Impact Report: Blue Economy Funds at a Glance
Amsterdam, May 30th 2024: Phenix Capital Group has today released its Impact Report: Blue Economy Funds at a Glance.
The report finds that since 2015, €45 billion has been committed towards blue economy themes tracked by Phenix Capital’s Impact Funds Database. Blue Economy funds which are currently open for investments are targeting a total of €13 billion. Additionally, the number of ocean focused funds in the Phenix Impact Database has grown by 530%.
The ocean flows through practically all of the 17 UN Sustainable Development Goals. More than three billion people rely on it for their livelihoods and more than 350 million jobs are linked to the ocean. It is integral to tackling the global biodiversity crisis too, as highlighted in our April Biodiversity impact fund report.
There are currently 164 funds targeting the blue economy, which is only 5.86% of the database of 2,798 impact funds. The number of funds have grown by 3.8% from 2023, but since 2015 the universe has gone from 26 funds to 164 funds, a growth rate of more than 530%. Of the 120 managers that offer blue economy themes, 40% have open funds.
Next to the insights and analytics provided by Phenix Capital's Impact Fund Database, the report also features a fund manager profile with Tongai Kunorubwe, Head of ESG Fixed Income, T. Rowe Price.
“By focusing on the ocean and the blue economy, we can actually impact a number of factors that in turn directly impact the SDGs, these include food, employment, and of course, climate.” Said Tongai.
Our investor profile this month features insights from the European Investment Bank Group:
- Franck Jesus , Blue Economy Coordinator and Senior Department Climate Advisor, European Investment Bank
- Adelaide Cracco, Head of the Greentech and Social Impact Division, European Investment Fund
- Martin Corredera Silván, Principal Investment Officer, European Investment Fund
“We want to create an environment where we assist emerging managers to come together to grow. We have acted as an anchor or cornerstone investor to most of the funds we back, often by as much as 50% of their total commitments on first closing. This has a strong catalytic effect in attracting further meaningful commitments as well as providing references and support to the managers as they raise funds,” said EIF’s Cracco.
There are currently 164 blue economy related funds from 120 different fund managers tracked on Impact Database. Out of these, 52 funds from 48 organisations are currently open for investments.
Click here to download the report.
For media inquiries or further information, please contact:
Laura Smith
Senior Marketing & Communications Manager
laurasmith@phenixcapitalgroup.com
About Phenix Capital Group
Phenix Capital Group has been delivering impact solutions globally since 2012 to enable institutional investors to make financial-first impact investments. The company has been dedicated to building a solid knowledge base of the impact investing industry, educating asset owners and asset manager with their impact investing intelligence.
About Impact Funda Database
Phenix Capital’s Impact Database provides investors with access to and intelligence on the impact fund market opportunities available to them. Three main variables used to construct, monitor and update the dataset: funds considered have an impact proposition; institutional scale; and target market-rate returns. Impact Database now includes detailed overview of more than 2,500+ impact funds.
