How faith communities are transforming approaches to ocean finance

As the UN Ocean Conference (UNOC3) opens in Nice, France, an unexpected catalyst for ocean finance transformation is emerging – faith communities.

While conventional blue economy investments often struggle to balance profit with protection, religious institutions are arriving with concrete frameworks showing how integrating spiritual values with investment decisions can achieve both ecological restoration and community prosperity at an unprecedented scale.

This breakthrough matters urgently. Only 8.3% of the world's oceans has any form of protection, with merely 2.8% effectively protected. At current rates, we'll reach only 9.7% by 2030 – catastrophically short of the 30% scientists say is essential for ocean health.

The World Economic Forum's Faith in Action initiative recognizes faith communities' untapped potential. In the lead up to UNOC3, including at the Blue Economy and Finance Forum in Monaco, religious leaders have been highlighting how their institutions – representing 85% of the world's population – can reshape ocean finance through the "blue moral economy."

The blue moral economy – in reference to economic systems that integrate ethical imperatives from diverse faith traditions with regenerative marine practices – reimagines how we value and finance ocean conservation.

Faith groups collectively control approximately $5 trillion in assets, with Islamic finance alone representing $4 trillion. They own 8% of Earth's habitable land surface and represent the world's third-largest investing group.

Seven principles distinguish this approach:

Faith-based marine conservation consistently achieves faster adoption, higher compliance and more sustainable funding than conventional approaches – evidence that faith delegations are bringing to Nice.

In Tanzania's Misali Island, Islamic leaders' 2001 declaration of a hima (sacred protected zone) continues to cause remarkable change. Coral cover has rebounded from 31% to 45% by 2023, while 82% of fishers voluntarily abandon destructive practices, compared to less than 30% compliance with government regulations alone. Dynamite fishing, once weekly, has virtually disappeared.

Meanwhile, in Cambodia, Buddhist monks protecting Mekong River dolphins have achieved a 45% reduction in illegal fishing between 2012-2020, stabilizing populations at 85-92 individuals after decades of decline. Plus, economic benefits have followed: ecotourism receipts have risen 28%, while 85% of families now practice "conservation merit-making" – releasing catch portions on holy days.

In Brazil, Catholic fishing communities have established 28 marine extractive reserves protecting 1.1 million hectares since 2000. These faith-supported reserves maintain 32% higher fish stocks than unprotected areas, while securing livelihoods for 60,000 families.

The evidence from these initiatives demonstrates that faith community-based approaches consistently deliver strong compliance and sustained funding through religious giving, as well as greater resilience through political and economic transitions.

Both the World Economic Forum's Ocean Action Agenda and the Blue Economy and Finance Forum emphasize the need for innovative financing mechanisms. Faith communities at UNOC3 are highlighting three concrete pathways that can transform ocean conservation finance.

Three enablers can accelerate these models.

Impact measurement frameworks capturing ecological, community and spiritual values help track both mission and financial performance – with the Global Reporting Initiative's faith-based standards set for launch in 2025.

Technical bridge programmes pairing religious institutions with marine scientists and finance specialists increase deal flow by 300%, while cutting transaction costs by 40%.

Policy recognition unlocks billions: governments incorporating faith-based conservation into biodiversity strategies and enabling values-based investment are seeing results. Indonesia, Kenya, and Brazil lead in developing such frameworks.

The annual ocean finance gap to achieve Sustainable Development Goal 14 – Life below water – stands at $149 billion. While faith communities alone cannot bridge this gap, their participation catalyses a broader transformation in how we approach ocean finance.

When institutions that think in centuries rather than quarters enter the market, it fundamentally shifts what's possible. According to Faiths for UNOC3, faith-based initiatives consistently deliver on the blue moral economy through sustained funding through economic cycles and measurable conservation outcomes that persist through political transitions.

To scale ocean finance, we need every viable and ethical approach. Faith communities bring a unique combination of moral authority that transcends political divisions, $5 trillion in investment capacity and the patient capital needed for ocean protection and restoration.

They aren't just willing participants; they're uniquely equipped to lead this transformation at the scale and speed our oceans require.