The oceans are crucial to regulating climate and act as “the lungs of the Earth”, with algae and cyanobacteria in seawater providing up to 80 percent of the atmospheric oxygen which we rely on to breathe. The oceans also house over 230,000 marine species, with estimates that there are between one and 10 million species still undiscovered. Alongside their own intrinsic value, many of these marine species provide important goods and services. Collectively, ocean-related services and business are estimated to contribute over USD500 billion to the world’s economy.