In this article, we will discuss Blue Economy. So, let’s get started.
- The concept was introduced by Gunter Pauli in his 2010 book- “The Blue Economy: 10 years, 100 innovations, 100 million jobs”.
- It is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health.
- It advocates the greening of ocean development strategies for higher productivity and conservation of ocean’s health.
- It encompasses–
- Renewable Energy: Sustainable marine energy can play a vital role in social and economic development.
- Fisheries: Sustainable fisheries can generate more revenue, more fish and help restore fish stocks.
- Maritime Transport: Over 80% of international goods traded are transported by sea.
- Tourism: Ocean and coastal tourism can bring jobs and economic growth.
- Climate Change: Oceans are an important carbon sink (blue carbon) and help mitigate climate change.
- Waste Management: Better waste management on land can help oceans recover.
- Blue Economy emphasizes on integration of development of ocean economy with social inclusion, environmental sustainability, combined with innovative business model.
- This is reflected in Sustainable Development Goal (SDG 14), which calls to conserve and sustainably use the oceans, seas and marine resources for sustainable development.