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Oceans cover three-quarters of the globe, and a staggering 80% of all life on Earth is found hidden beneath their waves. They also represent an enormous economic opportunity, which is why the “blue economy” is driven by a combination of growing ocean-based industries and jobs as well as concerns about growing pressures on dwindling marine resources and response to climate change.
While traditional maritime industries such shipping, ports, offshore oil and gas, capture fisheries, maritime and coastal tourism continue to innovate, emerging ocean industries are gaining traction. These industries include offshore wind, tidal and wave energy, seabed mining, marine aquaculture and biotechnology.
However, the predicted growth of the blue economy must not come at the expense of marine ecosystems and biodiversity. As such, a dramatic shift is necessary in how the world develops the ocean’s potentials so as not to compromise the marine resource base on which they rely. A healthy ocean will have more than just economic benefits. It will improve health and well-being, and enhance the resilience of the planet to support a long-term future.
Created a Post in Blue Economy
Nancy Knowlton, a coral reef biologist at the Smithsonian National Museum of Natural History says, many marine conservation efforts around the globe are seeing good results.
“There are a lot of successes out there, and most people don’t know about them,” Knowlton says. It’s important to share those successes, she adds, to avoid paralyzing feelings of hopelessness and to spread the knowledge of approaches that work.
Read more for some glimpses of a few bright spots in the pitched battle for the blue planet.
"Some of the world’s largest companies have a direct stake in the viability of the ocean as a resource," says Katherine Garrett-Cox, CEO of GIB Asset Management, part of Gulf International Bank.
"The aggregate total debt outstanding of the ‘Ocean 100’ – the largest companies operating in the ocean industry – amounts to circa $1.8trn. In aggregate, 42% of these companies show improving ESG scores, suggesting a significant opportunity for refinancing through sustainability-linked debt, which can offer lower financing costs to borrowers that improve their sustainability scores over time. This has the potential to create a virtuous cycle of improvements."
Created a Post in Blue Economy, Natural Capital
Thriving mangroves are critical to the future of many of the world’s most vulnerable coastal communities. Rich in biodiversity, they serve as nursery grounds for fish and shellfish, while their roots act as a filter for sediment, cleaning up waterways. One of the planet’s most carbon-rich ecosystems, mangroves also provide natural protection from storm surges and flooding, whose severity is being exacerbated by climate change.
Created an Event in Blue Economy, Tourism and Hospitality
Created a Post in Blue Economy, Green Recovery from COVID-19, Industry and Entrepreneurship
What's the difference between Biodegradable and Compostable?
Created a Post in Blue Economy, Climate Change, Sustainable Finance
??? NEW ANALYSIS ON NORDIC COMPANIES' OCEAN DISCLOSURE ???
✍️ 73% of Nordic companies do not disclose on oceans ? Just 22% of current ocean disclosure is classified as 'good' ? Half of companies directly operating in the ocean economy are disclosing
How can the financial community assess ocean impacts and dependencies of investments if the #bluedata is not being made available by companies?
We recommend: ✅ Greater investor engagement on ocean disclosure ✅ Companies to adopt common ocean disclosure frameworks and develop science-based impact reduction strategies
Read more of our analysis, by researchers at Copenhagen Business School ?
Created a Post in Blue Economy, Cities and Urban Development, Water and Sanitation
Smart Water Technology Protecting the Great Barrier Reef Lagoon
With the onset of climate change, we are beginning to truly understand what makes our blue planet blue, and the important life-giving functions the ocean has to offer for our very existence. Did you know that our ocean provides more than 60 percent of the oxygen needed for planet earth’s survival?
The ocean is as important to our Blue Planet as oxygenated blood is to our bodies. Every second breath a human takes on earth no matter where they live, comes from our ocean. Simply put: no ocean, no air; no air, no life. And right now, our ocean is telling us, I can’t breathe.
Created a Post in Blue Economy, Climate Change
In recent months, the global 30x30 campaign to protect 30% of the ocean by 2030 has gained tremendous support, with a number of countries pledging to fulfill this goal. What hasn’t been clear, however, is whether these countries are fully prepared to ensure the target is met in ocean areas beyond national jurisdictions, also known as the high seas.
However, due to the unique governance structure of the Southern Ocean that surrounds the Antarctic continent, there are already ambitious proposals for significant high seas marine protected areas (MPAs). If adopted, these MPAs would collectively protect almost 4 million square kilometers of ocean, including habitat for large numbers of penguins, whales, seals and other unique Antarctic species. This would be the largest act of ocean protection in history.
Created an Event in Energy, Blue Economy, Tourism and Hospitality