The Blue Economy and Finance Forum in Monaco, held as a prelude to the UN Ocean Conference, achieved significant financial results. The Prince Albert II Foundation, the event’s organizer, announced that €25 billion in investments have already been recorded, with an additional €8.7 billion in financial commitments aimed at accelerating the transition towards a sustainable ocean economy.
Capitalization and strategic investments
The Monaco event successfully catalyzed funds to support key ocean transition projects. These investments target the decarbonization of maritime transport and ports, the restoration of marine ecosystems, and the development of marine energy and biotechnology. The Forum’s main goal was to highlight the blue economy – the economy linked to ocean activities – as exceptionally promising and profitable for the entrepreneurial sector.
The birth of new financial initiatives
The Forum gave rise to a series of new financial initiatives. Among them are:
- “Business in Ocean”: This initiative brings together 80 companies with a total turnover of €600 billion. They have committed to integrating investments and positive opportunities for the ocean into their operations.
- “Finance in Commun”: This alliance includes twenty development banks that have pledged to jointly mobilize over $5 billion annually for ocean protection.
Additionally, through the #BackBlue initiative, a coalition of financial actors managing $3 trillion in assets has also committed to integrating the ocean into their investment decisions.
These promises have become actions, with the hope that the financial momentum towards a sustainable blue economy will continue long-term.
