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Financing Maritime Innovation

Port Cities Leading the Decarbonization and Blue Economy Transition

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Monaco, June 6, 2025 – In the context of the Blue Economy Finance Forum (BEFF) and aligned with the UN Ocean Conference (UNOC), the innovation strategy firm BLUMORPHO, in partnership with the International Association of Port Cities (AIVP) and with the support of the Prince Albert II of Monaco Foundation, organized a high-level co-construction day under its international initiative “Financing Maritime Innovation and Infrastructure for Climate and Ocean.” 

This initiative aims to implement concrete financial mechanisms to meet the challenges and goals of achieving net-zero emissions and enabling the eco-transition of maritime and urban port ecosystems. 

Opening the event, Bruno Delsalle, General Manager of AIVP, speaking on behalf of Edouard Philippe, President of AIVP, emphasized that port cities have evolved far beyond their historical role as points of transit. “As key players in the globalisation of trade, port cities bear a large share of the responsibility for the climate change. But the richness of their ecosystem means that they are also home to some of the solutions. Their role in addressing climate change goes far beyond decarbonizing port operations, it encompasses biodiversity, mobility, and the public acceptability of industrial development”. 

Romain Ciarlet, Executive Director of Prince Albert II of Monaco Foundation, reinforced the alignment of this gathering with the goals of the Blue Economy Finance Forum: “The Foundation is deeply committed to ocean protection, biodiversity preservation, and climate resilience. Achieving these goals requires both public engagement and private capital. That’s the ambition of the ReOcean Fund: to further encourage private investment by investing in companies that deliver concrete, science based innovations for ocean regeneration. We are pleased to collaborate with BLUMORPHO, helping to structure impactful projects and foster the collaboration essential to building a sustainable and inclusive blue economy.” 

Held at the iconic Yacht Club of Monaco, the venue symbolically underscored Monaco’s leadership in advancing sustainable yachting. The Club’s initiatives, such as the SEA Index® to measure superyacht carbon footprints and the Monaco Energy Boat Challenge, highlight its commitment to decarbonization, as reminded by Bernard d’Alessandri, General Secretary of Monaco Yacht Club in the welcoming address. 

Following a structured dialogue led by BLUMORPHO between port cities, innovators, and financiers, two expert panels explored concrete pathways for maritime transition: 

Panel 1: Green Infrastructure Financing
Best Practices and Collaboration Schemes

Featuring speakers from Republic Bank, NatPower H, Costa Crociere, and the Port of San Diego, this session emphasized real-world strategies for green infrastructure investment. 

“At the Port of San Diego, we are deploying best practices into action. Ten years ago, we launched our Blue Economy Incubator to move from plans to pilot projects, and from pilots to scalable ocean-positive solutions. Supporting start-ups in sustainable aquaculture, coastal resilience, and zero-emission maritime operations is our way of building the future, together with innovators, regulators, and communities.”  Jason H. Giffen, Chief Sustainability & Innovation Officer, Port of San Diego 

Panel 2: A New Approach to Financing Ecosystems:
Debt, Bonds and Alternative Mechanisms

This session brought together representatives from INEOS Energy, Plurimi, Catalytic Finance Foundation, Primo Climate, and the Port of Bordeaux to explore innovative tools such as blended finance, private equity, bonds and debt financing. 

In the afternoon, participants engaged in workshops focused on flagship decarbonization and infrastructure projects from the Port of Bordeaux (France), Port of Riga (Latvia), Port of Kribi (Cameroon), and the Port of San Diego (USA). As an illustration, the Port of Riga presented its vision for developing industrial parks dedicated to offshore wind energy, highlighting the Baltic Sea as a key emerging market for renewable energy and cross-border cooperation.  

The day concluded with a strong call for systemic collaboration: “The maritime sector is undergoing profound change, but we cannot achieve our goals in isolation. Port cities must partner in scaling innovation and building integrated ecosystems, from energy to digital platforms to new fuels. We must act together at the land-sea interface.” Sébastien Knecht de Massy, President, Monaco Chamber of Shipping 

The cruise sector echoed this vision: “The cruise industry is fully committed to net-zero emissions by 2050. Achieving this goal requires working on a combination of different solutions. We pioneered LNG, use shore power in ports where available, test biofuels, and see potential in e-fuels. Collaboration between public and private is key, as well as governments and investors support to enhance port infrastructure. Transforming ports into energy hubs isn’t just a challenge, it’s an opportunity for all the stakeholders involved.” said Roberto Alberti, SVP & Chief Corporate Officer, Costa Crociere. 

As Edouard Philippe, President of AIVP and Mayor of Le Havre, highlighted in his speech at the BEFF plenary: “Port and maritime activities are embedded in lived territories. Citizens have legitimate expectations. To organize the decarbonization and the energy transition, we must also think about integration with local authorities to find solutions adapted to the context of each City Port territory in terms of investment support and social acceptability of port activities, which is an extremely sensitive issue.” 

 

Port cities thus emerge as key players in both climate and social resilience, with strong governance capacities and the ability to integrate adjacent sectors like aquaculture, tourism, and biodiversity while driving economic growth. 

“Carbon Capture and Storage becomes investable when you structure the full value chain, from capture to transport to permanent storage with the right infrastructure and partnerships. Coordination is just as crucial as technology.” David Bucknall, CEO, INEOS Energy 

The Role of Finance: Enabling Ambitions with Strategic Capital 

The event demonstrated growing investor interest in financing the maritime transition.

Republic Bank has integrated the financing of green port infrastructure into its sustainability strategy. “We’re seeing a growing market readiness across Caribbean ports to decarbonize. There’s a wave of innovation underway, but we risk being left behind regionally if we don’t ensure projects are bankable.” Tisha Marajh, Group Sustainability Officer, Republic Bank

Jean-Frédéric Laurent, CEO of Port of Bordeaux, emphasized: “Blended finance and blue bonds can only serve port cities if they can define, certify, and monitor their post-fossil roadmap. Certification reduces financial risk and enables collaboration. Digital tools like digital twins will also contribute to it bringing relevant and real time data.”

The Catalytic Finance Foundation’s new fund dedicated to decarbonizing ports also drew strong attention. “The key question is not how much money is needed to support the decarbonization of the maritime industry, but to build collaborative financing models that ensure profitability and attract investment. The objective is to get it right, so investment and capital will follow.” Géraldine Andrieux, CEO, BLUMORPHO

“One key takeaway,” added Alberto Cappato, Director of Innovation, Development and Sustainability at Porto Antico di Genova“is that public funds should be used to crowd-in private investment across entire value chains. Rather than focusing on isolated solutions, we need a systemic, ecosystem-based approach.

Positive momentum was confirmed by Peter Munongo Aboko, Directorate of Planning and Environment at Port of Kribi: “This day was a real success. It helped validate the strategic vision of the General Manager of PAK, M. Patrice Melom, and opened new pathways to build strategic partnerships for sustainable growth, combining renewable energy production, aquaculture, biodiversity protection, and climate resilience. Kribi’s role as a regional hub is increasingly recognized, and our goal is clear: to catalyze inclusive development that benefits both our partners and local communities.”

The momentum generated by the Financing Maritime Innovation and Infrastructure for Climate and Ocean initiative will continue through the implementation of concrete projects that align strategic capital with long-term climate and societal goals.  The next major milestone will be the presentation of outcomes at the AIVP World Conference Cities & Ports 2025, taking place in New York from November 18 to 21, 2025. This international forum will offer a strategic platform to showcase the results of the collaboration between AIVP and BLUMORPHO, including flagship projects, financing mechanisms, and investment-ready ecosystems already demonstrating impact.

“If we want to accelerate the decarbonization of port cities and maritime industries, we must move beyond traditional ROI and embrace a triple bottom line. The value we create must be economic, environmental, and social. That’s the only way to make innovation bankable and scalable.”
Géraldine Andrieux, CEO, BLUMORPHO

“It’s rewarding to see our work at BLUMORPHO recognized. By aligning innovation, finance, and strategic priorities, and collaborating with AIVP, we are enabling actionable business models for maritime decarbonization and sustainability. These are not just concepts they are frameworks for real progress.” added Marine Hamelin, Head of Blue Economy, BLUMORPHO

Tisha Marajh of Republic Bank concluded with a call to action: “We don’t have time to waste. We are among the most affected by climate change. Phased investments tailored to attract different kinds of financing can provide a more sustainable path forward. We also need systems to identify small upstream projects, manage ESG risks, and facilitate technology transfer. Sustainable finance is a market opportunity, and we, as financial institutions, are ready to engage, if the right conditions are in place and at global scale.”

About BLUMORPHO

BLUMORPHO is a boutique innovation strategy firm and ecosystem-driven platform dedicated to accelerating the deployment of impactful solutions and projects. Positioned at the intersection of complex markets and high-growth opportunities, BLUMORPHO bridges emerging innovations, market needs, and financing pathways. The company designs and operates innovation programs and events to unlock untapped value, enable adoption at scale, and structure investment-ready projects in collaboration with strategic financial partners.

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About AIVP

The International Association of Port Cities (AIVP) is the leading global network promoting sustainable port city development. Founded over 35 years ago by major European port cities, AIVP brings together nearly 200 members in 45 countries, from local governments and port authorities to businesses. Through its Agenda 2030, AIVP supports integrated strategies that align climate action, biodiversity, mobility, and social inclusion, positioning port cities as key players in the global transition.  

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