The UN took over this workstream from the EU and Andrew was asked to join the working group in light of his work on the Blue Economy and his unique perspective anchored in the experience of real deals he has led and completed and his ongoing work in the ocean sector.
This initiative was set up to help guide the crucial role that banks, insurers and investors can play, in supporting the Sustainable Blue Economy Finance Principles which were unveiled in 2018. The principles provide a guiding framework for financing a sustainable ocean economy, and were developed by the European Commission, WWF, the World Resources Institute and the European Investment Bank.
Building on the momentum of these principles, UNEP FI hosts the Sustainable Blue Economy Finance Initiative; a new platform bringing together financial institutions to work with scientists, corporates and civil society.
Deja Blue encourages you to Join the Initiative. The UN invites financial institutions and organisations to join this leadership initiative and help shape the future of the industry. They work to accelerate the transition towards sustainable use of the world’s ocean, seas and marine resources by developing practical actions and outputs for insurers, lenders and investors. By joining, you will have access to a global community of practice, peer-to-peer learning, blue finance resources and knowledge base, and help shape guidance to deliver a sustainable blue ocean economy. Deja Blue can help find cutting edge new solutions, amplify success, and catalyse change, with a dissemination power at a global level. Download the Brochure, read the Executive Summary or Contact to learn more. Additional Resources: Signatory declaration | Membership application
Andrew is a Director and co-owner of Greenbackers who are at the forefront of the cleantech sector. Greenbackers have a number of innovative programmes to join technology with capital and drive carbon out of the economy .
Andrew is an independent expert assessor of solutions seeking approval from the Solar Impulse Foundation (SIF). SIF was launched by Bertrand Piccard in November 2017 as a means of taking the success of his solar-powered flight around the world further. SIF envisions ecology through the lens of profitability, and sets out to prove that solving climate change is a fantastic market opportunity. A challenge has been set to select 1000 solutions that can protect the environment in a profitable way and present them to decision-makers to fast-track their implementation.
By invitation from the EC's Directorate-General for Climate Action (DG CLIMA), Andrew is assisting with the design and initial operation of the fund.
The EC's Innovation Fund is one of the world's largest funding programmes for the demonstration of innovative low-carbon technologies. It will provide around EUR 10 billion of support over 2020-2030 for the commercial demonstration of innovative low-carbon technologies, aiming to bring to the market industrial solutions to de-carbonise Europe and support its transition to climate neutrality.
Former Head of the Scottish Investment Bank £103m Renewable Energy Investment Fund investing debt & equity in a range of marine, low carbon and community owned renewable energy projects on commercial terms, leveraging in private debt and equity; interacted with the European Commission & European Investment Bank & invested as a gap funder alongside mainstream banks which were encouraged to invest in these challenging sectors.
Former Head of Investment for DP Energy, a renewable energy project development company, with projects across the globe.
Andrew Smith features in the first of a series of 5 MET-CERTIFIED video testimonials. It is an eye witness report explaining the benefit of certification from an investor's point of view to young developers of marine energy technologies. Watch the video here below.