The future of blue finance took an important step forward in early June, as two major international events – the Monaco Blue Economy and Finance Forum (BEFF) and the United Nations Ocean Conference (UNOC) in Nice – convened to accelerate solutions that can scale financing for ocean protection.
Across both forums, there was evident progress: from treaty ratifications to new public-private funding pledges, the events underlined how marine ecosystems are now firmly at the heart of the climate resilience agenda.
A platform for scale and delivery
UNOC brought together more than 60 heads of state, 115 ministers and nearly 12,000 participants from governments, finance, civil society and science. A key outcome, the High Seas Treaty – also known as the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement – moved closer to becoming a reality as a new wave of countries ratified it in the margins of the Conference. Ten more ratifications are needed before the treaty can become the first legally binding international framework for protecting marine biodiversity in areas beyond national jurisdiction.
Another meaningful step forward was the unveiling of the Nice Ocean Action Plan, which captured over 800 new voluntary commitments covering areas such as marine protected areas, plastic pollution, sustainable fisheries and ocean data.
France announced the creation of a 1.6 million km² marine protected area around French Polynesia – the largest MPA in the world – while countries including New Zealand and Pakistan unveiled new or expanded marine protections.
New financial pledges also emerged. The European Investment Bank, Asian Development Bank and other DFIs committed over EUR3 billion in new ocean-focused financing. The Development Bank of Latin America (CAF) pledged US$2.5 billion for marine and coastal investment between now and 2030.
Mobilising finance at scale
The Monaco Blue Economy and Finance Forum, held just ahead of UNOC, focused on the role of private sector capital in the transition to a sustainable blue economy. More than 80 companies from 25 countries, representing EUR600 billion in combined revenue, signed the Business Call to action.
A total of EUR8.7 billion in new financial commitments were announced at the forum, forming part of a broader pipeline of EUR25 billion in identified investment opportunities. Keynotes from H.S.H. Prince Albert II of Monaco and ECB President Christine Lagarde underlined the growing financial and regulatory momentum.
“There is growing momentum in blue finance,” said Laurence Pessez, Global Chief Sustainability Officer at BNP Paribas Group. “We see many financing structures looking to tackle the management of marine protected areas. We are also seeing financial investment and innovations on startups that are acting either on mitigating pollution or supporting the marine transition.
❝There is growing momentum in blue finance. ❞
At a UNOC side event, Constance Chalchat, Chief Sustainability Officer for CIB and Global Markets, highlighted the growing importance of a distinct blue finance label. “What we’ve seen in the last two years is a lot more commitment to making blue a standard label and signalling to the market that blue deserves its own segment,” she said. “Blue inherently addresses three separate yet complementary outcomes, that green doesn’t always fully capture – carbon removal, biodiversity protection, and the societal resilience of coastal communities. It brings a different narrative to the market.”
❝ Blue inherently addresses three separate yet complementary outcomes, that green doesn’t always fully capture – carbon removal, biodiversity protection, and the societal resilience of coastal communities. ❞
Finance for resilience and adaptation
As Sumati Sankhla, Sustainability Research Analyst at BNP Paribas 360, explained: “Everything that is blue is core to adaptation and resilience. The ocean has a very close link to adaptation as a key component of the global water cycle, influencing weather patterns and precipitation.”
Healthy marine and freshwater ecosystems play a vital role in regulating climate, supporting biodiversity, and protecting coastlines. Oceans absorb over 90% of excess heat from global warming, produce half of the world’s oxygen, and drive global precipitation patterns. Mangroves, coral reefs, wetlands and seagrass meadows provide critical natural infrastructure that buffers communities from flooding, erosion and extreme weather events.
The UN’s Intergovernmental Panel on Climate Change (IPCC) has identified the restoration of blue ecosystems as one of the most effective nature-based solutions for adaptation. As climate impacts intensify, investment in ocean resilience is now recognised as a foundation for food security, water access and economic stability.
The road ahead
Blue finance is finding its place within the evolving global sustainability landscape. With marine and freshwater systems accounting for a critical share of climate and biodiversity functions, financial markets are increasingly recognising ocean protection as a mainstream priority. Blue bonds have already seen a significant uptick in interest from both investors and issuers, and this trend looks set to continue.
At BEFF and UNOC, new coalitions, regulatory commitments, and investment announcements suggest growing engagement. From treaty ratification to data innovation, from blue bonds to biodiversity credits, the sector is moving from concept to delivery.
Blueprint for impact: Blue bonds in action
BNP Paribas has played a leading role in bringing blue finance into practice.
Earlier this year, CAF (Development Bank of Latin America and the Caribbean) issued its inaugural €100 million blue bond, structured in collaboration with the United Nations Development Programme (UNDP) as technical coordinator. BNP Paribas acted as sole lead arranger and structurer. The proceeds will support ocean conservation, sustainable fisheries, and climate-resilient coastal infrastructure.
In parallel, the Central American Bank for Economic Integration (CABEI) launched a €30 million blue bond via private placement, fully purchased by Mutualidad. This marked the first private placement for a blue bond in Europe, with BNP Paribas again acting as structurer.
These transactions reflect a broader shift toward outcome-based instruments that align capital with measurable environmental results. This approach is core to BNP Paribas’ strategy, outlined in the Group’s paper For a Sustainable Blue Economy: Five Years of BNP Paribas Initiatives to Protect the Ocean.