The forgotten $2,500 billion economy: why Prince Albert II is sounding the alarm in Monaco
Addressing the assembly, Prince Albert II delivered a passionate speech calling for a transition to the blue economy © Michaël Alesi / Prince’s Palace
The Sovereign inaugurated the second edition of the Blue Economy & Finance Forum (BEFF) at the Grimaldi Forum on Thursday 28 May, calling on investors and decision-makers to take decisive action in financing a sustainable blue economy.
Organised by the Prince Albert II of Monaco Foundation and the Oceanographic Institute, the BEFF brings together some 300 participants over two days — policymakers, entrepreneurs, banks, sovereign wealth funds and international experts — around a shared objective: accelerating the transition towards a sustainable maritime economy.
Last year, the inaugural edition generated an unprecedented financial mobilisation: more than €25 billion in investments identified for the ocean transition, and €8.7 billion in new firm commitments pledged through to 2030.
Accelerating the blue transition
In his opening address, Prince Albert II took stock of the ground covered since: “We have built an economy the size of a great nation, and forgotten to capitalise it (…) When we convened the first edition of this Forum, a year ago, the question was still whether the Ocean had its place on a balance sheet. I believe we have answered that.” He then added: “This year, the question is clearer and simpler. Not whether to invest in the Ocean, but how quickly, and with what boldness.”
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Noting that the blue economy generates $2,500 billion annually, the Sovereign pressed home his message: “Environmental constraint is not the enemy of returns — it is their origin.” His call to action was unequivocal: “Invest in the Ocean now. Invest at scale. And invest knowing what it truly is: not a risk to be managed, but the defining opportunity of our time.”
On the sidelines of the Forum, the Sovereign received H.H. Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of Frontier25, and Catherine Chabaud, France’s Minister Delegate for the Sea and Fisheries. He concluded his visit by touring the spaces dedicated to innovation and investment-ready solutions.
Photos: Michaël Alesi / Prince’s Palace