The "Our Oceans" summit was launched in 2014 as the first international event of its kind to address all issues related to oceans, with some 122.3 billion euros pledged since then to protect them.
This year's three-day conference began Monday with delegates from around 120 countries.
"We're heartened by the commitments that have been made during this gathering -- over 400 pledges exceeding $10 billion in value," Greek Prime Minister Kyriakos Mitsotakis said on Tuesday.
"Our ocean is literally sending us distress signals. Of course, long before we understood climate change, the ocean was already under attack from overexploitation and for pollution."
Last year's conference hosted in Panama saw participants pledge $19 billion toward projects addressing sustainable fishing, pollution, maritime security and protected areas.
The European Union also announced last year that it would devote 816.5 million euros to ocean-related projects.
"Concrete initiatives are urgently needed on all major issues such as climate change, marine protected areas, sustainable fisheries, sustainable blue economy, maritime safety and marine pollution," said Greek Foreign Minister George Gerapetritis in his speech on Tuesday.
This year's summit will highlight issues of sustainable tourism in coastal and island regions, green maritime transport, reducing plastics and microplastics, and the green transition of the Mediterranean, said Gerapetritis.
In Greece, 21 initiatives with a budget of 780 million euros are underway as part of a structured strategy for the protection of Greek marine biodiversity.
The government also last week announced the creation of two new national parks, one in the Ionian Sea for marine mammals and turtles, and another in the Aegean Sea for seabirds.
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