ESG Today writes that Nestlé and private equity investor HQ Capital are some of the companies that contributed to the 201 million financing. O14C was launched back in 2020 with the purpose to solve UN Sustainable Development Goal 14, Life Below Water, which aims to “conserve and sustainably use the oceans, seas and marine resources for sustainable development”.

O14C experts will do that by financially helping companies that can contribute to preserving ocean ecosystems, as well as the sustainable development of companies that work near or on the world's large waterways.

The fund will invest in early-stage companies that can offer solutions that can address food security and marine ecosystems protection across five major activities, including sustainable aquaculture, sustainable fisheries and circular plastics.

Chris Gorell Barnes, co-founder of O14C, said that "oceans are the critical life-support system for life on earth. The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people. If it’s not functioning it will be game over for humanity."

Nestlé officials claim that the recent investment in the O14C fund fully aligns with the company's sustainability goals, helping it advance green business efforts for the Nestlé Purina PetCare category of products, which will be developed with low-carbon ingredients.