Urgent change is required in the governance of ocean spaces to contend with the increasing presence and impact of human activities, the solution to which is often labelled a ‘transformation.’ While diverse interpretations of this concept exist across academic disciplines, a grounded exploration of the subject with those involved in ocean governance has not been undertaken and is a critical gap in the practical implementation of the concept. Leverage points have been not only identified as a mechanism for change, but also face similar research challenges. Therefore, this research aimed to identify, through 24 expert and practitioner interviews, what exactly transformation means in the context of ocean governance, and how it can be achieved through a leverage points approach. While reactions to and perceptions of the concept were mixed, several definitions of transformation were identified, ultimately hinging on incremental and radical change to define character. A multi-intervention ‘puzzle’ style of leverage points is advocated for. Therefore, ocean governance transformation is proposed to be achieved through a model that recognises the utility and benefits of both radical and incremental change and employs a multi-leverage approach, using interventions at varying depths across the system.

The Seychelles blue bond is an innovative finance mechanism that has played a pivotal role in shaping the global landscape of blue bonds. Seychelles leadership in the blue economy sets a significant precedent. However, this precedent has also raised concerns among various stakeholders. This study evaluates of Seychelles’ sovereign blue bond, which was co-developed by the government of Seychelles and the World Bank. Three themes are explored, how the blue bond relates to other actors and donors in the blue economy space of Seychelles; how the blue bond contributes to advancing the national agenda and blue economy of Seychelles; and the key strengths, enablers and weaknesses of the blue bond. A series of considerations for future blue financing and blue bond mechanisms are presented, based on the findings of this study, to ensure that financing extends beyond blue washing and contributes meaningfully to the holistic transition to a sustainable blue economy. Our findings imply significant considerations for stakeholders in sustainable finance, suggesting ways to enhance the efficacy of blue bonds and emphasising the need for further research on their long-term impact and integration with other financial instruments.

Transformation is idealised as a solution to multiple ocean crises, and the blue economy has emerged as a paradigm to facilitate transformation towards a sustainable ocean future. Conceptualisations of transformation differ and processes of change to achieve transformation remain under-explored in literature, representing a significant gap in understanding how transformation is achieved. By exploring the process of blue economy governance transformations in Seychelles and Bangladesh, key attributes of transformation as a process are identified and contextualised. Connectivity of events and actions that addressed a range of different depths and parts of the governance system were identified as enablers of progress towards the blue economy. Strong, centralised leadership was identified as important at an early stage of change, but this must evolve to a distributed form of leadership to continue direction and flexibility. The role and importance of external agencies in creating and catalysing change is complex, presenting challenges to sovereignty but also acts as an independent driver of movement. From a national government perspective, the need to be ‘constantly seen as doing something’ hinders deeper changes and interventions, and instead promotes more superficial outcomes. These results demonstrate the challenges in creating transformative change, and suggest a need to explore evolutionary processes of change over time.

Transformation as a concept is positioned as a solution to diverse societal and planetary crises; however, increasing diversity in the demands for transformation have led to different interpretations of how transformation should be achieved in practice. This article explores the results of a three-year mixed-methods study, which included a literature review, semi-structured expert and practitioner interviews, and two case studies of transformation in motion. Using inductive analytical processes, two distinct and often conflicting interpretations of transformation emerged, which this article positions as a typology of transformation to visually understand and delineate between interpretations of transformation. Bridging these polarised interpretations is challenging, although a significant portion of the interviewees identified the need for both understandings to be used in practice. It is argued that the lack of visibility regarding these different interpretations of transformation is a major barrier to implementing change in practice; without being clear of what personal definitions of transformation are at play, it is challenging to chart a path forward to create change. Being explicit regarding which interpretations of transformation are at play in varying demands for change will enable more efficient and effective communication, although significant research is needed to bridge these understandings.