Protecting Bermuda’s oceans will lead to more opportunities in tourism, finance, science and other industries on the island, members of the public heard last week.

A panel discussed the economic benefits of the Bermuda Ocean Prosperity Programme at the Bermuda College library on Thursday.

The BOPP is a partnership between the Government, the Bermuda Institute of Ocean Sciences and the Waitt Institute, with goals to responsibly develop the marine economy to diversify national revenue.

Its work includes the development of a marine spatial plan that aims to fully protect 20 per cent of waters around the island.

The panel last week comprised Sarah Brooks, the BOPP’s marine spatial planning implementation manager, Cheryl-Ann Mapp, its blue economy specialist, and Jessica Mello, a tourism representative for the programme’s steering committee.

It was moderated by Yelena Packwood, the BOPP’s senior communications manager.

Ms Mello highlighted how protecting Bermuda’s oceans could bring more tourists to the island.

She explained: “One of the big trends in tourism now is that people want much more authentic local experiences, whether that’s related to culture or the natural environment, so I think there’s a lot of opportunity for entrepreneurs in Bermuda to develop more authentic experiences.

“When I say ‘authentic’, I mean the kinds of things that we all like to do on our weekends or the ways that we spent our childhoods, enjoying what Bermuda has to offer.”

Ms Mapp said part of the private-public Bermuda Ocean Prosperity Fund — gazetted last year with hopes to raise $60 million for projects and businesses in areas such as sustainable fisheries, sustainable tourism, marine technology and renewable energy — would help position Bermuda as the “Atlantic hub for blue finance”.

She told the audience: “Everyone is aware that Bermuda has a very strong position globally as a reinsurance centre and insurers are committed to environmental and social governance criteria that they wish to meet from a compliance perspective.

“We are wanting to have an opportunity, through the ocean fund, to allow them to make investments in sustainable projects that will realise those goals.”

Ms Mapp hopes that the fund will also provide a space for local entrepreneurs to think outside the box.

She explained: “We go through the stages where we have an incubator programme that is supported through the fund.

“Part of the fund will also be allocated towards in-seed capital for businesses that wish to scale and opportunity for direct investment where people are having a return on their investment in a viable business venture that is operating quite successfully, and that people want to participate in.”

Ms Mapp added: “There is nothing out of reach when it comes to what we can do for blue businesses in Bermuda, we are set up and designed to give our full support behind that.”

Ms Brooks said none of the opportunities would be possible without a marine spatial plan in place.

She explained: “Ocean use is not just about protecting the environment, it’s also about managing how people fish, how they use the space for tourism or for renewable energy.

“Marine spatial planning is designed to balance all of that so it works together so that every ocean use gets the opportunity to reach its potential.”

She said: “Bermuda’s ocean is not just scenery — it’s infrastructure, it’s our jobs, it’s our food system and it’s our tourism economy.

“Like any other asset, if we overuse it and don’t allow it to recover, then it’s going to decline, but if it’s well-managed and we invest in it, it will continue to provide value back to us tenfold, consistently, long into the future.”