This chapter explores the ethics in the blue economy - understood as marine industries ostensibly operating in sustainable ways. The ethics of the blue economy is highly complex, a result of covering an ever-increasing multitude of overlapping activities, some with long supply chains and many with significant social, economic and ecological impacts, occurring in dynamic environments often hidden from the view of communities and regulators, and by industries expanding rapidly in scale and technology. In unpacking this complexity, this chapters consider the types of (governing) values that the blue economy should aim to achieve, including both humanist and ecocentric values, and with a particular focus on sustainable development and finance. It also explores the types of (governance) values that the blue economy should employ as it pursues these larger values. It further examines how the ideas of institutional integrity and multidimensional legitimacy can help the blue economy garner stakeholder and community support.