Page 28 - Islands Business October 2023 edition

Ocean Conservation Commitments

and the Niue & Ocean Wide Trust

A holistic approach to support Niue’s climate resilience and ecological,
economic, and cultural prosperity

There is no other place on Earth quite like Niue. Halfway between Fiji and the Cook Islands, Niue is renowned as one of the world’s
largest raised coral atolls and one of its smallest self-governing nations. Its marine territory of 321,018km — an area 1,200 times
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the size of the island’s landmass — contains pristine coral reefs and undersea mountains that host a diverse array of marine life.
Niue’s waters serve as a sanctuary for sharks, whales, dolphins, rays, and turtles and remain largely unexploited and pristine. The
goal is to keep these waters that way for the benefit of all.
Niue has made progressive ocean conservation and sustainable development commitments over the last decade, culminating
in 2021 and 2022 when the country ensured legal protections for its entire exclusive economic zone. This designation of the
Nukutuluea Multiple-Use Marine Park and Moana Mahu Large-scale Marine Protected Area (MPA) was widely endorsed by Niue’s
government, people, and partners.

Appreciating the foundational importance of the ocean for its climate resilience, culture, livelihoods, and environment, Niue
developed a groundbreaking financing mechanism called Ocean Conservation Commitments (OCCs). At a cost of NZ $250 (US
$148), each OCC represents the cost of conservation, and leveraged associated benefits, across one square kilometre of the
Moana Mahu MPA for a period of 20 years. Proceeds raised through OCC sponsorships will be managed by the Niue & Ocean Wide
(NOW) Trust and used to fund a range of conservation, resilience, and sustainable development efforts that reinforce durable
ocean conservation.

With a Niue & Ocean Wide Trust capitalisation target of NZ $32 million (US $18 million), the Ocean
Conservation Commitments will fund holistic support for Niue’s climate resilience and ecological,
economic, and cultural prosperity for the benefit of future generations.
What are OCCs?
OCC sponsors become direct contributors to Niue’s marine conservation:
• An OCC is NZ $250 (NZ $12.50 / km / year, available in 20-year increments)
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• 127,000 OCCs are available, based on the size of Niue’s Moana Mahu MPA (127,000 km )
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How are they managed?
OCCs are managed by the NOW Trust, a trust established through a public private
partnership between the Government of Niue and a local nonprofit, Tofia Niue.
Allocation of funds will be governed by a Board of Trustees with detailed operational
policies and procedures.
Sponsor benefits: Niue
• An Annual Report that showcases conservation and sustainable
development outcomes Beveridge
• Impact stories Reef
• Monitoring, reporting, and verification materials
28 Islands Business, October 2023 Sponsored Content
127,000 km 2