What is Sustainable Blue Economy ?
” Gunter Pauli coined Blue Economy ” to describe his business model of shifting society from a condition of scarcity to one of abundance based on locally available resources. Over time, this term has become widely used, with the idea that sea resources for sustainable economic development are a crucial element of a healthy planet. Here are the dimensions and goals of this new economic model. Let’s dive into them one by one.
Outlines four Dimensions of the Blue Economy
This report outlines four dimensions of the Blue Economy and identifies gaps for further inquiry. It identifies the key stakeholders, defines the scope and boundaries of the BE, and suggests areas for development. The report also identifies opportunities for the Blue Economy to achieve the UN SDGs.
Maxwell Waitt mentioned that the goals of the blue economy are not only to achieve economic development but to promote social inclusion, improved livelihoods, and environmental sustainability. Specifically, this framework aims to contribute to economic development within the maritime domain, a natural system with specific properties and constraints. Developed as a global, sustainable framework, the Blue Economy Sustainability Framework includes examples from different ecosystems and cultures. However, despite the importance of sustainability, the Blue Economic Sustainability Framework does not challenge the current sustainable development paradigm or the dominant discourse on development.
Blue Economy Goals
The Sustainable Blue Economic aims to promote economic growth, protect ocean resources, and develop coastal resilience while addressing social equity and well-being. According to the United Nations Sustainable Development Goal 5, the blue economy contributes $1.5 trillion to global GDP annually. In addition, it is estimated that the total value of all assets found in the oceans is $24 trillion. These goals are the starting point for a blue economy that is sustainable and inclusive. But how do we get there?
The key to achieving sustainable blue economy goals is establishing a robust framework for assessing progress. The Sustainable Development Goals, for instance, include eradicating poverty, ensuring gender equality, and decent work. Goal 14 focuses on oceans. The IIED is committed to making progress on these themes and pushes governments to implement solutions.
Natural Resources & Blue Economic Growth
This study aims to define the enabling conditions of the blue economy. It identifies key factors affecting the establishment of the blue economy, including environmental sustainability, social equity, and resource availability. Measures for a sustainable blue economy should be aligned with the objectives of the national development plans. In addition, it is essential to distinguish between risks and constraints that require shorter-term or smaller-scale actions. The study also identifies enabling conditions for establishing a blue economy, including the availability of natural resources and economic growth.
Indicators related to capacity, enabling conditions, and resources are available across regions. These are primarily determined by resource availability, human rights, and national stability data. However, there are also differences between provinces and territories within each region. Therefore, the corresponding indicators must consider the global distribution of these factors to identify enabling conditions for a sustainable blue economy. For example, the proportion of high seas areas prone to sea level pollution is the lowest for the Pacific Ocean. In contrast, the highest proportion of countries in the Western Pacific can develop the blue economy sustainably.
Universal Pathway for Blue Economy Capacity
Governments and organizations must address enabling conditions to achieve the desired blue economy capacity. These conditions include social, gender, and group equity, resource availability, and infrastructure. In a global context, enabling conditions are defined as the conditions that promote the growth of blue economy capacity. The report highlights key factors that should be addressed to create enabling conditions. However, the study does not prescribe a universal pathway for blue economy capacity.
Africa, a continent with 38 of 54 countries, is incredibly reliant on the ocean. About 90 percent of African imports and exports take place by the sea. The policy handbook advocates for sustainable management and conservation of ocean resources and discusses threats to the ocean’s biodiversity and ecosystems. It also offers case studies of successful blue economy development in Africa. The handbook also includes a step-by-step guide for developing a Blue Economy policy, including agenda-setting, coordination, building national ownership, sector prioritization, policy design, implementation, monitoring, and evaluation.