Blue Finance: Financial Innovation for Sustainable Oceans

Abstract

We review the literature on blue finance to develop a conceptual framework. We include peer-reviewed studies and selected policy reports in our analysis. These aid in the mapping of instruments, governance mechanisms, and financial technology (fintech) - enabled monitoring. This nascent topic links capital raising and allocation to the use of ocean resources. It is aligned with United Nations Sustainable Development Goal 14 (conserving and sustainably using oceans, seas, and marine resources). Through the literature, we examine blue bonds, debt-for-nature swaps, and blended finance. We assess how the literature links risk and return to impact credibility. We illustrate how fintech supports monitoring, verification, and disclosure. Our PRISMA analysis identifies substantive research on governance, particularly in the areas of marine protected financing, coastal resilience, and regulatory frameworks. These concepts ensure credible measurement and reduce information asymmetry. In this context, we discuss how digital finance mechanisms, including blockchain verification and blue carbon markets, can enhance transparency and traceability. We argue that blue finance can shift investor preferences and reduce the risk of “blue-washing,” the equivalent of greenwashing.

Received: 21 October 2025 | Revised: 2 February 2026 | Accepted: 5 March 2026

Conflicts of Interest

The authors declare that they have no conflicts of interest to this work.

Data Availability Statement

The data that support this work are available upon reasonable request to the corresponding author.

Author Contribution Statement

Daniel Broby: Investigation, Resources, Data curation, Writing – original draft, Writing – review & editing, Visualization, Supervision, Project administration. Jose Vicente Camus: Investigation, Resources, Data curation, Writing – original draft, Writing – review & editing.