Sustainable blue economy vital for small countries and coastal populations
With the livelihoods of about 40 per cent of the world's population living at or near a coast, it is important for strengthening sustainable ocean-based economies, managing coastal ecosystems.
The world's coastal populations contribute significantly to the global economy - an estimated $1.5 trillion per year - with expectations pointing to some $3 trillion by 2030.
Ensuring ocean ecosystem health, supporting livelihoods and driving economic growth requires targeted support for key sectors, including fisheries and aquaculture, tourism, energy, shipping and port activities, as well as innovative areas such as CO2 reduction by renewable energy, waste to energy, circular ship dismantling, water and clean air management, ocean & river cleaning technologies, and marine biotechnology.
Sustainable Blue Economies
For too long our oceans have been treated as an inexhaustible resource. But as with all resources, impeding to allow regeneration are signs of lack of appropriate planning and management, also indicates a failure to properly account for the economic and social value of the resource. Harvesting the capability of sustainable and inclusive growth are crucial elements to ensure economic and commercial activities related to the ocean, for the safeguard of the continuous flow of goods and services.
Blue economy is an important driver of prosperity and employment creation, especially in some developing and middle-income countries where this sector already represents an important share of the overall economy.