The Blue Economy and Finance Forum (BEFF) concluded on Sunday with a call for global responsibility to safeguard the world’s oceans, hosted by Prince Albert II of Monaco. World leaders, including Britain’s Prince William and Vietnam’s Prime Minister Phạm Minh Chính, emphasized the urgent need for collective action to address the escalating threats facing marine ecosystems.
Prince William, the Prince of Wales, described the challenge of protecting the oceans as "like none that we have faced before," warning that time is running out.
"Urgency and optimism have the power to bring about the action needed to change the course of history," he said in his address. "As the founder of the Earthshot Prize, I’ve seen incredible innovations that harness the ocean’s power while preserving its vitality. But we must act now—what once seemed an abundant resource is diminishing before our eyes."
The heir to the British throne stressed that the ocean, though under "enormous threat," can recover—but only with immediate, coordinated efforts. His remarks came as the United Nations seeks broader ratification of a treaty on ocean biodiversity, which currently lacks sufficient support to take effect.
The prince also referenced a recent conversation with renowned broadcaster Sir David Attenborough, who expressed dismay over human damage to the deep ocean floor. "If you did anything remotely like it on land, everybody would be up in arms," Attenborough said in a video released ahead of the forum.
Prime Minister Phạm Minh Chính of Vietnam addressed the forum’s plenary session, framing the ocean as both a vital resource and a unifying global space. For Vietnam, he said, the sea is not just geography but a core part of national identity.
"Sustainably developing the blue economy is a strategic choice for Vietnam—one that will help us become a high-income nation by 2045," he stated. However, he noted a stark paradox: while oceans cover 70% of the planet, conservation efforts remain severely underfunded compared to other UN Sustainable Development Goals.
To address this, Chính proposed enhanced investment in marine science, technology transfer, and international data-sharing. He outlined a collaborative model where governments lead, businesses pioneer, and citizens support, with developed nations aiding sustainable finance initiatives.
"Việt Nam is ready to pilot this model," he declared, also advocating for stronger global governance centered on the UN and international law. His proposals were met with broad approval, including from French President Emmanuel Macron, who echoed the need for unified action across political, economic, and scientific spheres.
In closing, Prince Albert II highlighted the forum’s concrete outcomes, including commitments to sustainable fisheries and blue economy innovations. The event, co-hosted by Monaco’s royal family and oceanographic institutions, drew policymakers, investors, and experts aiming to align economic growth with marine preservation.
Vietnam’s participation marked its first attendance at the UN Ocean Conference, signaling its commitment to global environmental cooperation. The OECD estimates the ocean’s economic value will surpass $3 trillion by 2030, yet $175 billion in annual sustainable investment is needed—a goal requiring unprecedented public-private collaboration.
The 2025 UN Ocean Conference, co-hosted by France and a developing nation, continues to drive high-level discussions on balancing marine health with economic development. As Prince William asserted, "The need to act is no longer out of sight—it is in full view."