The scheme, which has been running for a year, involves selling off sponsorship of the ocean surrounding the island to individuals or companies for NZ$250 (116) a square kilometre. So far, it has raised NZ$7m, nearly halfway to its target.
The idea is that this sponsorship will help to fund management of the ocean, including dealing with maritime security, bolstering climate resilience and conserving marine life in the island's Moana Mahu marine protected area (MPA).
It comes at a time when Pacific islands on the frontline of the climate crisis are struggling to deal with the impact and cost of rising sea levels. Ocean conservation is part of Niueans' DNA, says Niue's prime minister, Dalton Tagelagi.
What we enjoy today is what we inherited from the past, and we are going to make sure that continues, said Tagelagi, emphasizing the historical connection to land and sea.
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