The Advisory Group on BBNJ Finance

In 1982, the United Nations Convention on the Law of the Sea (UNCLOS) – known as the “Constitution of the Ocean” – was adopted to bring a new regime of law and order in the world’s oceans. To ensure the conservation and sustainable use of marine biological diversity in areas beyond national jurisdiction, the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ Agreement) was adopted on 19 June 2023.

The BBNJ Agreement was open for signature by all States and regional economic integration organisations from 20 September 2023. On 19 September 2025, Morocco became the 60th country to ratify, crossing the threshold to bring the Agreement into force. The BBNJ Agreement became legally binding 120 days later on 17 January 2026. 

The Conference of the Parties (COP) is the main decision-making body of the BBNJ Agreement. All countries that have ratified the BBNJ Agreement become Parties and participate in the COP.  Under the Agreement, the first Conference of the Parties (COP1) must convene within a year of entry into force, now likely toward the end of 2026. The UN General Assembly established a Preparatory Commission (PrepCom) to prepare for the entry into force of the BBNJ Agreement and ultimately the set of decisions that the Parties to the Agreement will be expected to take at COP1. PrepCom sessions are underway with the third and final scheduled for March 2026.

The CSDR is leading research focused on legal and governance elements to support the establishment of the BBNJ. In the lead up to ratification the Advisory Group was convened to provide independent expert analysis and thought leadership on the design and implementation of Article 52 of the BBNJ Agreement. The Centre is serving as the Secretariat to the BBNJ Expert Advisory Group. This work is supported by the financial contributions from Bloomberg Philanthropies.

The Group brings together global experts with diverse geographical and gender perspectives and specialised knowledge in international finance, ocean governance, and environmental law.

The Advisory Group's work aims to:

• Support the effective operationalisation of the BBNJ Agreement's financial mechanism by developing timely outputs designed to inform deliberations of Parties and the work of the Preparatory Commission Co-chairs. 
• Contribute diverse perspectives to advance discussions and offer expert insights.

Noting, the outputs of the advisory group represent independent inputs and do not necessarily represent the thinking of any government, regional body, or international organisation.