The first-ever "Our Ocean" Conference organised by the State Department resulted in commitments from government and private sources valued at more than USD 800 million to conserve the ocean and its resources for future generations, Secretary of State, John Kerry, said.
In addition, Norway announced it will allocate USD 1 billion to climate change mitigation and adaptation assistance.
Obama, through a video message announced that his administration will immediately begin planning to expand protections for ocean habitats and deter illegal fishing.
"We are potentially on the verge of protecting more than three million square kilometers of the Pacific Ocean. We need to do more elsewhere but that is a terrific start, and I congratulate everybody for their part in doing that," Kerry said in the closing remarks.
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The conference drew heads of state, foreign ministers, policy makers, environmentalists, scientists and entrepreneurs from nearly 90 countries including India to develop strategies for protecting oceans from marine pollution, acidification and overfishing.
Earlier in the day Obama announced establishment of a Presidential Task Force to deter illegal fishing and to protect oceans and marine resources.
Leonardo Wilhelm DiCaprio, American actor and film producer, said without healthy oceans the world is in serious trouble, and the outlook for their health is not good.
He rued that there was no proper law enforcement capacity and little accountability for violating the law.