#BACKBLUE OCEAN FINANCE COMMITMENT SURGES BEYOND USD$3 TRILLION IN ASSETS UNDER MANAGEMENT

• #BackBlue ensures the Ocean has seat at table in finance and insurance decisions
• New financial joiners to Commitment include BNP Paribas, Eurazeo, Mirova
• Call for more finance institutions and corporates to also #BackBlue

Monaco, 8 June 2025 - The #BackBlue Ocean Finance Commitment now covers a cumulative value of USD$3.45 trillion of assets under management as three new corporates endorse this call, this World Ocean Day.

BNP Paribas, Eurazeo and Mirova are the latest financial institutions to join the Commitment which ensures a regenerating and sustainable ocean has a seat at the table in finance and insurance decisions. They join existing endorsers including Deutsche Bank, Standard Chartered, AXA, WTW and Palladium.

The announcement comes today during the Blue Economy and Finance Forum in Monaco, a Special Event of the Third United Nations Ocean Conference which starts tomorrow in Nice, France.

The #BackBlue Ocean Finance Commitment is a joint initiative of The Ocean Risk and Resilience Action Alliance and the World Economic Forum's Ocean Action Agenda and is also supported by the UN Race to Resilience, the IUCN and UNEP FI, to drive investment into coastal and ocean natural capital.

The Ocean plays a vital role in combating climate change and is home to over 80 per cent of all life on Earth. It is the planet's largest carbon sink and has absorbed over 90 per cent of the heat from our carbon emissions. It feeds and provides livelihoods to billions.

Those supporting #BackBlue commit to taking specific actions including:

• Setting robust net zero commitments;
• Driving financial system policy change that is nature positive with a particular focus on the Ocean;
• Accelerating the transition towards a healthy and sustainable ocean;
• Joining the Ocean Risk and Resilience Action Alliance and/or the Sustainable Finance Community at the World Economic Forum.

Karen Sack, Executive Director, ORRAA, said: "This announcement in Monaco reinforces how connected our Ocean is to decisions made from beachfront to boardroom. Welcoming BNP Paribas, Eurazeo and Mirova to #BackBlue shows a growing, diverse global group of financial institutions coming together to secure a healthy, resilient ocean for people, nature and economies alike. But, as always, there is always much more that can be done, and we encourage others to follow suit in Backing Blue."

Alfredo Giron, Head of the World Economic Forum's Ocean Action Agenda and Friends of Ocean Action, said: "We are delighted to welcome these three new private sector actors to #BackBlue. By joining #BackBlue, these organisations are helping to drive the urgent shift toward a regenerative and sustainable blue economy, essential for a healthy Ocean."

Supporting #BackBlue will help the delivery of:

• The UN Race to Resilience's goals of building the resilience of four billion people from groups and communities who are vulnerable to climate risks by 2030;
• The World Economic Forum's Ocean Action Agenda to catalyse public-private partnerships to accelerate ambitious solutions for a regenerative and sustainable ocean economy, and;
• ORRAA's objective of securing USD$500m of investment into coastal and ocean natural capital by 2030, to mitigate risk and build the resilience of 250 million people in communities vulnerable to climate change in the Global South.

The #BackBlue brochure can be found on ORRAA's website here: https://oceanriskalliance.org/wp-content/uploads/25-06-08-BackBlue-Brochure-.pdf

Ocean Risk and Resilience Action Alliance Inc.
2336 Wisconsin Avenue NW, # 32043
Washington, DC 20007
USA

Media contacts:
media@oceanriskalliance.org

About ORRAA:

The Ocean Risk and Resilience Action Alliance (ORRAA) is the only multi-sector collaboration connecting the finance and insurance sectors, governments, multilateral organisations, civil society, and local partners, to pioneer finance and insurance products that incentivise investment into coastal and ocean resilience, and through Nature-based Solutions.

The mission, by 2030, is to activate at least USD$500 million of investment to build the resilience of 250 million climate vulnerable coastal people in the Global South.

ORRAA is delivering system-wide change by growing an investable product pipeline and generating the transformative investment instruments, vehicles and policies that contribute to a regenerative and sustainable blue economy. These solutions enable coastal communities and the Ocean to adapt and thrive, creating greater economic, social and cultural resilience.

https://oceanriskalliance.org

About the World Economic Forum:

The World Economic Forum's Ocean Action Agenda convenes stakeholders across sectors to create platforms at the nexus of science, business and policy and cultivates partnerships across business, government, academia and civil society. Its mission is to accelerate the transition to a sustainable, regenerative and equitable ocean economy that supports a healthy ocean, society and economy.

https://www.weforum.org/friends-of-ocean-action/

This release was published on openPR.