Don’t think small, think at scale Palau President challenges global investors to scale up Ocean finance
NICE (TPL NEWS)—As the epicentre of global Ocean messaging celebrates World Ocean Day in Monaco and heads to Nice, France for the opening sessions of the 3rd UN Oceans Conference, Palau’s President Surangel Whipps Jr has delivered a straight-talking missive tasking governments and private sector investors to urgently finance Ocean-saving action: don’t think small, think differently.
Speaking at the final panel session of the Blue Economy and Finance Forum hosted on the weekend, President Whipps Jr called on both private sector and government leaders considering Ocean financing to scale up blue economy solutions, asking those present not to think of his nation as ‘small’.
In a session aimed at energising and setting the scene for bold leadership to help unlock funds for ocean finance to ensure sustainable blue economy initiatives, Whipps Jr and other leaders from Norway, Germany, Chile, Vietnam and Cabo Verde spoke to the financial capital needed for ocean health and coastal prosperity.
“In Palau, we’re not asking you to think small because we’re small. We’re asking you to think differently about what scale means. Our ocean territory is 200 times larger than our land mass. We offer what investors seek most: stable governance, proven environmental stewardship spanning generations, and innovation born from necessity,” he said.
The Blue Economy Finance Forum is setting the stage for a plethora of announcements, signings, partnership events and ambition all aimed at connecting big money and urgent action to the big promises –including hundreds of new commitments to add to more than 2,000 made at the first UNOC in 2017.
Palau is currently the Chair of the Alliance of Small Islands States, AOSIS, a powerful role which rotates between the Caribbean and Pacific nations every four years. Palau is also host of the Office of the Pacific Ocean Commissioner, OPOC, a convening body for an Alliance membership representing Pacific nations, agencies, and civil society partners.
“Small island nations stand at a crossroads, yet the Ocean remains our greatest hope—our food security, economic foundation, and path to climate resilience,” he said.
He said of all the financial flows to the Pacific region, only 3 percent comes from private sources.
“This means global private capital is missing some of the world’s most promising investment opportunities. Consider what you’re overlooking: renewable ocean energy that could power the world many times over. Marine ecosystems that can sustainably feed a growing global population. Communities whose traditional knowledge holds keys to conservation solutions that could help achieve global climate targets. All while delivering competitive returns—proving that doing global good and doing well financially are not mutually exclusive,” the President added.
Earlier, with other Pacific leaders at an Unlocking Blue Pacific Prosperity side event, Palau had shared on the unified approach of Pacific nations to sustainably manage Blue Pacific Continent resources through protected areas– more than USD100m has been raised so far towards a USD$500m target by 2030. Supporting at scale should note the USD$1 trillion-plus in government subsidies for the global fossil fuel economy, Whipps Jr said.
“This isn’t theory—it’s proven momentum turning vision into investment and investment into measurable impact. What we need is a comprehensive financing ecosystem: grants for science and governance, patient capital for community-led enterprises, sustainable revenue mechanisms for marine protected areas, and robust local financial systems supporting nature-positive businesses,” stated Whipps Jr…..PACNEWS