Small Islands Big Picture episode 18: Protecting our oceans - is impact investing the big ticket for small islands?

Around the world, small islands are showing how smart investment can deliver big returns for oceans, communities and investors. If we truly want to protect our planet’s beautiful oceans and invest in the leadership and livelihoods of island communities, impacting investing must be part of the solution.

French Polynesia’s announcement of one of the world’s largest marine protected areas, made on the opening day of the UN Ocean Conference (UNOC3), set the tone: the world wants to protect our oceans, and small islands are leading the charge.

Yet the ocean remains the most underfunded target of the global sustainable development goals (SDG14). Less than 2% of aid money goes to marine protection - leaving small islands, though they are stewards of vast ocean spaces, struggling to access the capital needed for conservation and resilience.

In this episode of the Small Islands Big Picture podcast, hosts Matt and Emily are joined by RESI colleague Gail Hurley and a panel of expert guests to unpack how impact investing - an investment model that seeks both financial return and positive impact for communities and the environment, is already driving change - and what it could mean for oceans and small islands.

Impact investing is already happening all over the world - such as in Papua New Guinea, where coral reef-positive, women-owned businesses in the sustainable fisheries sector grew from $1m in guarantees into a $3m investment portfolio protecting reefs and livelihoods (The Global Fund for Coral Reefs - GFCR).

A must-listen for philanthropists, investors and governments looking to make an impact for the benefit of our oceans and small island communities.

Emily and Gail bring their reflections from UNOC3 in Nice, where this call for action was heard loud and clear.

Images from the United Nations Oceans Conference, 2025

Image credit:

Gail Hurley, RESI Co-Director, speaking during the 2025 United Nations Ocean Conference in Nice, France (UNOC3) - Sylvie Pope Photography

Image credit:

Karuna Rana - Director, Big Ocean States Initiative (BOSI) - making contribution during the RESI Side Event on enhancing ocean equity in SIDS. Photo by Sylvie Pope Photography

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Gail Hurley interviewing Yabanex Batista, Deputy Director - UN Global Team, Global Fund for Coral Reefs (GFCR) during the United Nations Oceans Conference, Nice, 2025 - Sylvie Pope Photography

Image credit:

Gail Hurley interviewing Karuna Rana during the United Nations Oceans Conference, Nice, 2025 - Sylvie Pope Photography

Show notes

In Island Voices, Karuna Rana from Mauritius explains why local solutions are key to overcoming investment “ticket size.” In the Explainer, Gail unpacks what impact investing is and why it matters. In the Big Picture, Yabanex Batista (Global Fund for Coral Reefs), Melissa Walsh (Ocean Risk and Resilience Action Alliance), and Hervé Lallement-Moe (Government of French Polynesia) discuss impact investing and the implications of UNOC3. Finally, in No Stupid Questions, Matt, Emily, and Gail ask how impact investing can support SIDS’ policy priorities.

Featuring:

• Emily Wilkinson | RESI Director and Principal Research Fellow at ODI Global
• Matthew Bishop | RESI Director and Senior Lecturer at the University of Sheffield
• Gail Hurley | RESI Director and Development Finance Expert
• Karuna Rana | Director, Big Ocean States Initiative (BOSI)
• Yabanex Batista | Deputy Director, Global Fund for Coral Reefs, United Nations Capital Development Fund
• Melissa Walsh Director | Director, Blue Finance & Scaling, Ocean Risk and Resilience Action Alliance (ORRAA)
• Hervé Lallement-Moe | Digital Economy Directorate, Government of French Polynesia