What are Oceans Worth? US$24 Trillion, Says WWF

Many of us have seen the unbelievable photos of those giant roving garbage patches that float on ocean surfaces. After all, they're hard not to notice. The United Nations says the North Pacific Gyre (aka the "Great Pacific Garbage Patch") is twice the size of Texas, the second-biggest state in the U.S. behind Alaska.

Why, as investors, might oceans be on our radar? For one, if an ocean were a country, it would have the seventh largest economy in the world, according to the World Wildlife Fund. In a comprehensive 2015 action report, WWF estimated the value of key ocean assets to be at least US$24 trillion and the annual "gross marine product" — which it equates to a country's annual gross domestic product (GDP) — to be at least US$2.5 trillion.

The Organisation for Economic Co-operation and Development (OECD), meanwhile, says that the ocean is the new economic frontier for many. In a report titled The Ocean Economy in 2030, the OECD says ocean-related economic activity is expanding rapidly thanks to global population developments, economic growth, trade, technology and more. It projects ocean-based industries to contribute more than US$3 trillion to economic output by 2030.

As well, some investors choose to take a "green" approach to their investing style, meaning a focus on responsible investing, which incorporates environmental, social and corporate-governance considerations.

Regardless of how you choose to invest, World Oceans Day on June 8 provides an opportunity to celebrate the good news in the battle to save the world's oceans.

Here are five highlights: Canadian Goals

In April, the Canadian government launched Canada's Dialogue on Plastic Waste to compile Canadians' views on plastics, find ways to reach zero plastic waste and to reduce marine litter. Separately, after reaching its interim target of 5 per cent at the end of 2017, Canada has committed to increasing the proportion of protected marine areas to 10 per cent by 2020. That means certain environmentally sensitive areas will no longer allow bottom-trawler fishing, which involves dragging open fishing nets along the sea floor.

Corporate Initiatives

Among big companies, soft-drink giant Coca-Cola has committed to recovering one bottle or can for each one sold by 2030, while Evian plans to make all its plastic bottles from recycled materials by 2025, according to nonprofit advocacy group Ocean Conservancy. The nonprofit group also last year partnered with a number of big firms, such as PepsiCo, 3M, Procter & Gamble, the World Plastics Council and more to create a funding mechanism to prevent plastic waste from leaking into oceans.

High-Tech Developments

There's always lots happening in the tech world. Scientists in the U.K. have created a mutant enzyme which breaks down plastic bottles in a matter of days instead of decades or centuries, British newspaper The Guardian reported. Innovators have also created packets made of a seaweed-based material for individual-sized offerings of things like soy sauce, shampoo, noodle flavourings and more. Many upstarts are also now focusing on taking hard-to-recycle plastics and turning them into more valuable items.

Low-Tech Options

For some in Newfoundland, measuring plastic debris in the ocean doesn't take high-tech scientific equipment. The Economist featured a device called “Baby Legs" developed by a geographer for water monitoring. Made from a pair of toddler's tights attached to a plastic bottle, the device is dragged behind a boat to sieve surface water for plastic pollution.

Fashion Forward

The deadliest material to marine animals is abandoned fishing gear, followed by plastic bags, but clothing is also a concern. According to a report by the Ellen MacArthur Foundation, clothing releases half a million tonnes of microfibres into the ocean each year (equivalent to more than 50 billion plastic bottles), and contributes 1.2 billion tonnes of greenhouse gas emissions annually — more than is generated by all international flights and maritime shipping combined. Luxury fashion designer Stella McCartney, as well as brands such as Adidas and G-Star Raw, are exploring the use of recycled materials to help address the issues.