Gathering for ocean protection turns out to be the most attended UN conference yet, setting the stage for the adoption of a treaty to safeguard high seas.
The recent conclusion of the Third United Nations Ocean Conference (UNOC3) in Nice, France, marked a significant milestone in the global effort to protect and sustainably manage the world's oceans. With over 15,000 participants from 120 countries and 55 heads of state and government in attendance, the conference aimed to support the implementation of Sustainable Development Goal (SDG) 14, which focuses on conserving and sustainably using the oceans, seas, and marine resources.
The current status of global funding for SDG 14 reveals a significant gap between financial needs and actual investments. Since 2010, about $30 billion has been committed globally, but the estimated need is around $175 billion per year to effectively conserve and sustainably use oceans, seas, and marine resources[2]. SDG 14 remains the least funded among all Sustainable Development Goals, with investments of less than $10 billion between 2015 and 2019, highlighting chronic underinvestment in ocean health[3].
To address this critical funding shortfall and accelerate progress toward achieving SDG 14 by 2030, several key initiatives and efforts have emerged recently. One of the most prominent is the One Ocean Finance initiative, launched at the Blue Economy Finance Forum in Monaco and continued at the UN Ocean Conference in Nice in June 2025. This initiative aims to mobilize new, diverse capital sources, particularly from ocean-linked sectors, and focuses on innovative blended financial instruments that can de-risk investments and attract private sector funding[3][5].
Another initiative is the Ocean Investment Protocol, developed by UNEP Finance Initiative (UNEP FI) and the UN Global Compact. The Protocol provides a framework for financial institutions, insurers, development banks, and ocean-based industries to align their capital flows with SDG 14 and related commitments. It offers guidance on managing environmental risks and seizing sustainable investment opportunities, helping the finance industry proactively support a resilient ocean economy[1].
UNEP FI’s Sustainable Blue Economy Finance Initiative (SBE FI) also supports financial institutions in redirecting investment toward ocean health. In 2025, it is engaging across multiple high-profile events to advance ocean finance, including the UN Ocean Conference and the Blue Economy & Finance Forum[1].
There is also advocacy for establishing specific finance facilities, especially tailored to vulnerable groups like Small Island Developing States (SIDS), to ensure direct access to grants and concessional finance for ocean conservation and sustainable use projects[5].
Government and stakeholder commitment is crucial in this endeavour. Several countries and regions have reaffirmed their commitment to ocean protection through policy measures such as expanding marine protected areas and promoting sustainable fishing. International cooperation and private sector engagement are increasingly emphasized to scale up financial flows for the ocean[2][3].
Rodrigo Chaves Robles, President of Costa Rica and co-president of the Conference, warned that in 25 years, there would be more plastics than fish in the ocean. Achieving SDG 14 by 2030 will require an estimated US$175 billion per year. Small-scale fishers, essential to the solution for sustainable ocean management, are at the forefront of the solution, according to Jörn Schmidt of global nonprofit WorldFish.
As the world grapples with the challenges of climate change, food security, and biodiversity loss, the ocean plays a crucial role. The ocean absorbs a quarter of the carbon dioxide produced by human activities, and it is home to over 200,000 known marine species. However, current practices threaten this delicate balance. Less than 3% of the ocean is effectively protected, and less than 1% of global biodiversity and climate finance reaches marine ecosystems[2].
The High Seas Treaty, which aims to protect biodiversity in areas beyond national jurisdictions, needs 10 more ratifications to enter into force. The International Maritime Organization (IMO) has also announced measures to reduce plastic discharge and underwater noise.
In summary, there is a growing global recognition that SDG 14 requires substantially increased and innovative financing mechanisms. Efforts involving public and private sectors, new financial frameworks like the One Ocean Finance mechanism, and protocols guiding sustainable investment are underway to bridge the current finance gap and ensure that ocean health, a crucial foundation for climate stability and food security, is restored and maintained by 2030[1][2][3][5].
- Despite the massive financial needs for Sustainable Development Goal (SDG) 14, which focuses on ocean conservation, annual investments amount to less than $10 billion, indicating a chronic underinvestment in ocean health.
- To bridge this funding gap and accelerate progress towards SDG 14 by 2030, initiatives like the One Ocean Finance initiative have emerged, aiming to mobilize new capital sources and attract private sector funding.
- The Ocean Investment Protocol, developed by UNEP Finance Initiative (UNEP FI) and the UN Global Compact, provides guidance for financial institutions to align their capital flows with SDG 14 and related commitments.
- Governments and stakeholders must commit to policy measures such as expanding marine protected areas and promoting sustainable fishing to protect and sustainably manage the oceans.
- There is an advocacy for establishing finance facilities specifically for vulnerable groups like Small Island Developing States (SIDS) to ensure direct access to grants and concessional finance for ocean conservation and sustainable use projects.
- Climate change, food security, and biodiversity loss are global challenges, and the ocean plays a crucial role in absorbing carbon dioxide and hosting over 200,000 known marine species. However, current practices threaten this delicate balance, with only less than 3% of the ocean effectively protected and less than 1% of global biodiversity and climate finance reaching marine ecosystems.
