Scaling the ocean economy

Two major events this summer — the Blue Economy and Finance Forum (BEFF) in Monaco, and the third United Nations Ocean Conference in Nice — reflected the growing recognition that protecting the ocean is not only an environmental issue, but also a political, economic, financial, and social imperative. The challenge now is to translate this rapidly emerging consensus into concrete, sustained action.

- PRINCE ALBERT II OF MONACO

Covering over two-thirds of our planet and accounting for 97% of its biosphere, the ocean is a critical ally in our efforts to tackle climate change, ensure food security, and support livelihoods. Without a healthy ocean, sustainable development will remain a distant dream. But protecting and restoring marine ecosystems costs money, and financial flows are falling far short of need. To close this gap, ocean protection must be regarded not as charity, but as an opportunity a high-value investment in our collective future.

The vision of a thriving ocean economy that offers both short-term profit and long-term value in terms of food security, employment, and resilience galvanised the political leaders, entrepreneurs, investors, philanthropists, and representatives of multilateral organisations and civil society at the BEFF. The event delivered on its goal of unlocking funding for ocean-positive projects, including through innovative instruments like blue bonds and blended-finance vehicles, which combine public, private, and philanthropic resources. It thus represented an important first step towards anchoring ocean protection where it counts: within the financial industry.