NIUE’S model for financing long-term ocean conservation is attracting international investment, with more than half of its conservation commitments sold to supporters across 37 countries.

The initiative was presented at a COP31 high-level session, From Commitment to Action: Custodians of the Blue Pacific Continent, which examined how the Pacific can secure recognition and financing for the 28 million square kilometers of ocean under its stewardship.

Coral Pasisi, Vice President of the New Ocean Wide (NOW) Trust, explains how Niue developed a financial instrument that links ocean protection with investment in the resilience and livelihoods of its communities.

“We use those costs to structure a unit for every square kilometre of ocean. We sell one OCC, and that is $USD150, and that assures the protection of that square kilometre for 20 years, and hopefully in perpetuity,” she said.

The session held at the Moana Blue Pacific Pavillion showcases the showcased the Pacific Ocean Wide Ambition (POWA), a Pacific-owned and governed framework designed to recognise, value and finance ocean conservation, building on Niue’s existing Ocean Wide model.

Niue has 127,000 square kilometre of ocean commitments to sell. Pasisi said the initiative was already halfway towards meeting that target.

“The proceeds are invested through the New Ocean Wide Trust, with returns funding ocean protection, community resilience and opportunities for young people to participate in the blue economy.”

She adds, “Those purchasing commitments receive certificates recognising them as guardians of Niue’s conservation area and reports detailing how their contributions are used.”

The initiative has attracted support from individuals, businesses, philanthropic organisations, governments and multilateral funding sources.

“We are not financial specialists,” she said. “ We don’t come from a big fancy university that creates those financial regulatory systems or anything like that. We just are people who know the ocean, who’ve worked in that space for a long time, who are fishermen, fisherwomen, and we put all of our effort into creating something that actually would work.”

The initiative has also been selected as an Earthshot Prize finalist.

According to Pasisi the international interest had demonstrated that a conservation financing model developed in Niue could attract support beyond the country.

For Pasisi, the initiative is closely connected to the role the ocean has played in the lives of Pacific communities.

“We didn’t have money when we were kids. The ocean was our entertainment. It was our movie theatre. It was our pantry cupboard. And as we grew up, it became the source that underpinned our education. So it really gave us everything that we need,” she said.

She said the objective was to ensure future generations could maintain that relationship with the ocean.

“If it’s not in good health, and it can’t tell those stories to my kids or their children, then we’ve failed.”

The Pacific Ocean Wide Ambition seeks to build on Niue’s experience and extend the approach across the region, creating a framework through which countries and communities can receive direct, long-term financing for ocean stewardship.

The session also highlighted the Pacific’s position as a custodian of globally significant marine ecosystems, with the region seeking recognition and compensation for its role in protecting them.