Bold Investment in Ocean Can Be ‘Triple Win’ for People, Planet, Prosperity, Speakers Say, at Nice Panel on Advancing Sustainable Ocean-Based Economies
NICE, FRANCE, 11 June — Invest boldly in the well-being of the ocean and savor the win-win-win for people, planet and prosperity. That was the key message from a panel today at the 2025 UN Ocean Conference, where global leaders and experts urged united action to unlock the full potential of a sustainable ocean-based economy.
The afternoon panel — the sixth of 10 held this week on the sidelines of the high-level debate — focused on “Advancing sustainable ocean-based economies, sustainable maritime transport and coastal community resilience leaving no one behind”.
“We are seeking win-win-win scenarios for people, planet and pocketbook”, said Junhua Li, Under-Secretary-General for Economic and Social Affairs, noting that the sustainable ocean-based economy is central to achieving the 2030 Agenda for Sustainable Development and its vision of inclusive, environmentally sound economic development. Progress in this area directly supports not only Sustainable Development Goal (SDG) 14 but also wider goals on poverty reduction, decent work, innovation and more. Small island developing States are already pioneering “triple-win” initiatives — for people, planet and prosperity — through regenerative tourism, women-led entrepreneurship and responsible fisheries. Global momentum is reflected in the over 2,400 voluntary commitments submitted to the UN Ocean Conferences, covering diverse sectors from marine transport to ocean-friendly fashion.
Still, meeting SDG 14 by 2030 requires an estimated $175 billion annually — demanding bold action and a major scale-up of investment, especially through public-private partnerships and innovative finance tools like blue bonds and debt-for-nature swaps, he said. Calls for action at the recent Conference on small island developing States and within the draft outcome of the 2025 UN Ocean Conference emphasize the need to boost investment across ocean sectors. Beyond finance, building a resilient blue economy requires innovation and empowering youth voices. As global dialogue continues, particularly in the lead-up to the fourth International Conference on Financing for Development, now is the time to invest in a sustainable ocean future.
The panel heard recommendations from the United Nations Conference on Trade and Development (UNCTAD) on how to build a sustainable ocean-based economy. Outlining five clusters of action, Rebeca Grynspan, UNCTAD Secretary General, said that first, better ocean data and governance are critical — real-time emissions tracking across all sectors and integrated data systems are needed to manage ocean use effectively. Second, climate-resilient maritime transport must be prioritized, with investment in new fuels, adaptive infrastructure, port support —especially for small island developing States — and workforce reskilling. Third, efforts must be made to facilitate sustainable trade, including expanding South-South agreements like the Global System of Trade Preferences for ocean products, easing trade for small-scale fishers and digitizing traceability systems.
Fourth, UNCTAD calls for boosting ocean innovation, such as forming a UN inter-agency task force on seaweed to promote blue foods and plastic alternatives, create decent coastal jobs, and ensure technology transfer is embedded in blue finance. Fifth, a major transformation in ocean finance is needed. UNCTAD proposes a “Blue Deal” worth $2.8 trillion targeting seaweed and mangrove restoration, decarbonization of shipping and fisheries, sustainable ocean foods and coastal/offshore wind energy. It also recommends creating a One Ocean Finance Facility to pool investments and redirect harmful subsidies. “The ocean connects us all; so must our solutions”, she said, emphasizing that the Nice Conference must be the turning point for collective action.
Arsenio Dominguez, Secretary General of the International Maritime Organization (IMO), said that shipping transports account for more than 80 per cent of global trade and is the largest sector operating in ocean spaces. “As such, it plays a central role in protecting the marine environment and managing ocean resources”, he said. As shipping undergoes a major transformation to meet future demands, innovation — through clean fuels, green technologies and energy-efficient vessels — is essential. Governments play a vital role in supporting this transition by embedding these innovations into governance frameworks.
“Clean fuels, green technologies, and energy-efficient vessels are not just concepts — they are essential tools for a greener maritime sector”, he said, adding: “Through global cooperation and investment, we can ensure a sustainable transition that leaves no country behind.” Decarbonizing shipping is among the industry’s biggest challenges. The new IMO Net-Zero Framework — set for adoption in October — lays out a path for reducing greenhouse gas emissions, including fuel intensity limits and the first global greenhouse gas pricing system for an entire sector. Yet regulations alone aren’t enough — scaling up technology and financing is crucial to drive a just and inclusive energy transition. “Ultimately, building a sustainable ocean-based economy is not optional — it’s essential for global equity, environmental protection and long-term prosperity.”
Highlighting the importance of local leadership in ocean action was LaToya Cantrell, Mayor of New Orleans, United States. Citing the contribution of the Mississippi River Delta to the gulf south’s economy and culture, she underscored the need for immediate action to protect the coast. “The world’s greatest experts on where they live are the people who live in those neighbourhoods front and centre”, she said. Innovative solutions include using recycled glass instead of sand for coastal barriers. She stressed the role of local, community-driven innovation and the necessity of inclusivity and youth leadership. She cited the Youth Climate Action Fund, supported by Bloomberg Philanthropies, as a model for empowering young leaders. Local initiatives like stormwater parks and workforce development programmes are under way, with a call for global support to fund and follow local leadership for sustainable development.
Andrew Forrest, philanthropist at Minderoo Foundation, emphasized the dire state of global oceans due to overfishing and climate change, urging for a 30 per cent no-take zone in exclusive economic zones to protect marine biodiversity and ensure sustainable fisheries. “I’ll ask all of you see what David Attenborough describes in a film which my foundation just funded, called Ocean”, he said. “It will show you absolutely that if you leave 30 per cent of your exclusive economic zone untouched, you will be able to drink from this glass of water for the rest of your life.”
He proposed a model inspired by the Australian mining sector, where transgressions in marine parks lead to license revocation. He highlighted the success of this approach in western Australia’s lobster industry. He also discussed the need for the shipping industry to transition to cleaner fuels, advocating for the ratification of an upcoming IMO convention to reduce carbon emissions from shipping. “For the sake of your souls, for the sake of your children, for the sake of every organism on this planet, ratify that convention,” he urged.
The panel was co-chaired by Surangel S. Whipps Jr., President of Palau, and Annette Gibbons, Deputy Minister at Fisheries and Oceans of Canada. Setting the stage for discussion as moderator was Minna Epps, Director of the International Union for the Conservation of Nature, Ocean Team. Russell Reichelt, Sherpa to the High-level Panel for a Sustainable Ocean Economy, and Francine Pickup, Deputy Assistant Administrator, United Nations Development Programme, offered additional remarks as lead discussants. The panel was followed by an interactive discussion featuring representatives of Member States as well as civil society speakers.