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UN global partners launch ‘one ocean finance’ to revolutionize ocean funding

 By Faridat Salifu

A coalition of united nations agencies and global partners launched the co-design process for one ocean finance on sunday, an ambitious new initiative aimed at transforming how the world funds ocean conservation and blue economy sectors.

announced at the blue economy finance forum recently in monaco, one ocean finance is intended as a scalable, fit-for-purpose global platform that will mobilize billions in untapped capital from ocean-dependent industries. the initiative seeks to deliver “triple-win” outcomes by supporting industry transition, restoring ocean health, and strengthening coastal community resilience.

the call for engagement, issued as part of the launch, invites participation from governments, industry leaders, financial institutions, and civil society in co-developing a more inclusive and coherent financial architecture that recognizes the ocean’s value as a global asset.

“despite the ocean’s vital role in climate regulation, food security, trade, and livelihoods, sustainable development goal 14 remains the least funded,” said inger andersen, executive director of the united nations environment programme (unep). “one ocean finance will help address decades of chronic underinvestment, consolidate fragmented efforts, and create a system that is equitable, agile, and responsive.”

between 2015 and 2019, less than $10 billion was invested in ocean-related sustainable development, far short of the estimated $175 billion needed annually. the new facility aims to close this gap by leveraging blended finance models, de-risking innovation, and drawing capital from sectors such as shipping, tourism, ports, marine cables, and insurance.

the platform will use mechanisms including user fees, ecosystem service payments, solidarity levies, and dynamic pricing. it will also deploy tools like catalytic grants, patient capital for innovators, and blended finance instruments to attract private investment at scale.

the effort is being spearheaded by a multi-agency coalition including unep, the united nations development programme (undp), the united nations capital development fund (uncdf), the intergovernmental oceanographic commission of unesco (unesco-ioc), the united nations global compact, the united nations world tourism organisation (un tourism), the international union for conservation of nature (iucn), and the world resources institute (wri).

“today’s ocean finance is too fragmented, too inequitable, and too slow,” said pradeep kurukulasuriya, executive secretary of uncdf. “this initiative will create a purpose-built platform to deliver high-impact solutions and empower communities protecting ocean ecosystems.”

scientific data and sustainability metrics will guide funding decisions under the new framework. “a one ocean finance facility offers a way to embed the ocean’s health into financial systems,” said vidar helgesen, executive secretary of unesco-ioc.

stakeholders stressed the urgency of aligning ocean finance with sustainable development. “we must decouple tourism and industry growth from environmental degradation,” said zurab pololikashvili, secretary-general of un tourism.

mina epps of iucn described the initiative as a “rare opportunity to rethink global finance in service of nature-positive outcomes and equitable growth.”

once operational, one ocean finance will complement existing funding efforts while prioritizing support for small island developing states and least developed countries. the platform is expected to formally launch at the fourth un ocean conference in 2028.

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