Ocean philanthropy comprises a meager total of the charitable donations made worldwide, but the sector is seeing encouraging growth led by long-term commitments from philanthropic giants and the emergence of new players in the space.
According to a report from ocean conservation data firm Our Shared Seas in collaboration with San Francisco, California, U.S.A.-based CEA Consulting, ocean philanthropy funding more than doubled from 2010 to 2022, rising from USD 430 million (EUR 387 million) in 2010 to USD 1 billion (EUR 900 million).
Science projects were the biggest recipient of funding during the period, receiving USD 2.2 billion (EUR 2 billion) from 2010 to 2022. Fisheries and aquaculture projects came in second place, raising USD 1.8 billion (EUR 1.6 billion).
One category that saw considerable growth in the period was climate-based projects, such as green shipping initiatives, ocean carbon dioxide removal projects, and offshore wind farms. The amount funneled into the category totaled USD 412 million (EUR 371 million), and although this is a small amount compared to the leading categories, its annual growth rate averaged 33 percent from 2010 to 2022.
Nevertheless, ocean-based initiatives still receive less than 1 percent of global philanthropic funding.
"The ocean covers 70 percent of the Earth’s surface but receives less than 1 percent of global philanthropic giving," Forrest Lewis, an associate at CEA Consulting and one of the report’s lead authors, said.
Growth in the space is likely to continue, but at a slower rate, according to the report, especially as the result of some of the largest organizations engaged in global ocean philanthropy rolling out revised long-term strategies.
The David and Lucile Packard Foundation recently released a new investment strategy, while the Gordon And Betty Moore Foundation and the Walton Family Foundation are expected to release new strategies shortly, as their current investment strategies conclude in 2025 and 2026, respectively.
The report found these three foundations handed out more ocean grants than any other organizations during the time frame studied.
New players are also entering the field, according to Our Shared Seas's 2022 list of the top 20 marine philanthropic donors.
"While it remains highly concentrated in the top 10 to 20 funders, with especially a lot of funding and influence from the top three to four, there are also growing trends in the popularity and funding of ocean issues and new large-scale donors who have been entering the space," Lewis said.
Oceankind – a foundation started by Lucinda Southworth, the wife of Google Founder Larry Page – has recently donated the most money to oceanic efforts besides the Packard Foundation, Our Shared Seas found.
The report also uncovered how the geographical distribution of funding has changed over the last 12 years. North America was by far the largest recipient of funding by continent, receiving USD 1.8 billion during the period, while the rest of the world combined received USD 1.9 billion (EUR 1.7 billion). USD 645 million (EUR 580 million) went to an “unspecified” location.
Funding to the Global South is higher than ever, but the amount sent there compared to the rest of the world is still relatively small, according to Lewis.
"The [Global South] is receiving more funding relative to what they've been receiving historically, but as a percentage of the amount of funding going into the ocean space, they aren't necessarily receiving a greater percent of funding than they were five or 10 years ago," he said.
Lewis said this is a pressing issue, as the Global South lacks the resources that similar operations elsewhere possess and is particularly vulnerable to the ongoing effects of climate change.
"It's a problem, and more funding should go into the [region], especially to organizations that are headquartered and led by Global South leaders," he said.
CEA Consulting will be collecting data again in 2025, with the aim of publishing another report on the issue next year. The report was financially backed by Builders Initiative, the David and Lucile Packard Foundation, Oceans 5, and Oceankind. CEA Consulting is not a grant recipient from these organizations.
