UN Protocol Sets New Ocean Investment Standards for Banks

The United Nations Global Compact (UNGC) and the United Nations Environment Programme Finance Initiative (UNEP FI) have released an updated version of the Ocean Investment Protocol (OIP), which for the first time includes dedicated recommendations for central banks, financial regulators and supervisors.

Developed alongside WWF's Greening Financial Regulation Initiative, the updated Protocol is designed to strengthen the financial system's role in supporting a healthy and resilient ocean. 

Building on the original framework launched in May 2025, it aims to help direct investment toward a sustainable ocean economy, addressing ocean-related risks and opportunities across financial institutions, insurers, businesses and public authorities.

Why ocean health matters to financial systems

The revised OIP reflects a growing understanding that the declining health of the ocean carries significant economic and financial consequences, alongside environmental ones.

Ocean-related dependencies and risks can affect financial stability, sovereign creditworthiness, food and energy security, international trade and the resilience of communities.

The Protocol calls for coordinated action across financial institutions, governments, ocean industries and development finance institutions. 

It aims to help stakeholders understand how their decisions affect marine ecosystems and how ocean degradation can in turn influence their own operations and investments.

By embedding ocean considerations into financial and economic planning, the framework seeks to advance long-term resilience while supporting a sustainable and inclusive ocean economy.

"The OIP reflects the importance of scaling up and accelerating the transition to a Sustainable Ocean Economy, which we recognise as the use of ocean resources for economic growth, improved livelihoods and jobs," says Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, in the OIP.

"To achieve this vision, a comprehensive foundation is needed for the ocean economy to transform into a Sustainable Ocean Economy.

Central banks and regulators enter the frame

The inclusion of guidance for central banks, financial regulators and supervisors marks a new development in the Protocol, acknowledging the role these authorities play in assessing and managing systemic risk.

The guidance encourages them to evaluate their own exposure to ocean-related risks, including through monetary policy portfolios and collateral arrangements. 

It also recommends incorporating ocean-related risks into existing environmental and social risk frameworks used by financial institutions.

Central banks and supervisors are encouraged to develop risk-assessment tools, collaborate with governments and development banks and align financial policies with global ocean sustainability frameworks.

"The ocean is reaching a turning point. It is now absorbing carbon at an unsustainable rate," says Eric Usher, Head of UNEP Finance Initiative, in the OIP.

"Without clear policy signals, robust regulation and strategic public investment, private capital will not flow at the scale or speed required to protect and restore the ocean.

"By 2050, the market value of a refocused, sustainable and fairly shared ocean economy is projected to reach US$5.5tn.

He adds that the necessary solutions exist – such as offshore renewables, nature-based coastal defences, sustainable seafood systems – but says “they will only scale if governments set the right conditions for success”.

These recommendations aim to help authorities identify systemic vulnerabilities and support the movement of capital towards sustainable ocean activities.

Improved access to reliable ocean data, shared measurement methodologies and credible investment opportunities is identified as critical to scaling finance across the sustainable ocean economy.

Mobilising public and private capital

The updated Protocol underlines the importance of public policy and development finance in creating conditions that can attract private investment.

Governments are encouraged to develop Sustainable Ocean Plans, incorporate ocean considerations into sustainability taxonomies and national ocean accounts and deploy public capital to support the transition. 

The recommendations also call for climate- and nature-related disclosures that account for ocean dependencies, impacts and risks, alongside fair financial services for coastal communities.

Development finance institutions are encouraged to support projects in the Global South, bundle smaller investment opportunities, expand sustainable finance products and help reduce project risks.

Through coordinated action across public and private stakeholders, the Protocol aims to direct capital towards ocean health, economic resilience and progress towards global climate, biodiversity and Sustainable Development Goal commitments.

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