The University of North Carolina Wilmington (UNCW) has introduced a revolutionary stock market index called the Blue Economy Index, aimed at tracking economic activities tied to oceans and waterways while emphasizing environmental impact. This first-of-its-kind tool measures the performance of publicly-traded companies operating in sectors like renewable ocean-based energy, fish farming, cruise lines, and offshore shipping, with a special focus on environmental, social, and governance (ESG) factors.
The global Blue Economy, valued at $24 trillion and projected to double by 2030, lacked a comprehensive way to track its performance—until now. Developed in collaboration with the Cameron School of Business (CSB), the Center for Innovation and Entrepreneurship (CIE), and other partners, the Blue Economy Index was launched on Bloomberg in February 2024 under the ticker BLUEECO.
Miran Hossain, associate professor of finance, highlighted the importance of the index: “There is no easy solution to track the performance of the Blue Economy, but our index solves this problem.”
The index methodology, which weighs companies based on their ESG scores, was a result of years of research involving UNCW students, faculty, and industry experts. The Blue Economy Index aims to provide a tool for investors, businesses, and policymakers to monitor and promote sustainable ocean-related activities.
This initiative is part of a broader effort to position Wilmington as a leader in the Blue Economy, leveraging its proximity to the second-largest coastline in the U.S.
