Blue economy

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The maritime transport is a part of the blue economy. Teo IMO 8919104, Meadway Shipping & Trading.jpg
The maritime transport is a part of the blue economy.

Blue economy is a term in economics relating to the exploitation, preservation and regeneration of the marine environment. Its scope of interpretation varies among organizations. However, the term is generally used in the scope of international development when describing a sustainable development approach to coastal resources. This can include a wide range of economic sectors, from the more conventional fisheries, aquaculture, maritime transport, coastal, marine and maritime tourism, [1] or other traditional uses, to more emergent activities such as coastal renewable energy, marine ecosystem services (i.e. blue carbon), seabed mining, and bioprospecting.

Contents

History

In November 2018, a conference in Kenya was held to discuss a sustainable future for the world's oceans. [2]

Definitions

According to the World Bank, [3] the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem."

European Commission defines it as "All economic activities related to oceans, seas and coasts. It covers a wide range of interlinked established and emerging sectors." [4]

The Commonwealth of Nations considers it "an emerging concept which encourages better stewardship of our ocean or 'blue' resources." [5]

Conservation International adds that "blue economy also includes economic benefits that may not be marketed, such as carbon storage, coastal protection, cultural values and biodiversity." [6]

The Center for the Blue Economy says "it is now a widely used term around the world with three related but distinct meanings- the overall contribution of the oceans to economies, the need to address the environmental and ecological sustainability of the oceans, and the ocean economy as a growth opportunity for both developed and developing countries." [7]

A United Nations representative recently defined the Blue Economy as an economy that "comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable. An important challenge of the blue economy is to understand and better manage the many aspects of oceanic sustainability, ranging from sustainable fisheries to ecosystem health to preventing pollution. Secondly, the blue economy challenges us to realize that the sustainable management of ocean resources will require collaboration across borders and sectors through a variety of partnerships, and on a scale that has not been previously achieved. This is a tall order, particularly for Small Island Developing States (SIDS) and Least Developed Countries (LDCs) who face significant limitations." The UN notes that the Blue Economy will aid in achieving the UN Sustainable Development Goals, of which one goal, 14, is "life below water".

World Wildlife Fund begins its report [8] Principles for a Sustainable BLUE ECONOMY with two senses given to this term: "For some, blue economy means the use of the sea and its resources for sustainable economic development. For others, it simply refers to any economic activity in the maritime sector, whether sustainable or not."

As the WWF reveals in its purpose of the report, there is still no widely accepted definition of the term blue economy despite increasing high-level adoption of it as a concept and as a goal of policy-making and investment. [8]

According to the Organisation for Economic Co-operation and Development (OECD), the blue economy, which includes all industries with a direct or indirect connection to the ocean, such as marine energy, ports, shipping, coastal protection, and seafood production, could outperform global economic growth by 2030. [9] [10] [11]

Blue Technology

low-cost ROV ROV with electric thrusters.jpg
low-cost ROV

Blue Technology refers to the application of innovative and sustainable practices that aid to a healthier water economy. It's used in nearly every sector to advance or improve existing practices. [12] Examples include ROVs that can monitor fish farms, robotics that can assist in the effort to regenerate corals, [13] or vehicles built to remove trash from waterways. [14]

Ocean economy

A related term of blue economy is ocean economy and we see some organizations using the two terms interchangeably. [15] However, these two terms represent different concepts. Ocean economy simply deals with the use of ocean resources and is strictly aimed at empowering the economic system of ocean. [16] Blue economy goes beyond viewing the ocean economy solely as a mechanism for economic growth. [5] It focuses on the sustainability of ocean for economic growth. Therefore, blue economy encompasses ecological aspects of the ocean along with economic aspects.

Green economy

The green economy is defined as an economy that aims at reducing environmental risks, and that aims for sustainable development without degrading the environment. It is closely related with ecological economics. Therefore, blue economy is a part of green economy. During Rio+20 Summit in June 2012, Pacific small island developing states stated that, for them, "a green economy was in fact a blue economy". [17]

Blue growth

A related term is blue growth, which means "support to the growth of the maritime sector in a sustainable way." [18] The term is adopted by the European Union as an integrated maritime policy to achieve the goals of the Europe 2020 strategy. [19]

Blue justice

This section is an excerpt from Blue justice.[ edit ]
Blue Justice is a critical approach examining how coastal communities and small-scale fisheries are affected by blue economy and "blue growth" initiatives undertaken by institutions and governments globally to promote sustainable ocean development. The blue economy is also rooted in the green economy and the UN Sustainable Development Goals. [20] Blue Justice acknowledges the historical rights of small-scale fishing communities to marine and inland resources and coastal space; in some cases, communities have used these resources for thousands of years. Thus, as a concept, it seeks to investigate pressures on small-scale fisheries from other ocean uses promoted in blue economy and blue growth agendas, including industrial fisheries, coastal and marine tourism, aquaculture, and energy production, and how they may compromise the rights and the well-being of small-scale fisheries and their communities.

Potential

On top of the traditional ocean activities such as fisheries, tourism and maritime transport, blue economy entails emerging industries including renewable energy, aquaculture, seabed extractive activities and marine biotechnology and bioprospecting. [21] Blue economy also attempts to embrace ocean ecosystem services that are not captured by the market but provide significant contribution to economic and human activity. They include carbon sequestration, coastal protection, waste disposal, and the existence of biodiversity. [21]

The 2015 WWF briefing puts the value of key ocean assets over US$24 trillion. [17] Fisheries are now overexploited, but there is still plenty of room for aquaculture and offshore wind power. [22] Aquaculture is the fastest growing food sector with the supply of 58 percent of fish to global markets. [21] Aquaculture is vital to food security of the poorest countries especially. Only in the European Union the blue economy employed 3,362,510 people in 2014. [18]

Issues

The World Bank specifies three challenges that limit the potential to develop a blue economy. [21]

  1. Current economic trends that have been rapidly degrading ocean resources.
  2. The lack of investment in human capital for employment and development in innovative blue economy sectors.
  3. Inadequate care for marine resources and ecosystem services of the oceans.

Sectors

See also

Related Research Articles

<span class="mw-page-title-main">Aquaculture</span> Farming of aquatic organisms

Aquaculture, also known as aquafarming, is the controlled cultivation ("farming") of aquatic organisms such as fish, crustaceans, mollusks, algae and other organisms of value such as aquatic plants. Aquaculture involves cultivating freshwater, brackish water and saltwater populations under controlled or semi-natural conditions, and can be contrasted with commercial fishing, which is the harvesting of wild fish. Aquaculture is also a practice used for restoring and rehabilitating marine and freshwater ecosystems. Mariculture, commonly known as marine farming, is aquaculture in seawater habitats and lagoons, as opposed to freshwater aquaculture. Pisciculture is a type of aquaculture that consists of fish farming to obtain fish products as food.

<span class="mw-page-title-main">Fishery</span> Raising or harvesting fish

Fishery can mean either the enterprise of raising or harvesting fish and other aquatic life or, more commonly, the site where such enterprise takes place. Commercial fisheries include wild fisheries and fish farms, both in freshwater waterbodies and the oceans. About 500 million people worldwide are economically dependent on fisheries. 171 million tonnes of fish were produced in 2016, but overfishing is an increasing problem, causing declines in some populations.

<span class="mw-page-title-main">Sustainable fishery</span> Sustainable fishing for the long term fishing

A conventional idea of a sustainable fishery is that it is one that is harvested at a sustainable rate, where the fish population does not decline over time because of fishing practices. Sustainability in fisheries combines theoretical disciplines, such as the population dynamics of fisheries, with practical strategies, such as avoiding overfishing through techniques such as individual fishing quotas, curtailing destructive and illegal fishing practices by lobbying for appropriate law and policy, setting up protected areas, restoring collapsed fisheries, incorporating all externalities involved in harvesting marine ecosystems into fishery economics, educating stakeholders and the wider public, and developing independent certification programs.

<span class="mw-page-title-main">Fishing industry</span> Economic branch

The fishing industry includes any industry or activity that takes, cultures, processes, preserves, stores, transports, markets or sells fish or fish products. It is defined by the Food and Agriculture Organization as including recreational, subsistence and commercial fishing, as well as the related harvesting, processing, and marketing sectors. The commercial activity is aimed at the delivery of fish and other seafood products for human consumption or as input factors in other industrial processes. The livelihood of over 500 million people in developing countries depends directly or indirectly on fisheries and aquaculture.

<span class="mw-page-title-main">Fisheries management</span> Regulation of fishing

The goal of fisheries management is to produce sustainable biological, environmental and socioeconomic benefits from renewable aquatic resources. Wild fisheries are classified as renewable when the organisms of interest produce an annual biological surplus that with judicious management can be harvested without reducing future productivity. Fishery management employs activities that protect fishery resources so sustainable exploitation is possible, drawing on fisheries science and possibly including the precautionary principle.

<span class="mw-page-title-main">Indian Ocean Rim Association</span> International organization

The Indian Ocean Rim Association (IORA), formerly known as the Indian Ocean Rim Initiative (IORI) and the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC), is an international organisation consisting of 23 states bordering the Indian Ocean. The IORA is a regional forum, tripartite in nature, bringing together representatives of Government, Business and Academia, for promoting co-operation and closer interaction among them. It is based on the principles of for strengthening Economic Cooperation particularly on Trade Facilitation and Investment, Promotion as well as Social Development of the region. The Coordinating Secretariat of IORA is located at Ebene, Mauritius.

The Committee on Fisheries (PECH) is a committee of the European Parliament.

<span class="mw-page-title-main">Small Island Developing States</span> Developing countries that are small island countries

The Small Island Developing States (SIDS) are a grouping of developing countries which are small island countries and tend to share similar sustainable development challenges. These include small but growing populations, limited resources, remoteness, susceptibility to natural disasters, vulnerability to external shocks, excessive dependence on international trade, and fragile environments. Their growth and development are also held back by high communication, energy and transportation costs, irregular international transport volumes, disproportionately expensive public administration and infrastructure due to their small size, and little to no opportunity to create economies of scale. They consist of some of the most vulnerable countries to anthropogenic climate change.

<span class="mw-page-title-main">Central Marine Fisheries Research Institute</span> Research institute in India

The Central Marine Fisheries Research Institute was established in the government of India on 3 February 1947 under the Ministry of Agriculture and Farmers Welfare and later, in 1967, it joined the Indian Council of Agricultural Research (ICAR) family and emerged as a leading tropical marine fisheries research institute in the world. The Headquarters of the ICAR-CMFRI is located in Kochi, Kerala. Initially the institute focused its research efforts on creating a strong database on marine fisheries sector by developing scientific methodologies for estimating the marine fish landings and effort inputs, taxonomy of marine organisms and the biological aspects of the exploited stocks of finfish and shellfish on which fisheries management were to be based. This focus contributed significantly to development of the marine fisheries sector from a predominantly artisanal, sustenance fishery till the early sixties to that of a complex, multi-gear, multi-species fisheries.

<span class="mw-page-title-main">Fishing industry in Chile</span>

Fishing in Chile is a major industry with a total catch of 4,442,877 tons of fish in 2006. As of 2010, Chile has the seventh largest commercial catch in the world. With over 4,000 km of viable coastline, fishing has been a vital resource for small-scale business and family development for hundreds of years. Due to the Humboldt Current, the Chilean Sea is considered among the most productive marine ecosystems in the world as well as the largest upwelling system. Artisanal fishing is practised all over Chile's 6,435 km long coastline and combines industrial techniques with pre-Hispanic traditions. Recreational fishing tourism in southern Chile's rivers has recently gained worldwide fame attracting actors such as Harrison Ford, Michael Douglas, and Kevin Costner.

Blue Ventures is a registered charity focused on nurturing locally led marine conservation. The organisation partners with coastal communities that depend on marine resources.

<span class="mw-page-title-main">Offshore aquaculture</span> Fish farms in waters some distance away from the coast

Offshore aquaculture, also known as open water aquaculture or open ocean aquaculture, is an emerging approach to mariculture where fish farms are positioned in deeper and less sheltered waters some distance away from the coast, where the cultivated fish stocks are exposed to more naturalistic living conditions with stronger ocean currents and more diverse nutrient flow. Existing "offshore" developments fall mainly into the category of exposed areas rather than fully offshore. As maritime classification society DNV GL has stated, development and knowledge-building are needed in several fields for the available deeper water opportunities to be realized.

The Waitt Institute is a non-profit that partners with committed governments and local communities to create and implement sustainable ocean plans to benefit people, the economy, and the environment.

The Benguela Current Commission, or BCC, is a multi-sectoral inter-governmental, initiative of Angola, Namibia and South Africa. It promotes the sustainable management and protection of the Benguela Current Large Marine Ecosystem, or BCLME. The BCC was established in January 2007 through the signing of an Interim Agreement between the governments of Angola, Namibia and South Africa. Then, on 18 March 2013, the three governments signed the Benguela Current Convention, an environmental treaty that entrenches the Benguela Current Commission as a permanent inter-governmental organization.

The Coral Triangle Initiative on Coral Reefs, Fisheries, and Food Security (CTI-CFF), or the Coral Triangle Initiative (CTI), is a multilateral collaborative partnership among six countries. Partners work together to sustain living marine and coastal resources by addressing crucial issues such as food security, climate change, and marine biodiversity.

Blue Justice is a critical approach examining how coastal communities and small-scale fisheries are affected by blue economy and "blue growth" initiatives undertaken by institutions and governments globally to promote sustainable ocean development. The blue economy is also rooted in the green economy and the UN Sustainable Development Goals. Blue Justice acknowledges the historical rights of small-scale fishing communities to marine and inland resources and coastal space; in some cases, communities have used these resources for thousands of years. Thus, as a concept, it seeks to investigate pressures on small-scale fisheries from other ocean uses promoted in blue economy and blue growth agendas, including industrial fisheries, coastal and marine tourism, aquaculture, and energy production, and how they may compromise the rights and the well-being of small-scale fisheries and their communities.

<span class="mw-page-title-main">Sustainable Development Goal 14</span> 14th of 17 Sustainable Development Goals to conserve life below water

Sustainable Development Goal 14 is about "Life below water" and is one of the 17 Sustainable Development Goals established by the United Nations in 2015. The official wording is to "Conserve and sustainably use the oceans, seas and marine resources for sustainable development". The Goal has ten targets to be achieved by 2030. Progress towards each target is being measured with one indicator each.

<span class="mw-page-title-main">Climate change in Fiji</span> Emissions, impacts and responses of Fiji related to climate change

Climate change in Fiji is an exceptionally pressing issue for the country - as an island nation, Fiji is particularly vulnerable to rising sea levels, coastal erosion and extreme weather. These changes, along with temperature rise, will displace Fijian communities and will prove disruptive to the national economy - tourism, agriculture and fisheries, the largest contributors to the nation's GDP, will be severely impacted by climate change causing increases in poverty and food insecurity. As a party to both the Kyoto Protocol and the Paris Climate Agreement, Fiji hopes to achieve net-zero emissions by 2050 which, along with national policies, will help to mitigate the impacts of climate change.

The European Maritime, Fisheries and Aquaculture Fund (EMFAF), one of the five European Structural and Investment Funds, is the financial instrument financing the structural policy pillar of the Common Fisheries Policy of the European Union. It was previously known as the Financial Instrument for Fisheries Guidance (FIFG), the European Fisheries Fund (EFF) and the European Maritime and Fisheries Fund (EMFF). The total budget for 2021-2027 is €6.108 billion.

Marine resources are resources that are found in oceans and are useful for humans. The term was popularized through Sustainable Development Goal 14 which is about "Life below water" and is one of the 17 Sustainable Development Goals established by the United Nations in 2015. The official wording of the goal is to "Conserve and sustainably use the oceans, seas and marine resources for sustainable development".

References

  1. 1 2 Sharafuddin, Mohammed Ali; Madhavan, Meena (2020). "Thematic Evolution of Blue Tourism: A Scientometric Analysis and Systematic Review". Global Business Review: 0972150920966885. doi:10.1177/0972150920966885. ISSN   0972-1509. S2CID   228811331.
  2. ↑ Nations, United. "Diving into the blue economy". United Nations. Retrieved 2024-03-23.
  3. ↑ "What is the Blue Economy?". THE WORLD BANK. 6 June 2017. Retrieved 14 May 2018.
  4. ↑ "The 2018 Annual Economic Report on EU Blue Economy". European Union: 5. 2018. ISBN   978-92-79-81757-1.
  5. 1 2 (http://www.hydrant.co.uk), Site designed and built by Hydrant (21 March 2018). "Blue economy | The Commonwealth". thecommonwealth.org. Archived from the original on 2018-10-19. Retrieved 2018-10-11.
  6. ↑ Bertazzo, Sophie (2018-03-07). "What on Earth is the 'blue economy'? – Human Nature – Conservation..." Human Nature – Conservation International Blog. Retrieved 2018-10-11.
  7. ↑ "Our History and Methodology". Middlebury Institute of International Studies at Monterey. Retrieved 2018-10-11.
  8. 1 2 Principles for a Sustainable BLUE ECONOMY (PDF). World Wildlife Fund. p. 2. Retrieved 14 May 2018.
  9. ↑ "The EU Blue economy report 2023" (PDF). European Commission Directorate General for Maritime Affairs and Fisheries.
  10. ↑ Bank, European Investment (2023-08-17). Clean oceans and the blue economy Overview 2023. European Investment Bank. ISBN   978-92-861-5518-5.
  11. ↑ "The Ocean Economy in 2030". OECD.org. Retrieved 24 August 2023.
  12. 1 2 Purcell, Nicolette (2023-05-30). "What is the Blue Economy?". Blue Robotics. Retrieved 2024-01-12.
  13. ↑ "The game-changing robotics helping to grow new corals". Great Barrier Reef Foundation. 2023-01-09. Retrieved 2024-01-12.
  14. ↑ "Robot shark fights pollution in Hudson River Park". ny1.com. Retrieved 2024-01-12.
  15. ↑ "Ocean Economy Takes Center Stage at Davos". Grit Daily News. 2019-02-09. Retrieved 2020-01-18.
  16. ↑ Examrace. "Blue Economy versus Ocean Economy- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi, Sindhi, Tamil, Telgu – Examrace". www.examrace.com. Retrieved 2018-10-11.
  17. 1 2 "What a 'blue economy' really is – WWF's perspective". WWF. 10 July 2015. Retrieved 14 May 2018.
  18. 1 2 3 "BLUE GROWTH". Mare. European Commission. 2014. Retrieved 14 May 2018.
  19. ↑ Anonymous (2016-09-28). "Blue growth – Maritime Affairs – European Commission". Maritime Affairs – European Commission. Retrieved 2018-10-11.
  20. ↑ Isaacs, M. (23 July 2019). Blue Justice for small-scale fisheries. Retrieved 26 July 2019, from Plaas website: https://www.plaas.org.za/blue-justice-for-small-scale-fisheries/
  21. 1 2 3 4 "The Potential of the Blue Economy : Increasing Long-term Benefits of the Sustainable Use of Marine Resources for Small Island Developing States and Coastal Least Developed Countries" (PDF). World Bank: ix. 2017.
  22. ↑ Wind EUROPE; BVGassociates (June 2017). Unleashing Europe's offshore wind potential (PDF). Brussels, Belgium. p. 16. Retrieved 14 May 2018.{{cite book}}: CS1 maint: location missing publisher (link)
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