"Prince Albert II Foundation laments insufficient financial support for ocean conservation"
The Blue Ocean Finance Splashdown: A Game-Changer in Monaco
Dive into a watershed event happening in Monaco on June 7 and 8, 2025 - the Blue Ocean Economy and Finance Forum (BOEFF), just before the third United Nations Ocean Conference in Nice. This soiree, organized by the Princely government, the Prince Albert II Foundation of Monaco, and the Oceanographic Institute of Monaco, is nothing short of a spectacle, created to discuss the blue economy and start-ups, with a mission to balance business and the environment.
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Amélie Charnay, our resident Energy-Environment-Climate sleuth, has the scoop on everything you need to know about BOEFF.
Let's Dive In: What's BOEFF All About?
Olivier Wenden: This is a special event, labeled "UN", co-hosted by the Princely government, the Prince Albert II Foundation of Monaco, and the Oceanographic Institute of Monaco. French President Emmanuel Macron made a call for a major blue economy and finance conference as a prelude to the third United Nations Ocean Conference in Nice. Thus, he entrusted Prince Albert II of Monaco with the responsibility of hosting this event.
Is BOEFF Aiming to Impact International Negotiations?
This event will be an exclusive gathering, by invitation-only, bringing together influential leaders from various maritime transportation, aquaculture industries, investment funds, international banks, heads of state, government officials, and members of royal families invested in the cause. The purpose is to champion already existing solutions, without grandiose displays or the establishment of new coalitions. The agenda includes full sessions and pitch sessions, featuring start-ups and growing companies, carefully selected in collaboration with partners such as the Earthshot Prize, the World Economic Forum, Builders Vision, Minderoo Foundation, and the Solar Impulse Foundation.
© Prince Albert II Foundation of Monaco Is BOEFF Primarily Financial?
Absolutely! We're here to demonstrate that it's advantageous to invest in the oceans, with reasonable risks and returns comparable to other sectors. A crucial moment during BOEFF will be the round-table discussion involving major sovereign funds and pension funds – a first-time gathering essential to addressing the massive funding gap currently plaguing the oceans. The World Economic Forum estimates a requirement of $175 billion annually up to 2030. We're far from that figure.
Which Financial Instruments Will Be Highlighted?
In addition to venture capital, discussions will revolve around "blended finance," a mix of public, private, and philanthropic capital, such as in the case of the Global Fund for Coral Reefs, which has raised over $160 million. Furthermore, we will delve into the debate on blue carbon credits, examining the potential of coastal and marine ecosystems to sequester carbon dioxide.
When Did the Prince Albert II Foundation of Monaco Start Supporting the Blue Economy?
The Foundation has been actively working to engage the private sector and significant international financial institutions in sustainable, large-scale solutions for over five years. This entails continuous efforts to educate the public, as the oceans are often still perceived as a philanthropic issue. They have launched the Ocean Innovators Platform and a venture capital fund, the ReOcean Fund, with 100 million euros. In the ensuing years, the Foundation aims to support five main verticals: sustainable aquaculture, plastic alternatives, marine data, green maritime transport, and the adaptation and regeneration of coastal ecosystems.
Topics to Explore:
- Ocean Health
- Sustainability
- Innovation
- Climate Change
- The Blue Ocean Economy and Finance Forum (BOEFF) in Monaco, aimed at balancing business and the environment, includes discussions about investing in the oceans, with a focus on blended finance, venture capital, and blue carbon credits.
- BOEFF, a special event organized by the Princely government, the Prince Albert II Foundation of Monaco, and the Oceanographic Institute of Monaco, invites influential leaders from various industries, including finance and business, to champion existing solutions for climate-change and environmental-science issues related to the oceans.
- The Prince Albert II Foundation of Monaco, responsible for hosting the Blue Ocean Economy and Finance Forum (BOEFF), has been actively supporting the blue economy for over five years, launching the Ocean Innovators Platform and the ReOcean Fund, a venture capital fund with 100 million euros.
