Monaco Blue Initiative: Economy and Finance as the new 'blue drivers' to Ocean care.
- M Abti
- Mar 26
- 6 min read
Updated: Mar 30
Monaco has officially launched the count-down to the United Nations Ocean Conference (UNOC3) that will be held in Nice in early June, anticipated by Monaco's Blue Economy and Finance Forum on the 7th and the 8th June 2025. The Monaco Blue Initiative - MBI, unique ocean conservation platform to gather governmental bodies, international organisations, scientists, civil society, NGOs, the private and media sectors since 2010, focused on the latest nature-based economic models, scientific researches and project financing methods to ensure an effective protection of marine ecosystems. The summit, at its 16th edition under the Presidency of H.S.H. Prince Albert II of Monaco, was held at the Musée Océanographique on the 23rd and the 24th March 2025, offering on Monday a full day of debates and key note speeches.
The Sovereign Prince opened the conference by highlighting the importance of identifying concrete actions that can influence our daily habits and choices rapidly and deeply towards ocean conservation: « This high-level event offers a real opportunity to take action and regain some motivation. Since its inception, the MBI has been based on the recognition that cooperation among ocean stakeholders is absolutely essential. Political leaders, scientific experts and economic players can take proper and effective measures only by working together, to enhance both ocean preservation and sustainable management ». Thus, there is strength in actors engagement to face climate change and biodiversity loss through a relevant economic and social change in consumption, in waste management, and transportation. Care, determination, cooperation and efficiency are the key words to build up a new Regenerative Blue Economy based on dialogue, knowledge sharing and the exchange of different experiences.
Private and Public capitals united in the same Blue cause to support regeneration.
The private sector is at the core of the transition to new forms of business that can generate profits from a sustainable management of ocean-related environmental assets. Notably, the Kelp Algae growing, oyster farming or aquaculture for human edible and wellness uses. Philanthropy and early stage investing plays a tremendous role in making companies operating in Blue Economy be profitable and fully respectful of various marine ecosystems (e.g.: coral reefs, mangrove forests, etc.). Moreover, it is essential to help institutions understand that public financing should go in the same direction. In a few words, private equity, VC (=venture) and institutional capitals should speak the same language to boost a multi-sectoral approach about innovation, high-technology, and regulations aimed at accomplishing a fully sustainable ocean management, as pointed out by Daniela Fernandez, Chief Executive Officer and Founder, Sustainable Ocean Alliance, U.S.A. The time has come to think differently, thus the need to scale up in order to reach all sectors involved (e.g.: shipping, fishing, etc.), considering that Blue Economy will soon reach a value of $ 15 trillion dollars, worldwide.
Fostering a Regenerative Blue Economy means reversing decades of harmful exploitation of marine resources by rethinking economic policies together with the social dimension, including not just local communities but also people from small islands to encourage innovators to be part of a global network, as reaffirmed by Barkha Mossae, Regional Regenerative Blue Economy Manager at IUCN Eastern and Southern Africa Office & Edinburgh Ocean Leader, Mauritius & Kenya.
Photo >> Snapshots from Session No.1 about Regenerative Blue Economy © Monaco Blue Economy
Science must adapt its language to influence political, economic and institutional decision-makers.
Scientists can play a pivotal role to guide the choices of public decision-makers as for marine ecosystem preservation. They have therefore consistent social responsibilities. Collecting data is just the initial stage of a long process of information search which are addressed to building the foundations for policy making, supported by a wider international coalition, as stressed by Dr LEE Hyi-Seung, President, Korea Institute of Ocean Science & Technology, Republic of Korea.
Empirical and scientific knowledge is essential to have a comprehensive view of each sector, taking into account the best practices legacy already sustainable before sustainability became an international topic. This has already been done in the European Union, for example, in the field of fisheries, including an ecosystem-based scientific approach with special reference to biodiversity, as underlined by Olivier Le Nezet, President, National Committee for Fisheries and Aquaculture, France (tbc). When we are talking about ocean, it is always about technical topics which must be understood by all stakeholders.
Photo >> Snapshots from Session No.2 about Science's role to achieve effective management, conservation and restoration strategies for coastal, offshore and deepwater marine ecosystems © Monaco Blue Economy
Dr David Obura, Chair, Intergovernmental Platform on Biodiversity and Ecosystem Services, Kenya, reiterated the need to scale up key issues (e.g.: sustainable fisheries; blue carbon; coastline restoration, climate change; food, water and health, etc.) already on the table to create a holistic financial and scientific ecosystem with a nature and people-positive spirit.
The land and the sea are very connected so that actions on both areas are closely interlinked. Something to be kept in mind in any scientific research, as reaffirmed by Prof. Heather Koldewey, Programme Lead, Bertarelli Foundation’s Marine Science Programme, Zoological Society London, Honorary Professor at the University of Exeter, United Kingdom. Healthy islands also means healthy reefs! If the seabed is in health, coral can grow four times faster with a much higher fish biomass. These are among the most significant results of the latest research.
Photo >> Final feedbacks by Chief Executive Officer, Oceanographic Institute, Prince Albert I of Monaco Foundation and the Vice-President of the Prince Albert II of Monaco Foundation © Monaco Blue Economy
Conclusions
Robert Calcagno, Chief Executive Officer, Oceanographic Institute, Prince Albert I of Monaco Foundation, Principality of Monaco, pointed out the importance of having a solution-based science: « I think that this edition of the Monaco Blue Initiative was a resounding success. In preparing this event, we made a very clear choice: to focus on Blue Economy and Finance in view of the Forum which will be held in Monaco in early June. We need to listen to science but the latter needs to listen to decision makers as well. We need to move towards to a new nature-based solution era. How long will it take us to make this transition? ».
Mr Olivier Wenden, Vice-Chairman and Chief Executive Officer, Prince Albert II of Monaco Foundation, Principality of Monaco, concluded: « Your ideas were making the difference to move forward the highly-expected Blue Economy and Finance Forum. We have a massive problem to solve though: we all know how importante the global ocean is, for our economies, for our cities, for international trade, for food security, for medicine for planet's climate balance, and for our daily life. We are too much used to talking about the risks and the opportunities. What we need is no more talk but world real solutions and smart actions. Blue Economy is our own Global Economy, not just a sector.
Our duty is to convince the private sector that it is an investable market, with economic co-opportunities, financial returns and a positive impact on marine ecosystems. That is perfectly in line with the spirit of H.S.H. Prince Albert II of Monaco when defining what is the new Blue Economy. Blue Economy finds efficiency in aquaculture, in fisheries, in shipping in order to create lasting supply chains which have minimal impact on ocean ecosystems. Blue Economy protects ecosystems and communities through oceanic infrastructures able to mitigate growing risks. Blue Economy innovates offering many solutions to face the crisis of plastic waste pollution, from recycling to substitute, to smart management and recovery. Blue Economy is not just a political investment. It is a deep movement! ». ***
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By Maurice Abbati
Journalist; Editor; Communication, Media and Public Relations Specialist
Lecturer and Author in English language of Technical Articles and the Manual: "Communicating the Environment to Save the Planet, a Journey into Eco-Communication" by Springer International Publishing.
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