The Norwegian Government has pledged to provide NOK3 billion (£0.25bn) to promote sustainable ocean management.
The initiatives were announced at the Our Ocean conference in Oslo, which started yesterday and brings together 500 world leaders and 100 youth representatives.
They will present ideas and concrete solutions for how the world’s oceans can be protected and how to make better use of marine resources.
Ocean industries contribute around $1.5 trillion (£1.2tn) to the global economy every year and around 70% of Norwegian export revenues come from marine sectors.
The funding from Norway will be provided over five years between 2020 and 2024, focusing on tackling climate change with support for zero and low emission solutions in domestic shipping, floating offshore wind farm and a CO2 storage project.
Prime Minister Erna Solberg said: “We must protect the oceans from pollution but at the same time ensure that the oceans can continue to provide us with food and energy. It will only be possible to create new jobs and new industries if we ensure sustainable management of marine areas and make use of new technology.
“All countries need to do more and Norway will step up its efforts both nationally and internationally.”