Lead2030 Challenge Winner: Svanika Balasubramanian

The Challenge: Investing in the Oceans

Supported by: Credit Suisse

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The blue economy is the 7th largest in the world, worth nearly $25tr in asset value. Despite this, it is drastically underinvested from a public and private capital point of view.

Estimates suggest that $520bn is lost annually in economic activity and 26 million people are forced into poverty due to coastal natural disasters and ocean degradation.

Preserving our oceans is highlighted by the UN Sustainable Development Goal (SDG) 14, but it also has critical links to many other SDGs. Almost half the global population relies on seafood as their primary source of protein, which helps to address SDG 2, “zero hunger”. Around 60m people are employed in fisheries and aquaculture, the majority of whom operate in small-scale enterprises in developing countries, contributing to SDG 8, “decent work and economic growth”. 

Our oceans generate 50% of the Earth’s oxygen and absorb 25% of all carbon emissions, which are important for people’s health (SDG 3) and climate action (SDG 13).

The health of our oceans impact everyone, but particularly those at the bottom of the economic pyramid. In this way, addressing ocean pollution and advocating for ocean conservation not only has an environmental benefit, but ultimately also a profound economic.

About rePurpose

Svanika is the co-founder of rePurpose, a social enterprise building a global community of conscious consumers going Plastic Neutral.

rePurpose is the world’s first plastic credit platform, offering financing solutions that stem the flow of ocean plastic. For every $0.25 contributed to the platform, rePurpose guarantees to remove and recycle one additional pound of plastic waste, the platform then connects with an ethical impact partner who removes a further 100 pounds of waste from the ecosystem, rendering the business Plastic Neutral. Through the Plastic Credit platform, the business has removed over 200 tonnes of plastic in projects across 3 continents to date.

Lead2030 will support the organisation's goal of diverting over 800 million kilograms of plastic waste away from our oceans and landfills by 2022. The investment will also contribute to a blockchain allowing the team to verify the ethical impact of the waste removal projects.

Learn more about rePurpose

 

 

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