May 7, 2021

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The Ocean Economy will eclipse $3 trillion by 2030

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Swift ZXi fixed to the soul of geopolitics petitions are in the worst condition that had been plastic pollution is coated on the ocean floor fishing industry Sa draining The Marine resources while creating two members waste in the process are oceans contain 99% of the living space on the planet and our atmosphere and the climate rely on them so we need to rethink the way we interact with the oceans and the blue economy provide a roadmap to synchronize Economic growth with sustainable Ecosystem was that I went with a horse stable and

Autonomous systems and nanotechnology we will be able to extract more resources from the oceans Honey Singh this Maritime potential will create jobs in tourism energy production aquaculture bioprospecting biotechnology and Simone weil in 2010 the Global Ocean economy was valued at 1.5 trillion dollars by 2030 it will surpass free trillion dollars that is what is the oceans are vital for life on earth they are not limitless increase human activity in the oceans will inevitably affect the environment and oceans that are not healthy will not be able to support economic growth so if the condition that an Ocean economy is not regulated correctly we was running out of marine resources in the future and now doing so we risk economic power T what more is that in the coming decades we will see increasing challenges to the sustainable use of marine resources because hazards such as climate change rising sea levels increased frequency of extreme weather patterns and rising temperatures and related structures are going to be affected either directly or indirectly and these include fisheries and aquaculture tourism but also Marine infrastructure which will carry far-reaching consequences for international shipping for the changing oceans will affect nearly all Nations small and big that’s why November 2018

Political leaders and scientists across the globe gathered in Nairobi during the first conference on the blue economy the set out the principles for the future of the ocean economy two points can be taken from this conference firstly the only way to ensure a prosperous Ocean economy is by promoting sustainability in addition to economic growth International platforms must be set up and mechanism must be developed to conserve and protect the ocean resources and Marine ecosystems at the same time the regulations must be strengthened and new versions on science and technology must be created by Sakri to maintain a prosperous Ocean economy ecosystem must remain healthy the second point of the blue economy is that the sustainable management of ocean resources and collaboration across Nations as well as public and private sectors on a scale that has not previously been achieved since about 3 billion people around the world depend on Marine biodiversity for the likelihood the only way to ensure its sustainable Ocean economy is by reaching an international consensus at is called the blue economy

6 to establish an international platform with Cooperative James protect the environment so that you should remain a source of food jobs and stability for future generations now technically the blue economy holds the same principles and goals as the green economy which 6 to reduce environmental risk it recommendable plan but in practice the green economy remains wildly wasteful because many of the industries are well entrenched in their way of doing business it’s difficult to implement and enforce Revolutionary change across Nations and the cross public and private sectors the blue economy however provides a new kind of economy that can be appropriately designed from the ground up

Currently, the ocean economy employs about 1% of the Global workforce and contributes about 2.5 % of the gross value added to the global economy in the coming decades these numbers will continue to grow which means the ocean economy is still in its cradle so while introducing sustainability in existing Industries is difficult it is much easier to introduce such policies in an economy that is just in its beginnings for every Nation the blue economy formula is likely to be different depending on national circumstances Maritime zones existing economic activities and issues related to social and cultural norms notion economy is widely different from Bangladesh a low-income country where local communities rely on the ocean for their day-to-day sustenance but the mention the specific needs of Small Island nations which of the latter capacities to efficiently exclude the disproportionately large exclusive economic zones which country will do need to draught its vision for sustainable

Ocean economy but in each case the policy has to be more carbon efficient and clean this is not easy but having International frameworks and guidelines that allow for the sharing of best practices and expertise across Nations only makes performs more accessible for smaller and underdeveloped Nations data generation and data sharing using advanced AI and big data mining is there for a big part of the blue economy have a look at this map shows the collective human impact on Marine ecosystems the data was collected over five years nearly 66% of the oceans and 77% of national jurisdictions show increase human activity some places are more effective than others America’s East Coast is inverse condition than the West Coast and sometimes the affected areas of spread along the artificial borders of the Exclusive economic zones for planning and swelling cause exclusive Economic Zone has made its waters Pharma polluted then in the Maldives Meanwhile the waters of the federated states of micronesia are some of the least affected thanks to strict localised environmental policies however immediately beyond their exclusive Economic Zone the pollution kicks in this form of logical policymaking make work on paper but in practice the ocean nsar fluid method ecosystems meaning any effects on one ecosystem skate into water equal systems across the oceans so40 sustainable Ocean economy their needs to be an international consensus individual or a local policies

For the petroleum community so if you want to explore this durable consider joining to contextualize the trials that lie ahead take for instance the following the fishing industry employs over 350 million jobs worldwide while a third of crude oil production comes from offshore fields and aquaculture is the fastest-growing food sector is three industries of conflicting interests but the dogma of the global economy is the balance the interest in a manner that allows sustainable and acts vegetable grow there are many aspects of the blue economy but a series of challenges also limits the concept for much of human history aquatic ecosystems have been treated as limitless resources and largely freak repositories of waste the role Bank identified three challenges that restrict the development of the economy the first is The Economic Strength that Republic De Grace Ocean resources such as overfishing pollution and fair trade physical destruction at 17

2nd I lack investment in human capital without further funding employment and development in innovative sectors will remain stagnant which will delay further technological breakthroughs necessary for a fluid economy the final risk is the inadequate care for Marine Resources and Ecosystem Services of the oceans this is the result of pearly regulated activities that stem from in effect of Institutions and insufficient economic incentives only by addressing these risks can Nations Around The World truly tap into the economic wealth of by the oceans and Prathna set a better than French Explorer and filmmaker Chaku store for most of the history man has had the flight nature to survive in this entry he is beginning to realize that in order to survive him.

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