management and simultaneously enhance the protection of the ocean ecosystems. This policy began its journey in 2010 and was finished on paper in 2013. Its implementation will take many years, during which this political framework should lead to improvement of the ocean...