Growing a sustainable blue economy is considered one of the most important tasks and greatest opportunities of our time.

It is critical to achieving the goals of the 2030 Agenda for Sustainable Development and underpins strong oceans economies, healthy oceans and more resilient communities.

We recognise that sustainability is “meeting the needs of the present without compromising the ability of future generations to meet their own needs”. The High-Level Oceans Panel takes this further, referring to ‘the use of ocean resources for economic growth, improved livelihoods and jobs while preserving the health of ocean ecosystems and associated services”.

Just as oceans are seamless, so is our approach to sustainability. With this in mind, we have developed the following sustainability principles to guide our approach to sustainability. The principles enable us to adopt a consistent approach to inform our efforts, as well as how we will promote, support, reflect and communicate sustainability across our work.

Sustainability and environment, social and governance (ESG) directions are at the core of our ways of working and we will further align our operations with the global framework of action under the United Nations Sustainable Development Goals (SDGs).

Our pursuit of sustainability is framed by the following principles:

Oceans stewardship

BE CRC actions and investments should build trust and foster stewardship through transparent, accountable and inclusive decision making.

A Healthy planet

BE CRC actions and investments should protect environmental outcomes by balancing resource use, conserving natural ecosystems and resources, and supporting climate mitigation and adaptation.

People matter

BE CRC actions and investments should contribute to quality-of-life, access and wellbeing, and to an inclusive and fair society.

PROSPERITY matterS

BE CRC actions and investments should grow productivity of the blue economy and allow equitable access to economic and growth opportunities, while efficiently using financial resources.

The Blue Economy CRC applies these principles to our efforts as we play our part in the sustainability agenda by operating in a responsible and inclusive way to deliver value and impact for our participants.

We are further guided by our operational “southern cross”, “a sustainable ocean economy underpinned by our innovative industries and trusted stewardship of our oceans and the services they provide.”

Looking forward, we commit to:

STRATEGIC

  • Integrating ESG into forward reviews of our Strategic Plan.

ESG Integration Plan designed and executed by close of Q4 FY24, then shifts to ongoing

OPERATIONAL

  • Embedding our ESG philosophy, accountability (including exploring baselines) in our operational frameworks, research plans, and outreach and impact activities.

ESG Integration Plan designed and executed by close of Q4 FY24

  • Assigning a regular ESG agenda to the annual BECRC Board Meeting schedule for consideration of emerging directions, learnings and progress for calibration of the BECRC approach.

Inaugural ESG Immersion Q1 FY25, then shifts to Ongoing

  • Including ESG and impact progress in our Annual Report.

Ongoing

Advocacy

  • Setting a pathway for value creation and leadership through our participation in the United Nations Global Compact, including developing an annual calendar of events.

ESG Integration Plan designed and executed by close of Q4 FY24

  • Continuing to build sustainability literacy within our participants, governance mechanisms and Board members through learning opportunities.

Ongoing

  • Championing demonstrations, projects and opportunities that support our participants journeys towards carbon and climate neutral and nature positive while enabling informed dialogue and decision regarding these impacts.

Ongoing

  • Playing our part as a responsible ocean steward.

Ongoing