Our Ocean Conference: A decade of pledges and progress for the ocean

Next week, global ocean advocates will convene in Busan, Korea, for the 10th Our Ocean Conference (OOC), marking a decade of significant commitments and highlighting the urgent need to accelerate efforts to meet vital marine conservation and climate targets. Since its launch in 2014, the conference has catalyzed an impressive $133 billion for ocean initiatives. However, experts emphasize that rising ambition is crucial if humanity aims to protect 30 percent of its oceans by 2030 and implement the High Seas Treaty.

A recent report by the World Resources Institute (WRI), celebrating the OOC’s 10th anniversary, reveals that over 2,600 voluntary commitments have been made at prior conferences, collectively valued at approximately $160 billion. By January 2025, 43 percent of these pledges will have been fulfilled, 38 percent are currently underway, and 18 percent have not yet commenced.

The majority of funding—$86.8 billion—has been directed towards ocean-climate initiatives, including offshore wind projects, blue carbon initiatives, and sustainable shipping routes. Notably, 13 significant climate commitments exceed $1 billion each, reflecting a growing awareness that healthy oceans can enhance both carbon reduction and marine biodiversity.

Despite this progress, WRI warns that to meet UN Sustainable Development Goal 14 (“Life Below Water”), the global community must invest $175 billion annually in ocean conservation alone, while overall climate financing needs escalate to $1.3 trillion per year. As policymakers prepare for COP30 in November, incorporating ocean-based solutions into broader climate finance strategies will be critical.

Additionally, Marine Protected Areas (MPAs) have become one of OOC’s notable achievements. An independent study from Oregon State University credits the conference with generating nearly 8.5 million km² of new MPAs—an area comparable to Brazil—representing almost 40 percent of the world’s protected marine spaces. However, with the “30×30” initiative aiming to protect 30 percent of global land and water by 2030 gaining traction, experts stress that voluntary pledges must convert into binding actions. As of late April, only 21 nations have ratified the High Seas Treaty (BBNJ), the historic agreement extending conservation beyond national jurisdictions. Observers expect at least 60 ratifications to enable the treaty’s enactment by the upcoming UN Ocean Conference in June.

Last year, Greece highlighted the blue economy’s potential, showcasing ecotourism, renewable energy, and green shipping as avenues for sustainable development that coexist with a healthy ocean. The country announced 21 new commitments valued at over 800 million USD. This year, Korea’s leadership is anticipated to further illuminate viable pathways to harnessing the ocean as a fundamental component of our global economy.

As the Our Ocean Conference celebrates its 10th anniversary, its history of mobilizing resources and attention serves as a model for what can be achieved. However, with global oceans facing unprecedented threats—ranging from overfishing and pollution to climate change—experts agree that the coming decade demands heightened urgency and collaboration. World leaders need to transform ambitious pledges into tangible protections and restorations to fulfill the conference’s original mission: to safeguard the vital seascapes that support billions of lives and livelihoods.