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The ocean and coastal ecosystems are critical for global biodiversity, food security, and carbon sequestration, but they face severe threats from climate change and pollution. Despite an estimated annual funding need of USD 175 billion to USD 459 billion to safeguard the ocean, only USD 11 billion has been invested via philanthropy and Official Development Assistance over the last decade. The Green Climate Fund (GCF) aims to close this gap by creating enabling environments, catalysing innovation, de-risking projects to mobilise private finance, and strengthening national financial institutions through tools like blue bonds and debt swaps. Current GCF initiatives include the Global Fund for Coral Reefs, targeting 17 countries with a USD 500 million project value, and the Blue Action Fund, focusing on coastal resilience in the Western Indian Ocean region.