Major players in ocean conservation and the blue economy gathered in Monaco for the 16th meeting of the Monaco Blue Initiative (MBI 16) to discuss how to make the most of the series of important upcoming events on the ocean, including Our Ocean Conference, the Blue Economy and Finance Forum (BEFF), and the One Ocean Science Congress, that will culminate in June with the Third UN Ocean Conference (UNOC3). HSH Prince Albert II of Monaco encouraged the ocean community to strengthen its commitment to collective action to scale up a sustainable blue economy and protect marine ecosystems.

According to the Earth Negotiations Bulletin (ENB) summary report of the meeting, the questions guiding MBI 16’s three discussion sessions were as follows:

• How can we successfully transition from a “maritime” to a “regenerative blue economy,” and change the scale to protect the economy and marine ecosystems?
• How can science better guide institutional and economic decision makers in preserving, sustainably managing, and restoring marine ecosystems?
• How can we accelerate the mobilization of financial resources to meet the targets of SDG 14 (life below water)?

Fireside chats provided updates on the BEFF and on accelerating the mobilization of financial resources to achieve SDG 14 targets, as well as an overall session update to inform participants of recent developments on key topics and forthcoming events.

Per ENB, participants discussed how to obtain sufficient ratifications to enable the entry into force of the Agreement on Fisheries Subsidies under the World Trade Organization (WTO) and of the Agreement on Marine Biodiversity in Areas Beyond National Jurisdiction (BBNJ). They also reflected on how to ensure these global instruments deliver on their ambitious objectives.

Among actions “that can make ocean protection and a sustainable blue economy a reality,” speakers highlighted the need to close the finance gap. They discussed tools that can help scale up investments in marine protection, stressing the need to “de-risk” private investment in ocean protection.

MBI 16 took place at the Oceanographic Museum of Monaco on 24 March 2025.

Launched in 2010 by HSH Prince Albert II of Monaco, the MBI was conceived as an informal think tank to accelerate the integration of ocean issues into international negotiations on the environment. It serves as a platform to bring together major players in ocean conservation and governance in annual debates to explore solutions to challenges facing the ocean and to promote a sustainable blue economy. [ENB Coverage of MBI 16]