And Jane, as an Ocean Governance Advisor at the Commonwealth Secretariat, can you touch on the importance of the BBNJ Agreement for Commonwealth countries, including the opportunities and challenges you've seen around implementation? And how is the Commonwealth Secretariat supporting member countries in this area?

Sure, yeah.

So the BBNJ Agreement is particularly important for Commonwealth countries because many of our member states are what's called large ocean states including small island developing states whose economies food security livelihoods and cultures are deeply connected to the ocean the agreement creates an important opportunity to strengthen international coordination around conservation and sustainable use of marine biodiversity while also supporting opportunities to participate in scientific research and innovation capacity building and wider ocean governance processes At the same time, implementation presents real challenges.

Many countries are working within limited financial and institutional capacities, and implementation really requires coordination across multiple ministries and sectors, as well as updates to domestic legal and policy frameworks.

There is also a need to ensure that countries are well positioned to engage effectively in future BBNJ decision-making processes and negotiations.

The Commonwealth Secretariat is supporting member states through a comprehensive BBNJ implementation support programme, and this has included a webinar series and briefing notes providing guidance on ratification and implementation, as well as broader national capacity building support across

So, Jane, starting with you, where do you see capital flowing today in the blue economy? What sectors are playing the biggest role?

So at the moment, we're continuing to see significant capital flow into some of the more established ocean sectors, such as shipping, ports and logistics, fisheries and aquaculture, coastal tourism, and increasingly into offshore renewable energy, particularly offshore wind.