The funding shortfall threatens marine conservation goals

The funding shortfall threatens marine conservation goals | Photo: Daniel Pino

Since 2015, global spending on marine protection and the sustainable blue economy has stagnated at around US $10 billion per year, less than 6 percent of the US $175 billion required annually to meet SDG 14 targets, covering marine conservation, pollution control, sustainable fisheries, coastal livelihoods and research. This stark underinvestment, nearly 17 times insufficient, has severely limited progress in protecting marine ecosystems, enhancing coastal resilience and nurturing sustainable ocean-based industries.

Analytical overview: Pledges vs needs

At the Third UN Ocean Conference (Nice, 9–13 June 2025), public and development banks announced close to US $10 billion in new commitments, far short of the annual target. Highlights include:

·       €3 billion (~US $3.5 billion) from the European and Asian Development Banks to curb plastic pollution.

·       US $2.5 billion over 2025–2030 by the Development Bank of Latin America and the Caribbean for sustainable marine investments.

·       Regional adaptation funds: €119 million for coastal resilience in Guinea, €2 million for North African coastal protection, €1.8 million for Marine Protected Areas in Costa Rica and the Mediterranean.

·       Private capital: €160 million raised by SWEN Capital Partners for its Blue Ocean 2 fund to support marine biodiversity start‑ups.

While these pledges signal renewed financing momentum, they cover just under 6 percent of the annual SDG 14 need, and most from public sources, underlining persistent private-sector hesitancy.

Why private finance lags

Several interlinked obstacles suppress private investment in ocean sustainability:

·       Regulatory ambiguity in international waters; the High Seas Treaty, adopted in 2023, still lacks sufficient ratifications, about 55 nations so far, with 60 needed to enter into force, expected early 2026.

·       Lack of investable projects: few bankable pipelines or predictable revenues deter capital.

·       Weak enforcement and fragmented jurisdiction hamper risk assurance.

·       Data scarcity: insufficient marine science data elevates ecological and financial uncertainty.

Strategic responses and innovation

·       One Ocean Finance, a UN-backed platform, aims to attract blended public–private capital for ocean projects.

·       Financial mechanisms are accelerating: blue bonds, debt-for-nature swaps, and blended finance pilots are de-risking investments.

·       The Ocean Investment Protocol, introduced during the conference, provides alignment guidance for investors towards SDG 14.

·       Additional investor interest includes €8.7 billion signed in Monaco, though distributed over multiple years.

Governance breakthroughs and remaining challenges

The High Seas Treaty is likely to enter into force by 1 January 2026, pending final ratifications, promising clearer international regulations and marine protected area frameworks. Over 18 countries recently ratified during the conference, raising the total to 49.

Simultaneously, discussions included moratoriums on deep-sea mining, stronger enforcement of marine protected areas, and plans to eliminate harmful subsidies, such as those backing bottom trawling.

The global society imperative

To meet SDG 14 – Life Below Water, the global community must converge. Sovereign states, financiers, NGOs and coastal stakeholders must:

1.     Ensure swift ratification and implementation of the High Seas Treaty by all nations.

2.     Back One Ocean Finance and adhere to the Ocean Investment Protocol.

3.     Develop a strong pipeline of investable ocean projects via technical support and partnerships.

4.     Realign policies and subsidies to favour regenerative blue‑economy activities.

5.     Enhance marine data collection, transparency, and enforcement mechanisms.

Although the Nice declarations represent a pivotal shift, pledges around US $10 billion annually cover only a fraction of the US $175 billion sought. Bridging this finance gap demands scaling up private capital, improving governance, stimulating investable project pipelines, and delivering regulatory clarity. The collective actions of a global society, from UN bodies to community-led initiatives, will determine whether SDG 14 can be achieved.

Further reading:

·       UN SDG 14 targets (sdgs.un.org)

·       Insights on One Ocean Finance (UN SDG portal)

·       High Seas Treaty overview (Reuters explainer)