The world’s oceans are in trouble. From stifling levels of pollution to habitat devastation and overfishing, the situation is critical, and immediate action is needed if we are to safeguard the future of the oceans and the health of the planet as a whole. In a bold call to action, Prince Albert II of Monaco has taken to social media to invite world leaders, NGOs, the private sector and citizens from around the globe to join in with the Blue Economy and Finance Forum in Monaco this June.

Ahead of the UN Ocean Conference in Nice in June, Monaco will co-host the Blue Economy and Finance Forum in collaboration with France and Costa Rica. The event, set to be held on 7th and 8th June at the Grimaldi Forum, will focus on key industries that intersect with ocean sustainability, including maritime transport, fishing and aquaculture, renewable marine energy, sustainable tourism and marine conservation.

With the global ocean crisis at the forefront, the event will gather key stakeholders to drive urgent action for the sustainable use and protection of ocean resources. It promises to be a pivotal gathering for those committed to shaping a more sustainable future for our planet, with the overarching goal of mobilising the investments, both public and private, needed to build a sustainable blue economy.

On 10th March, Prince Albert II, a staunch ocean conservationist as well as Monaco’s Sovereign Prince, appeared in a video shared by the organisers of the Blue Economy and Finance Forum on YouTube, in which he issued a call to action for everyone, from world leaders to everyday citizens, to take part in the upcoming event.

“We now understand how central the ocean is to our future,” proclaimed the Prince. “Whether we speak about climate, biodiversity or health, or whether we address food, trade or energy, every time we look to the future, our focus inevitably shifts to the ocean. Despite this, we are still struggling to create a world capable of respecting these vast expanses of water and their ecosystems, preserving their delicate balance and safeguarding their wealth. However, we must act now, without delay, to prepare this world through global governance regulations, which will be the focus of the UN Ocean Conference from 9th to 13th June.”

He continued, “True to its traditions, values, and ambitions, the Principality of Monaco has decided to take action for this by organising, with the support of Costa Rica and France, the organisers of the UN Ocean Conference, a dedicated event to advance this goal: the Blue Economy and Finance Forum… But this event will be more than a forum. It will provide a unique opportunity to bring together decision-makers, finance professionals, philanthropists, NGOs and players from the private sector to turn ambition into action. Together, we will drive the investments needed for a sustainable blue economy, both public and private, and lay the foundations for a future that unites human progress with planetary conservation.”

The ocean’s ecosystem services are estimated to be worth nearly €27.5 trillion annually, yet current investment levels fall drastically short of what is needed. To meet the United Nations Sustainable Development Goals (SDGs), funding must increase sevenfold, reaching €160 billion per year. Stakeholders from all sectors and backgrounds have a critical role to play in ensuring these financial commitments are met and that real change is implemented, and Prince Albert is keen to involve all voices in the talks at the Blue Economy and Finance Forum.

“We must develop an economic model commensurate with these evolving requirements,” noted the Prince. “In order to achieve this, we will address key sectors: maritime transport, fishing and aquaculture, renewable marine energies, sustainable tourism, and conservation of the marine environment. We will make the ocean’s immense value tangible, with its ecosystem services representing close to $30 trillion annually. We will explore how to mobilise $175 billion every year to meet the Sustainable Development Goals. Faced with such a challenge, businesses have a pivotal role to play. Governments must provide the impetus, and every stakeholder can be a vital force for change. That is why we must move forward all together.”

The Prince concluded, “That is why I invite you to join us in Monaco on 7th and 8th June to share your vision, discover innovative solutions and be part of the movement shaping the future of the blue economy, the ocean, and our planet.”

For more information about the Forum and how to be a part of this landmark event, click here.

To watch Prince Albert’s speech in full, see below:

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Photo source: Blue Economy and Finance Forum