Sustainable, inclusive and equitable development and expansion of the Blue Economy hinges on deliberative and responsible negotiations and an understanding of the distribution of benefits, resource ownership and risks within community and interest groups and Indigenous Peoples. In this review we examine questions of governance and mechanisms for Indigenous participation and inclusion in the distribution of economic benefits, and monitoring and managing environmental and cultural impacts of Blue Economy industries. We suggest a shift in practice of social licence to operate such that consent is granted by Indigenous groups based on their perspective of social licence at all stages of the project life-cycle and at each interface where new social and cultural risks and opportunities emerge. Such a shift in practice across the Blue Economy requires the consideration of multiple collaborative arrangements and a platform for Indigenous driven transformation in how Indigenous Peoples participate in Blue Economy sectors and in business agreements based on their particular historical, social, cultural and economic context and goals. Such as an arrangement centres on new competencies that includes adaptive capacities within the particular blue economic partnership governance systems.