The “Our Ocean” Conference (OOC), held from April 28 to 30 in Busan, South Korea, has mobilized $133 billion in ocean action funding over the past decade, according to a new report by the World Resources Institute (WRI), marking the event’s 10th anniversary.
A Premier Global Platform
Since its launch in 2014, the OOC has become a leading platform for governments, businesses, and civil society to make commitments toward marine conservation, ocean-based climate solutions, and sustainable blue economy initiatives. The WRI’s analysis identifies more than 2,600 ocean-related commitments valued at approximately $160 billion over the past ten years. As of January 2025, $133 billion has already been delivered or is in progress, with 43% of commitments completed, 38% ongoing, and 18% yet to begin.
Scaling Up Ambition
The report calls for greater ambition, particularly in light of global ocean goals such as the High Seas Treaty and the “30 by 30” target—to protect 30% of the world’s land and waters by 2030. With COP30 on the horizon, integrating ocean solutions into the global climate finance agenda is seen as critical.
Ocean Climate Finance Leads the Way
A large portion—$86.8 billion—of total commitments has gone to ocean-climate-related projects. These include offshore wind, blue carbon initiatives, and green shipping. Thirteen individual climate-related commitments were each valued at over $1 billion, reflecting the increasing recognition that ocean action can contribute significantly to carbon emission reductions while preserving marine ecosystems.
Support for Marine Protected Areas (MPAs)
The OOC has also been instrumental in supporting marine protected areas, a vital tool for safeguarding oceans amid rising threats from overfishing, pollution, and warming waters. According to a study from Oregon State University, 42% of all implemented MPAs worldwide—covering 8.5 million km², roughly the size of Brazil—are linked to OOC announcements.
A Critical Year for the Oceans
These voluntary commitments take on renewed importance amid a pivotal year for ocean protection. The High Seas Treaty (BBNJ) and the Kunming-Montreal Global Biodiversity Framework both require unprecedented marine conservation efforts, including the “30 x 30” target. While only 21 countries have ratified the High Seas Treaty, hopes are high that 60 additional ratifications will be secured by the UN Ocean Conference in June, enabling the treaty’s entry into force.
A Call to Immediate Action
“This 10th ‘Our Ocean’ Conference is a milestone to inspire immediate global action under the theme ‘Our Ocean, Our Action,’” said Do-hyung Kang, South Korea’s Minister of Oceans and Fisheries. “It will focus on the achievements of the past decade while setting a course for the future of international cooperation.”
Dr. Tom Pickerell, Global Director of WRI’s Ocean Program, emphasized, “Our research shows the OOC is a key driver for mobilizing crucial funding and action. However, a broader global ambition is essential. Ocean solutions could deliver up to 35% of the annual emissions reductions needed by 2050 to stay within the 1.5°C limit.”
Greek MP and OOC 2024 Coordinator Dr. Dionysia-Theodora Avgerinopoulou added, “From ecotourism to renewable energy, dynamic sustainable development and healthy oceans go hand in hand. The OOC plays a vital role in this vision, and I hope it continues to inspire public and private stakeholders globally.”
Source: Marine Oceans
