The Blue Economy and Finance Forum (BEFF) 2025 was inaugurated today at the Grimaldi Forum in Monaco, with Prince Albert II in attendance.

The opening day featured prominent economic, political, and diplomatic figures, including co-chairs Pascal Lamy, former Director-General of the WTO, and Ilana Seid, Ambassador of the Republic of Palau to the United Nations.

The event also saw speeches from Christine Lagarde and Agnès Pannier-Runacher, alongside numerous ministers, researchers, NGO representatives, business leaders, and financial industry players.

The Blue Economy and Finance Forum is an international event that brings together public decision-makers, investors, scientists, and entrepreneurs focused on transforming the global maritime economy.

Organized in partnership with the Principality of Monaco and part of the special events of the United Nations Ocean Conference, the BEFF aims to promote financing and innovation in support of a sustainable, regenerative, and inclusive blue economy.

The term "blue economy" encompasses all economic activities related to oceans, seas, and coastal areas.

It is considered a strategic pillar for global growth, with an estimated value of $2.5 trillion per year, and projections indicating it could exceed $3 trillion by 2030, according to OECD estimates.

The blue economy is vital for food security, trade, energy transition, pharmaceuticals, and ecological resilience.

However, such growth necessitates enhanced international cooperation, ambitious policies, and targeted investments.

The opening plenary session, attended by Prince Albert II and Christine Lagarde, President of the European Central Bank, was marked by Lagarde's poetic address on the current situation and the opportunities a sustainable blue economy offers for both nature and commercial ecosystems.

French Minister for Ecological Transition, Agnès Pannier-Runacher, opened the forum stating,

"It is a true honor to inaugurate this new edition on financing the blue economy here in Monaco, in the presence of His Serene Highness Prince Albert II, whose vision and commitment to ocean protection and science-based policies have inspired global action.

This forum is more than just a conference.

It is a catalyst, a space where solutions can emerge, financing can be unlocked, and trust can be restored.

The stakes are considerable.

The blue economy represents $2.5 trillion annually on a global scale and sustains hundreds of millions of people.

However, less than 1% of climate financing is directed towards the oceans, and less than 0.1% of private funding supports a sustainable blue economy.

Too many local actors, from coastal communities to innovative entrepreneurs, are left behind.

This gap must close, and France is determined to bridge it."

Two panels followed, focusing on financing marine ecosystem conservation at local and transboundary levels, featuring experts and private sector representatives such as Dr. Grethel Aguilar (IUCN), Melissa Garvey (The Nature Conservancy), Jean Lemierre (BNP Paribas), and José Soares dos Santos (Oceano Azul Foundation).

The second panel, addressing transboundary conservation program financing, included speakers like Ray Dalio, Dr. Andrew Forrest, Mary Schapiro (GFANZ), and Barbara Karuth-Zelle (Allianz SE), moderated by Karen Sack (ORRAA), discussing the importance of sustainable financing for preserving shared ocean resources.

The afternoon's second plenary session focused on "Financing a Regenerative and Sustainable Blue Economy." The opening address was delivered by Costas Kadis, European Commissioner for Fisheries and Oceans.

Two new panels were scheduled, the first titled "Unite Forces: The Power of Blended Financing," exploring how de-risking mechanisms and biodiversity credits can attract private investment, featuring participants like Marisa Drew (Standard Chartered), Dame Amelia Fawcett, and Anthony Smith Jr., Minister of Agriculture, Fisheries, and the Blue Economy of Antigua and Barbuda.

The second panel was dedicated to private investment-driven innovation, showcasing venture capital's role in developing blue solutions, with inputs from Mo Ibrahim, Isabelle de Cremoux (Seventure Partners), and Nathalie Sarel (Crédit Agricole CIB).

The second day of the Forum will address major issues related to the sustainable transformation of maritime transport and port infrastructure, providing concrete governance and financing solutions for ocean stewardship.

The third plenary session will open with a speech from Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), followed by two panels on the decarbonization of maritime transport and the adaptation of port and coastal infrastructure, featuring industry leaders such as Lloyd’s Register, CMA CGM, ENGIE, and the port of Shanghai.

In the afternoon, the final plenary session will examine global perspectives on ocean financing, featuring major institutions like the World Bank, EIB, UN, and IDB Invest.

Government representatives from Chile, Vietnam, Norway, Palau, and Cape Verde will share policy recommendations and commitments to enhance ocean governance and catalyze the blue economy.

The forum will conclude with an artistic performance titled "The Pulse of the Ocean."