From Venture to Vital: Funding Our Ocean's Future
- pvblic
- Jun 5
- 6 min read
Our ocean is not only a source of life, resources, or ecosystem – it is also vital to local and global economies. The concept of the blue economy comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable. Today, if it were a country, the blue economy is equivalent to the world’s 5th largest economy, with an annual economic value estimated at US$3 to 6 trillion, according to UNCTAD. Yet, less than 1% of global climate finance is allocated to ocean-based initiatives.
A major opportunity exists for financing the ocean sector, particularly to scale up innovations that have already demonstrated tangible, real-world benefits for the ocean. This will be the key focus of discussion at the Blue Zone side event “Our Ocean, Our Investment: Unlocking Finance and Innovation for a Blue Future” of the Third United National Ocean Conference, taking place in Nice, France, on 11 June, where global leaders and scientists will explore how we can work together to achieve a sustainable blue future.
Financing to overcome crises
Our ocean, seas, freshwater and coastal ecosystems are facing multiple, intersecting crises–from biodiversity loss and plastic pollution, to overfishing and rising temperatures. In order to navigate these challenges, we must set out to better understand and invest in solutions for the ocean. According to the World Economic Forum, to achieve Sustainable Development Goal 14 “Life below water,” by 2030, $175 billion per year must be invested. The stark reality is that from 2015 to 2019, less than $10 billion was invested. It’s time to change tides and counter these trends.
One innovation rising to this challenge is the NEREUS project, led by Dr. Raffaella Guida and her research group at the University of Surrey’s Space Centre. Working in partnership with the Mauritius Research and Innovation Council and backed by the UNDP Ocean Innovation Challenge, the team developed a satellite-based tool that analyzes discrepancies in satellite data to highlight hotspots for illegal, unreported and unregulated fishing and, on demand, can predict trajectories of vessels approaching Marine Protected Areas. Having NEREUS is like protecting the ocean from unsustainable fishing with eyes in the sky.
In Mauritius, where the project was piloted, early findings suggest a $31 return for every $1 invested through stronger enforcement, sustainable fisheries, and greater economic resilience.
“NEREUS is rooted in academic excellence, but made for real-world users,” said Dr Guida. “We knew patrol boats couldn’t cover these vast areas, so we used space tech to bridge the gap, without overwhelming the people who needed it most.”
“Receiving the UNDP Ocean Innovation Challenge award wasn’t like winning a research grant - it was an urgent call to action,” she added. “Time was short, funding was limited, and the ambition was big. We needed all our motivation, passion and technical excellence to make it work - and it did.”
A new wave of opportunity for people and planet
Local communities are the stewards for unlocking, implementing, and sustaining key aspects of the blue economy. The citizens of Small Island Developing States (SIDS) and Least Developed Countries have faced unique vulnerabilities such as food and water insecurity, shelter insecurity, and livelihood insecurity. These insecurities are more evident in coastal communities, which often endure extreme and persistent shocks due to ever-changing ecological trends, including flooding and storm surges, as well as slow-onset events like coastal erosion and marine biodiversity loss. Deploying marine resources through sustainable management of fisheries, aquaculture, and tourism can bring prosperity and sustainable livelihoods to these populations while safeguarding the health of our oceans. Financing must be socially inclusive, debt sustainable, and tailored to encompass the first-hand experiences of these key communities.
As Dr. Gene Leon, Executive Director of the Development Bank for Resilient Prosperity (DBRP), emphasizes, “True resilience for coastal communities and Small Island Developing States begins when we recognize nature not as an external resource, but as the primary asset for sustainable economic development. Through innovative financial approaches that value marine and terrestrial ecosystems as natural capital, we can ensure these vulnerable communities gain access to inclusive and resilient investments—driving prosperity without compromising the health of their environments.”
The Ocean Innovation Challenge, run by the United Nations Development Programme (UNDP) with seed funding and support from Sweden and Norway through their development organizations Sida and Norad, offers a unique approach to solving critical ocean challenges by identifying, financing, advising, and mentoring truly innovative solutions globally. Leveraging UNDP's presence in over 170 countries and territories, rigorous oversight and processes, OIC ensures that investments are protected and channeled to high-potential projects across diverse organizations that might otherwise lack access to crucial funding, and benefit countries and communities that need them the most but where potentials for success are high. "The OIC and the innovators we’ve worked with have shown us that ingenuity and problem-solving aren't limited to development professionals. We have smart people worldwide offering innovative solutions to global challenges," said Dr. Mary Matthews, UNDP OIC Manager.
The United Nations Oceans Conference
As world leaders, scientists, civil society, and private sector representatives convene for the Third UN Oceans Conference, we must act to make the promise of a blue economy a reality. In Nice, France, PVBLIC Foundation, the UNDP Ocean Innovation Challenge, and the University of Surrey will host the event, "Our Ocean, Our Investment: Unlocking Finance and Innovation for a Blue Future,” on 11 June 2025.
This official side event will bring together a dynamic group of partners—ranging from government officials and development banks to private capital actors and grassroots innovators—to explore how finance and innovation can accelerate ocean sustainability. The conversation will spotlight scalable solutions in ocean finance, and investments that are transforming the way we fund marine protection and blue economy initiatives. With a focus on inclusive development, particularly in coastal communities and SIDS, the session also aims to foster new cross-sector partnerships.
As a longstanding convener of cross-sector partnerships for sustainable development, PVBLIC Foundation submitted the proposal to bring this side event to the UN Ocean Conference to elevate the conversation around innovative finance and inclusive solutions for ocean preservation. Through key initiatives like the Development Bank for Resilient Prosperity (DBRP) and the SIDS Global Data Hub—two of PVBLIC’s flagship programs—the Foundation is working to fill systemic gaps that have historically hindered progress in small island and coastal nations. The DBRP provides access to affordable financing, amplifies the voice of SIDS in global financial reform, and enhances resilience to climate and economic shocks. Meanwhile, the SIDS Global Data Hub, led by PVBLIC’s program, the SDG Data Alliance, leverages cutting-edge data and innovation to strengthen local capacity, promote sustainable investments, and support debt sustainability. Together, these efforts contribute to building a more inclusive and actionable blue economy, aligned with the priorities and needs of the most vulnerable communities.
Beyond the science, Dr. Raffaella Guida believes that through collaborations like these, we have the power to make lasting change.
“I met so many incredible people through the Ocean Innovation Challenge; we are a community from diverse backgrounds, but with one blue heart beating for the oceans,” she said. “Since then, I’ve stopped using plastic bottles, I don’t buy fast fashion, and I only eat certified, traceable fish. These are small personal choices, but they matter. Protecting our oceans starts with the decisions we make every day.”
Find out more about our upcoming event, Our Ocean, Our Investment: Unlocking Finance and Innovation for a Blue Future here.
Sources & Further Reading
UNDP (2023). Blue Economies and Nature-Based Solutions in LAC SIDS. United Nations Development Programme. Read report (see page 9)
United Nations. Regular Process for Global Reporting and Assessment of the State of the Marine Environment. Read more
UN Sustainable Development Goals – Goal 14: Life Below Water. Overview and actions Things you can do
UNCTAD (2023). The Ocean Economy: A $6 Trillion Sector Supporting 3 Billion People. Trade and Environment Review 2023 – Article link
NEREUS Project. A Space-Based Maritime Surveillance System for Fisheries Monitoring and Anomaly Detection. Read here.
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