Monaco Blue Initiative Highlights Urgency of Ocean Conservation Efforts
Prince Albert II emphasizes the global need for sustainable ocean management ahead of pivotal UN ocean conference.
The 16th edition of the Monaco Blue Initiative took place on March 24, 2025, at the Oceanographic Museum of Monaco, featuring remarks from Prince Albert II, who reaffirmed the principality's commitment to ocean conservation.
Launched in 2010, the Monaco Blue Initiative serves as a unique platform that convenes key stakeholders in ocean management to address pressing global challenges in ocean conservation through actionable proposals.
During his address, Prince Albert II highlighted the importance of collaborative action among nations and sectors to enhance ocean preservation and promote sustainable management practices.
He noted that the outcomes of discussions from this year's event would contribute to the upcoming Blue Economy and Finance Forum, scheduled for June 7-8, which aims to advance the transition towards a more sustainable blue economy.
This forum holds significance as a precursor to the third United Nations Conference on the Ocean, set to occur in Nice from June 9-13.
The discussions at the Monaco Blue Initiative emphasized the transition from a traditional maritime economy to a regenerative blue economy, with a focus on protecting marine ecosystems while supporting economic activities.
Prince Albert remarked on the current international climate characterized by uncertainties and significant challenges, asserting that upcoming forums are crucial opportunities to act decisively and collaboratively against skepticism surrounding ocean issues.
The topic of climate change and its impact on oceans was central to the discussions, with the Prince urging stakeholders—including economic and financial actors—to not resign themselves to the adverse effects on marine environments.
He underscored the pivotal role the economy and finance play in enabling substantial action through improved consumption, production methods, and waste management aligned with sustainable aspirations.
He pointed out that finance can mobilize considerable resources, often surpassing those available to states and multilateral organizations facing numerous crises.
Robert Calcagno, General Director of the Monaco Oceanographic Institute, echoed these sentiments, stating that this year’s Monaco Blue Initiative has placed a deliberate emphasis on sustainable finance within the blue economy.
He articulated the need to shift from unregulated exploitation of marine resources to a more balanced and respectful model of ocean management.
The upcoming Blue Economy and Finance Forum is recognized as a 'UN Ocean Conference Special Event,' designed to further the implementation of Sustainable Development Goal 14 (SDG 14), which aims to conserve and sustainably use the oceans, seas, and marine resources.
Current financial commitments fall significantly short of the estimated annual requirement of $175 billion, with only $25 billion mobilized to date for these initiatives.
In a broader context, the Monaco Blue Initiative also aligns with the objectives of initiatives such as Beyond Plastic Med (BeMed), which has been operational since 2015, tackling plastic pollution in the Mediterranean.
BeMed has supported a variety of projects aimed at fostering sustainable practices among local actors and enhancing regional coordination against plastic pollution.
The collective goal remains to facilitate dialogue and actionable solutions among diverse stakeholders to combat the enduring threat to ocean health globally.
Launched in 2010, the Monaco Blue Initiative serves as a unique platform that convenes key stakeholders in ocean management to address pressing global challenges in ocean conservation through actionable proposals.
During his address, Prince Albert II highlighted the importance of collaborative action among nations and sectors to enhance ocean preservation and promote sustainable management practices.
He noted that the outcomes of discussions from this year's event would contribute to the upcoming Blue Economy and Finance Forum, scheduled for June 7-8, which aims to advance the transition towards a more sustainable blue economy.
This forum holds significance as a precursor to the third United Nations Conference on the Ocean, set to occur in Nice from June 9-13.
The discussions at the Monaco Blue Initiative emphasized the transition from a traditional maritime economy to a regenerative blue economy, with a focus on protecting marine ecosystems while supporting economic activities.
Prince Albert remarked on the current international climate characterized by uncertainties and significant challenges, asserting that upcoming forums are crucial opportunities to act decisively and collaboratively against skepticism surrounding ocean issues.
The topic of climate change and its impact on oceans was central to the discussions, with the Prince urging stakeholders—including economic and financial actors—to not resign themselves to the adverse effects on marine environments.
He underscored the pivotal role the economy and finance play in enabling substantial action through improved consumption, production methods, and waste management aligned with sustainable aspirations.
He pointed out that finance can mobilize considerable resources, often surpassing those available to states and multilateral organizations facing numerous crises.
Robert Calcagno, General Director of the Monaco Oceanographic Institute, echoed these sentiments, stating that this year’s Monaco Blue Initiative has placed a deliberate emphasis on sustainable finance within the blue economy.
He articulated the need to shift from unregulated exploitation of marine resources to a more balanced and respectful model of ocean management.
The upcoming Blue Economy and Finance Forum is recognized as a 'UN Ocean Conference Special Event,' designed to further the implementation of Sustainable Development Goal 14 (SDG 14), which aims to conserve and sustainably use the oceans, seas, and marine resources.
Current financial commitments fall significantly short of the estimated annual requirement of $175 billion, with only $25 billion mobilized to date for these initiatives.
In a broader context, the Monaco Blue Initiative also aligns with the objectives of initiatives such as Beyond Plastic Med (BeMed), which has been operational since 2015, tackling plastic pollution in the Mediterranean.
BeMed has supported a variety of projects aimed at fostering sustainable practices among local actors and enhancing regional coordination against plastic pollution.
The collective goal remains to facilitate dialogue and actionable solutions among diverse stakeholders to combat the enduring threat to ocean health globally.