Ocean Finance

The National Flood Insurance Program has paid more than $38 billion in claims since 1978. It was meant to be a self-supporting system, but currently costs American taxpayers $200 million per year. In this episode of World Ocean Radio, host Peter Neill will outline some of the reasons why this program is not working, especially as extreme weather becomes more prevalent, increasing levels of destruction.

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In this episode of World Ocean Radio, host Peter Neill continues a discussion of the Global Environment Facility/ United Nations Development Program "Catalyzing Ocean Finance" report and provides two examples of well-executed sustainability measures: the Black Sea Drainage Basin and the Yellow Sea Large Marine Ecosystem.

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Recently, the Global Environmental Facility and the United Nations Development Program combined their talents and experience to address ocean solutions on the scale required to make a difference. In this episode of World Ocean Radio, host Peter Neill will begin to outline the findings of their work, which have been published in a two-volume journal entitled "Catalyzing Ocean Finance."

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At The Economist's World Ocean Summit in Singapore in early 2012, World Bank Group president Robert B. Zoellick announced that they are turning their attention to the ocean, partnering with NGOs to the tune of 1.5 billion dollars in what will be called The Global Partnership for Oceans.