Next week, global ocean champions will gather in Busan, Korea, for the 10th Our Ocean Conference (OOC), celebrating a decade of high‑profile commitments and underscoring the urgent need to accelerate action if the world is to meet its critical marine conservation and climate goals. Since its inception in 2014, the conference alone has mobilized an astonishing $133 billion toward ocean action—yet as key deadlines loom, experts warn that ambition must rise if humanity hopes to safeguard 30 percent of its seas by 2030 and bring the High Seas Treaty into force.

According to a new report released by the World Resources Institute (WRI) to mark the OOC’s 10th anniversary, more than 2,600 voluntary commitments have been announced at past conferences—collectively valued at roughly $160 billion. As of January 2025, 43 percent of those pledges have been fully delivered, 38 percent are in progress, and 18 percent have yet to begin.

The lion’s share of funding—$86.8 billion—has targeted ocean‑climate initiatives, from offshore wind farms and blue carbon projects to greener shipping corridors. Notably, 13 individual climate‑related commitments exceed $1 billion each, a testament to growing recognition that healthy seas can advance both carbon reduction and marine biodiversity.

Despite this momentum, WRI cautions that to achieve UN Sustainable Development Goal 14 (“Life Below Water”), the international community must invest $175 billion per year in ocean conservation alone, while overall climate finance needs soar to $1.3 trillion annually. As policymakers prepare for COP30 in November, integrating ocean‑based solutions into broader climate financing will be essential.

Further, Marine Protected Areas (MPAs) have emerged as one of OOC’s most tangible successes. An independent study by Oregon State University credits the conference with announcements that have yielded nearly 8.5 million km² of new MPAs—an expanse roughly the size of Brazil—accounting for almost 40 percent of the world’s protected marine territory. Yet with the “30×30” target—protecting 30 percent of global land and water by 2030—only now galvanizing widespread political will, experts emphasize that voluntary pledges must translate into binding action. As of late April, just 21 nations have ratified the High Seas Treaty (BBNJ), the landmark agreement to extend conservation beyond national jurisdictions. Observers expect that at least 60 ratifications will be needed by June’s UN Ocean Conference for the treaty to enter into force.

Greece’s leadership last year highlighted the blue economy’s potential. From ecotourism to renewable energy and green shipping, vibrant sustainable development and a healthy ocean can go hand‑in‑hand. While the country announced 21 new commitments for the ocean, worth more than 800 million USD. This year, we expect that leadership from Korea will shed new light to what is possible, if we realize that ocean is one of the greatest foundations of our global economy.

As the Our Ocean Conference turns ten, its track record of mobilizing capital and attention offers a blueprint for what is possible. But with global oceans under historic pressure—from overfishing and pollution to rising temperatures—experts agree the next decade will demand an even greater sense of urgency and cooperation. If world leaders can translate lofty pledges into concrete protection and restoration, the conference may yet fulfill its founding promise: to safeguard the seascapes upon which billions of lives and livelihoods depend.