Few assets contribute more to human prosperity than the ocean. It regulates the global climate, carries more than 80% of global trade by volume and supports the livelihoods of billions of people. Among the 17 Sustainable Development Goals, life below water continues to receive the least financial support, attracting only about 1% of official development assistance. This imbalance reveals how poorly investment priorities reflect our dependence upon the natural systems that sustain modern economies.
It was against this backdrop that governments, ocean experts, investors, policymakers, scientists and conservation leaders gathered at the Monaco Blue Initiative and Blue Economy and Finance Forum last month to discuss a range of issues around financing mechanisms, marine protection and economic development. The biggest underlying question that ran through many of the conversations was how societies should value nature in an era where economic prosperity depends increasingly upon the health of natural systems.
For Africa, this question carries particular significance. The continent's future is often discussed through the lens of its mineral wealth, agricultural potential and extraordinary terrestrial biodiversity, but more than 38,000 kilometres of coastline supports communities, industries and ecosystems whose contribution to Africa's prosperity remains consistently undervalued. The tendency to separate conservation from development has contributed to this oversight. In reality, for coastal economies, ecological health and economic wellbeing are often inseparable.
The sea supports commerce, food production and cultural exchange that long predate the modern life, while continuing to provide livelihoods for millions of people whose fortunes remain closely tied to the condition of marine ecosystems. For coastal communities, the ocean is neither a policy construct nor an environmental cause, simply a source of daily income, food security and economic opportunity.
This relationship becomes even clearer when viewed through the lens of food systems and employment. Globally, more than 3 billion people rely on fish as a significant source of protein, while fisheries and aquaculture support the livelihoods of hundreds of millions of people. In Africa, the fisheries and aquaculture sector is estimated to support more than 12 million livelihoods directly, with millions more benefiting through processing, transport and trade..
Africa's blue economy is already estimated to generate close to US$300 billion annually and support nearly 50 million jobs, placing it among the continent's most significant economic assets. Projections suggest that figure could exceed US$400 billion by 2030, provided investment in sustainable fisheries, coastal tourism, marine transport, renewable energy and ecosystem restoration keeps pace with the opportunity before us.
The scale of that opportunity is difficult to ignore. The almost obvious conclusion is that ecological health and economic prosperity are not competing objectives. Healthy ecosystems strengthen economic resilience, support employment and create the conditions for long-term growth.
This understanding was reflected in one of the more encouraging features of the discussions in Monaco, especially the extent to which the traditional distinction between conservation and development is becoming increasingly outdated.
For decades, environmental protection was often presented as a constraint upon growth, while economic development was treated as an objective that is independent of ecological considerations. That view is becoming progressively harder to sustain when the evidence demonstrates that nature-positive enterprise underpins food security, supports industries, reduces vulnerability and generates sustainable revenues for business and government alike.
The challenge now is not simply attracting more investment into the blue economy but ensuring that investment reaches the people and places where it can generate lasting impact. Over many years in conservation, I have come to appreciate that successful environmental stewardship depends less upon the volume of money invested but more upon the quality of the partnerships through which that investment is deployed. Communities may lack access to capital or political influence, but they possess forms of knowledge that cannot be replicated through technical studies or external expertise, particularly where ecosystems have been managed, used and observed over generations. The most effective solutions are rarely imposed; they are built through trust, shared ownership and long-term collaboration.
If the ocean is truly one of the world's most valuable economic assets, then its future cannot be secured through finance alone. As governments, investors, and institutions seek to further unlock the promise of the blue economy, they would do well to remember that sustainable prosperity is built not only on healthy ecosystems, but on strong partnerships between people and nature.
Humphrey is a Kenyan entrepreneur, conservationist, and IUCN Patron of Nature
