Global Effort to Revolutionize Ocean Finance Launched
An ambitious initiative has been unveiled by a coalition of United Nations agencies and international partners, aiming to unlock significant financial resources for industries reliant on the ocean and blue economy sectors. This groundbreaking endeavor, known as One Ocean Finance, seeks to achieve a trifecta of positive outcomes: facilitating industry transformation, enhancing marine health, and bolstering the resilience of coastal communities worldwide. At its foundation, this call for collaboration invites all stakeholders—governments, businesses, financial institutions, and civil society—to contribute to the creation of a more cohesive and inclusive framework for ocean finance that truly values the ocean as a global resource.
Despite the ocean's critical role in global trade, food security, climate regulation, and livelihoods, investment in Sustainable Development Goal 14 remains alarmingly low. Between 2015 and 2019, less than USD $10 billion was invested, far below the estimated annual requirement of $175 billion. To bridge this substantial funding gap, One Ocean Finance aims to attract new and varied sources of capital, particularly from sectors directly linked to the ocean. By employing innovative financial tools that mitigate risks and encourage private sector involvement, the initiative seeks to channel these funds effectively through a versatile, scalable global platform. Announced at key forums such as the Blue Economy Finance Forum in Monaco and the Third UN Ocean Conference in Nice, the project envisions an inclusive dialogue leading up to its official launch at the Fourth UN Ocean Conference in 2028.
The collaborative process behind One Ocean Finance brings together governments, financial entities, ocean-based industries, the United Nations, and civil society to redefine the future of ocean finance. Through this initiative, the goal is to address decades of underinvestment, consolidate fragmented efforts, and design a system that is fair, adaptable, and responsive to the needs of coastal populations and marine ecosystems. The facility will primarily source its capital from ocean-dependent sectors like shipping, tourism, ports, marine cables, and insurance via mechanisms such as user fees, solidarity levies, ecosystem service payments, and dynamic pricing models. It aims to deploy a comprehensive suite of financial instruments and de-risking tools to catalyze large-scale investments and deliver impactful solutions. By aligning financial flows with ocean health, economic opportunities, and coastal resilience, especially for Small Island Developing States and Least Developed Countries, One Ocean Finance represents a pivotal step towards systemic change and equitable growth.
By fostering smarter, more equitable financing, One Ocean Finance not only addresses environmental challenges but also unlocks potential economic benefits, including millions of new jobs by mid-century. This initiative exemplifies the power of collective action, demonstrating how strategic partnerships can drive innovation and sustainability. Embracing science-driven data and inclusive public-private collaborations, it paves the way for a regenerative and resilient ocean economy. Through bold action today, we can secure a brighter future for both humanity and the planet’s vital marine resources.