The island nation of Niue is making millions of dollars by offering the world the opportunity to sponsor the care of every square kilometre of its Marine Protected Area.
Frustration with accessing global finance for climate change adaptation has led the country to develop its own Ocean Conservation Commitments funding model, in which anyone around the world could sponsor a slice of Niue's ocean for $250 per square kilometre.
"You're not a shareholder, you're a careholder," Minister of Natural Resources Mona Ainu'u explained.
She said she was extremely proud of the initiative, which has so far raised $15 million toward a $32 million goal.
She said accessing donor and international funding has been challenging, and her small country of only 1700 residents couldn't afford to wait any longer.
"I'm very proud to go out there to the global community and say, hey, this is something we achieved.
She even had the opportunity to explain the idea to King Charles and gift him his own square kilometre.
"He was so excited, he said he was really blessed.
"We had a chat on how important it is for us and not just for us but the global community, and he said absolutely, that's what he wants to support."
Niue Ocean Wide project manager Brendan Pasisi said the largest number of sponsors have come from Germany, and the Bezos Earth Fund has contributed US$4 million (NZ$7 million).
"Over 33 countries represented in the Ocean Conservation Commitments contributions, you know, over 500 individuals, 24 corporations, three bilaterals," he said.
The funding has already been put to good use.
Coral Pasisi, a trustee of Niue Ocean Wide, said more than half of all the high school students on the island have become PADI certified for scuba diving.
"Most of them have actually never been over the reef to see the incredible ocean resources they are custodians of. Being able to fund their ability to learn but also to create sustainable blue businesses so some of the kids are now pursuing whale watching as whale watching guide support to the local dive companies," she said.
The money is also being used for insurance against climate change or natural disasters. In 2004, Niue was hit by Cyclone Heta – two people died, and the damage cost the country five times its GDP.
Mona Ainu'u said it has been very difficult for the Government to get the insurance, but the Ocean Conservation Commitments funding has changed that.
"So we have now managed to have the insurance in place, which gives us, as a Government, as people, just gives us that little safe space," she said.
On top of that, every village has been given dedicated funds to manage their coastal areas and help generate revenue.
Pasisi said that includes using traditional knowledge, such as making fishing rods and canoes.
"Villages are sick of being consulted about climate change and biodiversity loss and then no action, so this is really game-changing.
"Some of the villages are using it to capture some of their traditional knowledge so they're funding the older generation to come together with the younger generation," she said.
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