UNEP unveils initiatives to promote invetment in the ocean - described as "vastly underfinanced and increasingly under threat."
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Two high profile ocean events this month - the third United Nations Ocean Conference (UNOC3) in Nice, and The Blue Economy and Finance Forum (BEFF) in Monaco - brought ocean finance to the forefront of the global sustainability agenda, with a raft of new finance and policy initiatives in support of ocean health and the blue economy announced by the UN's Environment Programme Finance Initiative (UNEP FI).
Describing the "key takeaways" for financial institutions, UNEP argued that the ocean is currently "vastly underfinanced", despite its crucial role in climate, biodiversity, and the global economy. However, three major new finance initiatives, combined with two significant environmental treaties, could bring significant new opportunities for ocean-based sectors, including aquaculture, fisheries, seaweed and marine conservation - and the financial institutions that invest in them.
As previously reported by WeAreAquaculture, one of the most significant initiatives launched this month was the Ocean Investment Protocol, developed by the UNEP FI in partnership with the UN Global Compact. The Protocol is described as “a clear framework for mobilizing and scaling investment in a sustainable blue economy.”
Building on the Sustainable Blue Economy Finance Principles, the protocol outlines how financial institutions, policymakers and industry leaders can align with Sustainable Development Goal 14: Life Below Water. For the finance sector, it offers “a practical pathway to lead and support the transformation of ocean-related industries," UNEP said.
UNOC3 also saw the introduction of One Ocean Finance, a new global public-private finance mechanism aimed at pooling and directing large-scale investment into "ocean-positive" projects. UNEP, alongside key partners such as UNDP and UNCDF, announced the initiative as a means of “mobilizing billions in funding for the sustainable blue economy.”
According to UNEP, the mechanism "seeks to unlock underutilized capital from ocean-dependent industries through a global platform designed to be agile, scalable, and targeted. The goal is to drive a triple win: accelerate industry transition, restore ocean health, and strengthen coastal community resilience."
The platform will work by pooling resources and offering flexible funding tools that reduce financial risk, especially for projects that currently struggle to attract investment. The goal is to create a system that values the ocean not just as a source of economic activity, but as a vital global asset that needs long-term care and coordination, UNEP FI said.
UNEP FI noted that financial institutions have a significant role to play in this, and these are invited to take part in shaping the mechanism’s design via an open Call for Engagement.
“This collaborative process will bring together governments, financial institutions, ocean industries, the United Nations, and civil society to collectively shape a new financial future for the ocean,” said Inger Andersen, Executive Director of the United Nations Environment Programme, in a press release.
“Through the development of One Ocean Finance, our goal is to address decades of chronic underinvestment, consolidate fragmented efforts, and design a system that is equitable, agile, and responsive to the needs of coastal communities and marine ecosystems," Andersen added.
Kelp forests provide shelter, habitat and food for marine wildlife.
The concept of marine biodiversity credits was also introduced at UNOC3 as a potential mechanism to reward measurable gains in ocean conservation.
The proposed tradeable credits would represent verified improvements in marine biodiversity, such as the restoration of key habitats or protection of endangered species. According to UNEP FI, the credits would offer financial institutions "a new tool to invest in nature-positive outcomes while meeting sustainability goals".
UNEP FI is co-facilitating the Biodiversity Credit Alliance, which is working to ensure that these emerging markets are “credible, transparent, and scalable.” During the conference, attention was given to how such credits might apply specifically to coastal and marine ecosystems.
For aquaculture, seaweed farming, and small-scale fisheries engaged in ecosystem restoration or sustainable practices, biodiversity credits could offer both a financial incentive and a way to demonstrate commitment to environmental goals.
Pictured: participants at the special treaty ratification event at the UN Ocean Conference on Monday 9 June.
The BBNJ Agreement, often dubbed the High Seas Treaty, also made headlines this month, as 19 new countries announced their ratification, bringing the total to 50 of the 60 needed for the treaty to come into force.
UNEP FI said it is actively involved in helping design the treaty’s financial mechanisms, emphasising its potential to open new investment channels.
"This progress is significant for the finance sector, as the treaty could drive stronger regulation of high seas activities like overfishing and boost investment in marine research, conservation, and sustainable ocean use," UNEP said.
With negotiations ongoing, the future Global Plastics Treaty is already shaping discussions around sustainability in the seafood sector, especially given the industry’s exposure to plastic use and pollution.
At BEFF, UNEP FI co-hosted an event focused on the treaty’s implications, having previously convened the Finance Leadership Group on Plastics. The goal is to help financial institutions anticipate the treaty’s likely impact on regulatory compliance, supply chains, and investment risk.
“Early engagement is critical,” UNEP said, highlighting that the treaty is expected to “reshape business practices around plastic production, usage and pollution.”