"Some of the world’s largest companies have a direct stake in the viability of the ocean as a resource," says Katherine Garrett-Cox, CEO of GIB Asset Management, part of Gulf International Bank.

"The aggregate total debt outstanding of the ‘Ocean 100’ – the largest companies operating in the ocean industry – amounts to circa $1.8trn. In aggregate, 42% of these companies show improving ESG scores, suggesting a significant opportunity for refinancing through sustainability-linked debt, which can offer lower financing costs to borrowers that improve their sustainability scores over time. This has the potential to create a virtuous cycle of improvements."