The ocean is vital to the global economy, climate stability, and biodiversity, yet it remains vastly underfinanced and increasingly under threat. Earlier this month, at the third UN Ocean Conference (UNOC3) and related side events, a series of major announcements underscored the growing momentum to change that. From new financial mechanisms to advancements in key multilateral agreements, such as the Agreement on Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ Agreement) and the Global Plastics Treaty, UNEP FI and its partners are working to help the financial sector navigate this evolving landscape.

Ocean Investment Protocol: A pathway for a sustainable blue economy

At the Blue Economy and Finance Forum (BEFF)—a UNOC3 special event dedicated to blue finance—UNEP FI and UN Global Compact launched the Ocean Investment Protocol. This new guide provides a clear framework for mobilizing and scaling investment in a sustainable blue economy. Building on the Sustainable Blue Economy Finance Principles, the Protocol outlines how financial institutions, policymakers and industry leaders can align their activities to drive progress toward Sustainable Development Goal 14 (Life Below Water). For the finance sector, it offers a practical pathway to lead and support the transformation of ocean-related industries.

“There’s significant momentum to innovate and collaborate to ensure we create blue economy financing solutions—such as blue bonds and outcome bonds—that operationalise ocean conservation strategies into a pipeline of bankable projects and initiatives.” Constance Chalchat, Chief Sustainability Officer, BNP Paribas Corporate & Institutional Banking (CIB) & Global Markets.

One Ocean Finance: A new public-private development finance mechanism

A major development for the finance sector was the introduction of One Ocean Finance—a new public-private development finance mechanism aimed at mobilizing billions in funding for the sustainable blue economy. Launched by UNEP and partners at BEFF, and following a conceptualization phase in which UNEP FI played an active role, this initiative seeks to unlock underutilized capital from ocean-dependent industries through a global platform designed to be agile, scalable, and targeted. The goal is to drive a triple win: accelerate industry transition, restore ocean health, and strengthen coastal community resilience. For the finance sector, this represents a significant opportunity to engage in shaping a more inclusive, coordinated ocean finance system that fully recognizes the ocean’s value as a global asset. Financial institutions are encouraged to participate in the Call for Engagement on One Ocean Finance.

Agreement on Marine Biological Diversity of Areas beyond National Jurisdiction: Mobilizing private capital for high seas conservation

A key milestone was also reached on the BBNJ Agreement, with 19 new ratifications announced. The total now stands at 50 out of the 60 needed for the agreement to become law. This progress is significant for the finance sector, as the treaty could drive stronger regulation of high seas activities like overfishing and boost investment in marine research, conservation, and sustainable ocean use. UNEP FI is actively involved through an advisory committee helping shape the financial mechanisms of the treaty, ensuring the finance sector is prepared to support and benefit from its implementation.

Global Plastics Treaty: Helping the financial sector prepare

The upcoming Global Plastics Treaty emerged as a key topic with major implications for the finance sector. Although the treaty is still under negotiation, its potential to reshape business practices around plastic production, usage and pollution makes early engagement critical. To support this, UNEP FI has convened the Finance Leadership Group on Plastics and also co-hosted an event at BEFF focused on how finance can drive plastic reduction and circular economy solutions. Financial institutions are encouraged to stay engaged and begin preparing now for the treaty’s adoption, as it will influence investment risks, regulatory compliance, and sustainability strategies across sectors.

Marine biodiversity credits: Advancing credible and scalable markets

Marine biodiversity credits were presented as a promising new financial mechanism for the private sector to support ocean conservation. These credits aim to generate measurable biodiversity gains—such as restoring habitats or protecting marine species—that can be verified and traded. UNEP FI, as co-facilitator of the Biodiversity Credit Alliance, is helping to ensure these markets are credible, transparent, and scalable. Discussions at the conference focused on how such credits could be applied specifically to coastal and ocean ecosystems, offering financial institutions a new tool to invest in nature-positive outcomes while meeting sustainability goals.

UNEP FI, through its Sustainable Blue Economy Finance Initiative, supports financial institutions in understanding and responding to the financial implications of key environmental agreements and ocean-related initiatives—such as the Kunming–Montreal Global Biodiversity Framework, the BBNJ Agreement, the Global Plastics Treaty, and One Ocean Finance. The Initiative helps the finance sector navigate these developments and align with a sustainable blue economy. Financial institutions interested in learning more or getting involved can do so here.