Celebrities such as Leonardo DiCaprio, The Rolling Stones and former US secretary of state John Kerry have already taken the pledge.
Action can be taken against those who break the conditions, with fines of up to $US1 million ($1.4 million) for offences committed.
Palau has a long history of world-firsts in conservation. It was the first country to create a shark sanctuary in its national waters, it was the first to ban the destructive practice of bottom trawling, and in 2015, its leadership created the Palau National Marine Sanctuary, the largest fully-protected, no-take zone in the world.
Palau President Tommy E Remengesau Jr believes everybody holds responsibility for enacting change.
"Human impact on our earth's environment is one of the biggest challenges facing our world today," he said.
"As a small country we feel the impact of these actions acutely. We hope that the Palau Pledge raises global awareness of the responsibility that this generation has to the next."
- AAP