Blue Economy

In this article we will discuss Blue Economy

In this article, we will discuss Blue Economy. So, let’s get started.

Blue Economy

  • 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.

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