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Asia's water and ocean economies—from sustainable fisheries to ports, coastal tourism and solutions to plastic pollution—represent one of several frontiers for sustainable investment. The region holds the world's most valuable marine ecosystems and the highest concentration of ocean-dependent communities, giving it both the most to gain and the most to lose. Although global blue bond issuance more than doubled year-on-year to US$15.25 billion by mid-2025, private capital flows into Asia's blue economy remain limited. Moving to a scalable market will require new architecture, and a clearer view of who will build it. Which sectors are closest to commercial scale? And what would it take for institutional investors to increase their allocations meaningfully in the near future?