Bloomberg commits $260m to ocean protection

By Samuel Ogunsona

Bloomberg Philanthropies announced a $260 million expansion of the Bloomberg Ocean Initiative.

Lagos and Ondo have the longest coastlines in Nigeria each state not less than 180km long

This announcement was made on Monday at the Earthshot Prize Impact Assembly during London Climate Action Week.

The new phase targets implementation and transparency, with a focus on creating protections across the high seas as the 2030 deadline for protecting 30% of the ocean approaches.

In a press release made available to Irohinodua, Patricia E. Harris, CEO of Bloomberg Philanthropies, said, “Our new commitment marks the next phase of the Bloomberg Ocean Initiative. Over the years, we have made important progress in protecting our ocean, but we still have a long way to go. We look forward to working with partners to not only improve leadership and governance on the issue but also strengthen economies and safeguard the livelihoods of the billions of people who rely on the ocean every day.”

With the High Seas Treaty now in force, the funding will help partners establish the first marine protected areas under the treaty.

The initiative will work with governments, local communities, and scientists to identify ecologically critical regions and build the monitoring and enforcement systems needed to sustain them.

Small coastal and island nations will get expanded technical, legal, and policy support for ocean negotiations and for meeting commitments under international agreements. Bloomberg will also scale satellite monitoring, artificial intelligence, and public data platforms to improve accountability and decision-making across the global ocean.

The initiative will add coral reef restoration to its work, focusing on areas already prioritized for long-term protection.

It will test new restoration approaches and pilot projects for reefs damaged by marine heatwaves, pollution, and severe storms, using data from 50 Reefs+ that identified reefs with the strongest potential to survive climate change.

The expanded program will reach new countries including the Marshall Islands, Mexico, and the United Kingdom, plus other regions key to marine biodiversity, sustainable fisheries, and high-seas conservation.

Those areas include major coral reefs, tuna migration corridors, and deep-sea ecosystems that support biodiversity, food security, and ocean health.