€4B target met 7 months early: The original Clean Oceans Initiative exceeded its goal ahead of schedule, funding major plastic pollution reduction projects globally.
€3B commitment for 2026–2030: COI 2.0 expands its focus to prevention and circular economy solutions, signaling deeper systemic change.
Stronger global collaboration: With the Asian Development Bank joining, the initiative boosts its reach and expertise in Asia—home to the world’s highest plastic discharge rates.
Six leading public development banks have launched Clean Oceans Initiative 2.0, committing €3 billion between 2026 and 2030 to fight marine plastic pollution and support waste prevention and circular economy projects.
This renewed initiative, unveiled at the UN Ocean Conference in Nice, builds on the success of the original Clean Oceans Initiative (COI), which reached its €4 billion financing target seven months ahead of schedule. Projects funded to date span solid waste and wastewater management, including efforts in Sri Lanka, China, Egypt, South Africa, Togo, Senegal, Benin, Morocco, and Ecuador.
“Delivering on our initial target ahead of schedule demonstrates the power of partnership and collective action,” said EIB Vice-President Ambroise Fayolle. “Through the Clean Oceans Initiative 2.0, we are expanding our collaboration with local partners to deliver innovative solutions where they are needed most.”
COI 2.0 goes further than its predecessor, emphasizing prevention strategies and circular economy models, including initiatives that support alternatives to plastic. It will also adopt scientifically robust, easy-to-apply impact indicators to track progress.
With the Asian Development Bank (ADB) joining as a new partner, the initiative gains crucial regional capacity. Asia, identified as the region with the highest volume of plastic entering the ocean, is a critical battleground for ocean health.
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“The EIB is committed to supporting projects that make a real and measurable difference, setting new benchmarks for impact as we continue our mission to keep plastics out of the world’s oceans,” added Fayolle.
The founding partners include the Agence Française de Développement (AFD), European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW), Cassa Depositi e Prestiti (CDP), European Bank for Reconstruction and Development (EBRD), and now ADB, together forming one of the most coordinated financial efforts targeting marine environmental sustainability.
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