More than €33.7 billion is now in motion to fund the future of the ocean, following two days of high-level negotiations and announcements in Monaco. The Blue Economy and Finance Forum, held on 7th and 8th June, turned international ambition into financial reality, with billions committed to marine restoration, clean shipping, and ocean innovation.
With delegates arriving from nearly 100 countries – among them seven Heads of State – the Blue Economy and Finance Forum wasn’t just another environmental conference. It was a pivot point. Over 1,800 participants filled the halls of the Principality to negotiate, commit and collaborate.
The outcome? According to figures released by the Monaco Government on 11th June, €25 billion in existing investments have already been allocated to ocean-related projects. These range from the decarbonisation of shipping and ports to marine ecosystem restoration, offshore energy, and blue biotechnology.
In addition, €8.7 billion in new financial commitments were secured during the Forum, with €4.7 billion from private investors and philanthropists, and €4 billion from public financial institutions. These funds are expected to contribute directly to the implementation of the Global Biodiversity Framework and the recently adopted agreement on marine biodiversity in areas beyond national jurisdiction (BBNJ).
Monaco at the centre of a growing global coalition
Held as a prelude to the UN Ocean Conference in Nice, the Forum brought together 1,800 participants from nearly 100 countries, including seven Heads of State. The event marked a significant acceleration in both the scale and coordination of blue finance.
The Forum’s co-chairs, Ilana Seid and Pascal Lamy, announced the formation of a structured coalition that will guide the sector in the years ahead. This approach, they said, combines long-term strategy with immediate action, and reflects a shared understanding that the ocean is central to climate, food, and economic stability.
Corporate and financial sectors join the effort
The private sector made its presence felt through the ‘Business in Ocean’ declaration, signed by 80 companies from 25 countries. Representing a combined €600 billion in annual revenue, these firms pledged to incorporate marine considerations into their business strategies, assess their ecological impact, and support community-based solutions.
Meanwhile, the launch of the #BackBlue Commitment Ocean Finance coalition added a significant financial dimension. With $3 trillion in assets under management, participating institutions have agreed to consider ocean sustainability in investment decisions. A further alliance of 20 development banks, now operating under the Finance in Common framework, announced the availability of $7.5 billion annually for marine projects aligned with Sustainable Development Goal 14.
Support for high-impact projects in the Global South
Recognising the importance of inclusivity, the Forum also introduced the ‘Philanthropists and Investors in Ocean’ initiative. Designed to direct capital towards ecologically and socially meaningful projects, it will prioritise efforts in vulnerable coastal regions, particularly in the Global South.
In his closing remarks, Prince Albert II described the Forum as a moment of genuine alignment between governments, markets, and civil society. “We must build more of these alliances,” he said. “In just two days, I think something has shifted. […] Occasionally, albeit too rarely, positive momentum does occur and what we have witnessed here in Monaco is precisely that. We witnessed it throughout our discussions: everything is now in place to make the major turning point our ocean requires and the world expects.”
See more:
Prince Albert II rallies global leaders In Nice: “The Ocean can’t wait”
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Photo source: FPA2