Monaco, France (Enmaeya News) — The Blue Economy and Finance Forum (BEFF), held June 7–8 at the Grimaldi Forum in Monaco, brought together leaders from government, finance, philanthropy and conservation to rally support for a sustainable ocean economy.

The event was hosted under the patronage of Prince Albert II of Monaco and was organized ahead of the 2025 United Nations Ocean Conference in Nice. It ended with €33.7 billion in total commitments, including €25 billion in existing investments and €8.7 billion in new pledges to support marine conservation and economic transformation in ocean sectors.

Prince William, attending through his Earthshot Prize platform, called for urgent global cooperation to protect the oceans. “The ocean is under enormous threat, but it can revive itself, only if we act together now,” he said during a panel with Sir David Attenborough.

A key announcement came from the Development Bank of Latin America and the Caribbean, known as CAF. The bank pledged to double its blue economy investments from $1.25 billion to $2.5 billion by 2030, focusing on projects like marine sanitation, climate-resilient fisheries and cleaner ports.

Over the two-day event, sessions highlighted the importance of blended finance for ocean protection, increasing nature-positive investments, upgrading coastal infrastructure and supporting small-scale fisheries and coral-safe coastal economies.

Two new global initiatives were launched at the forum: “Philanthropists & Investors in Ocean” and “Business in Ocean.” The initiatives already include 80 corporate signatories from 25 countries.

In closing, Prince Albert II said, “Everything is now in place to make the major turning point our ocean requires.”

The momentum from the BEFF is expected to help shape the Nice Ocean Action Plan, a major outcome of the upcoming U.N. Ocean Conference, focused on reforming ocean governance and financing systems.