The Blue Economy and Finance Forum (BEFF), held on June 7–8 in Monaco as part of the UN Ocean Conference, concluded with €25 billion in existing blue investments identified and €8.7 billion in new financial commitments secured. One of the biggest global environmental threats is the increasing danger the ocean faces from climate change as well as human activity. And SDG14–Life Below Water–has been historically and overwhelmingly underfunded.
The BEFF aimed to begin to change that narrative. Organized by Government of Monaco, the Prince Albert II of Monaco Foundation, and the Oceanographic Institute, with backing from France and Costa Rica, the BEFF brought together 1,800 participants from nearly 100 countries, including heads of state, investors, NGOs, and global business leaders.
The Forum catalyzed tangible commitments and forged a long-term vision for a sustainable ocean economy. New pledges include €4.7 billion from philanthropists and private investors and €4 billion from public financial institutions, representing a major step forward in blue finance.
Structural initiatives were also launched. These include the “Philanthropists and Investors in Ocean” alliance focused on high-impact projects in the Global South, and the #BackBlue coalition of financial actors managing $3 trillion in assets. Meanwhile, 80 companies from 25 countries signed the “Business in Ocean” call to action, committing to transparent and ocean-positive practices.
“Everything is now in place to make the major turning point our ocean requires and the world expects,” Prince Albert II said. He emphasized that this forum laid the foundation for a credible, actionable financial coalition, proving that an ambitious and responsible blue economy is not only possible–it is essential.
