Blue economy

In economics, blue economy is the exploitation, preservation and regeneration of the marine environment. It is related to green economy, which focuses mostly on the sustainability of land-based activities. It overlaps with the ocean economy[1], except for the focus on sustainability.[2]

The interpretations of what constitutes the blue economy varies among organizations. However, the term is generally used in the scope of international development when describing a sustainable development approach to coastal resources and ocean development. This can include a wide range of economic sectors, from the more conventional fisheries, aquaculture, maritime transport, coastal, marine and maritime tourism,[3] or other traditional uses, to more emergent activities such as coastal renewable energy, marine ecosystem services (i.e. blue carbon), seabed mining, and bioprospecting.

Similarly to greenwashing, the term bluewashing has been proposed to describe false or misleading claims regarding an action's environmental impact on the marine environment.

Definitions

According to the World Bank,[4] the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.

European Commission defines it as "All economic activities related to oceans, seas and coasts. It covers a wide range of interlinked established and emerging sectors."[5]

The Commonwealth of Nations considers it "an emerging concept which encourages better stewardship of our ocean or 'blue' resources."[6]

Conservation International adds that "blue economy also includes economic benefits that may not be marketed, such as carbon storage, coastal protection, cultural values and biodiversity."[7]

The Center for the Blue Economy says "it is now a widely used term around the world with three related but distinct meanings- the overall contribution of the oceans to economies, the need to address the environmental and ecological sustainability of the oceans, and the ocean economy as a growth opportunity for both developed and developing countries."[8]

A United Nations representative recently defined the Blue Economy as an economy that "comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable. An important challenge of the blue economy is to understand and better manage the many aspects of oceanic sustainability, ranging from sustainable fisheries to ecosystem health to preventing pollution. Secondly, the blue economy highlights the need for sustainable management of ocean resources through unprecedented levels of cross-border and cross-sector collaboration, involving diverse partnerships. This is a tall order, particularly for Small Island Developing States (SIDS) and Least Developed Countries (LDCs) who face significant limitations." The UN notes that the Blue Economy will aid in achieving the UN Sustainable Development Goals, of which one goal, 14, is "life below water". [9]

World Wildlife Fund begins its report[10] Principles for a Sustainable BLUE ECONOMY with two senses given to this term: "For some, blue economy means the use of the sea and its resources for sustainable economic development. For others, it simply refers to any economic activity in the maritime sector, whether sustainable or not."

As the WWF reveals in its purpose of the report, there is still no widely accepted definition of the term blue economy despite increasing high-level adoption of it as a concept and as a goal of policy-making and investment.[10]

According to the Organisation for Economic Co-operation and Development (OECD), the blue economy, which includes all industries with a direct or indirect connection to the ocean, such as marine energy, ports, shipping, coastal protection, and seafood production, could outperform global economic growth by 2030.[11][12][13]

Researchers have proposed various methodologies to estimate the contribution of the blue economy to GDP and the labor market at a regional level.[14]

Ocean economy

A related term of blue economy is ocean economy and some organizations use the two terms interchangeably. However, these two terms represent different concepts. Ocean economy simply deals with the use of ocean resources and is strictly aimed at empowering the economic system of ocean. Blue economy goes beyond viewing the ocean economy solely as a mechanism for economic growth.[6] It focuses on the sustainability of ocean for economic growth. Therefore, blue economy encompasses ecological aspects of the ocean along with economic aspects.

Green economy

The green economy is defined as an economy that aims at reducing environmental risks, and that aims for sustainable development without degrading the environment. It is closely related with ecological economics. Therefore, blue economy is a part of green economy. During Rio+20 Summit in June 2012, Pacific small island developing states stated that, for them, "a green economy was in fact a blue economy".[15]

Blue growth

A related term is blue growth, which means "support to the growth of the maritime sector in a sustainable way."[16] The term is adopted by the European Union as an integrated maritime policy to achieve the goals of the Europe 2020 strategy.[17]

Blue justice

This section is an excerpt from Blue justice.[edit]

Blue Justice is a critical approach examining how coastal communities and small-scale fisheries are affected by blue economy and "blue growth" initiatives undertaken by institutions and governments globally to promote sustainable ocean development. The blue economy is also rooted in the green economy and the UN Sustainable Development Goals.[18] Blue Justice acknowledges the historical rights of small-scale fishing communities to marine and inland resources and coastal space; in some cases, communities have used these resources for thousands of years. Thus, as a concept, it seeks to investigate pressures on small-scale fisheries from other ocean uses promoted in blue economy and blue growth agendas, including industrial fisheries, coastal and marine tourism, aquaculture, and energy production, and how they may compromise the rights and the well-being of small-scale fisheries and their communities.

Potential

On top of the traditional ocean activities such as fisheries, tourism and maritime transport, blue economy entails emerging industries including renewable energy, aquaculture, seabed extractive activities and marine biotechnology and bioprospecting.[19] Blue economy also attempts to embrace ocean ecosystem services that are not captured by the market but provide significant contribution to economic and human activity. They include carbon sequestration, coastal protection, waste disposal, and the existence of biodiversity.[19]

The 2015 WWF briefing puts the value of key ocean assets over US$24 trillion.[15] Fisheries are now overexploited, but there is still plenty of room for aquaculture and offshore wind power.[20] Aquaculture is the fastest growing food sector with the supply of 58 percent of fish to global markets.[19] Aquaculture is vital to food security of the poorest countries especially. Only in the European Union the blue economy employed 3,362,510 people in 2014.[16]

Challenges

The World Bank specifies three challenges that limit the potential to develop a blue economy.[19]

  1. Current economic trends that have been rapidly degrading ocean resources.
  2. The lack of investment in human capital for employment and development in innovative blue economy sectors.
  3. Inadequate care for marine resources and ecosystem services of the oceans.

Sectors

History

In November 2018, a conference in Kenya was held to discuss a sustainable future for the world's oceans. [22]

See also

References

  1. ^ OECD (2016), The Ocean Economy in 2030, OECD Publishing, Paris, https://doi.org/10.1787/9789264251724-en.
  2. ^ "Grantham Research Institute on climate change and the environment". Grantham Research Institute on climate change and the environment. December 11, 2024. Retrieved February 28, 2026.
  3. ^ a b Sharafuddin, Mohammed Ali; Madhavan, Meena (2020). "Thematic Evolution of Blue Tourism: A Scientometric Analysis and Systematic Review". Global Business Review. 25 (2): 533–554. doi:10.1177/0972150920966885. ISSN 0972-1509. S2CID 228811331.
  4. ^ "What is the Blue Economy?". THE WORLD BANK. June 6, 2017. Retrieved May 14, 2018.
  5. ^ "The 2018 Annual Economic Report on EU Blue Economy". European Union: 5. 2018. ISBN 978-92-79-81757-1.
  6. ^ a b "Blue economy | The Commonwealth". thecommonwealth.org. March 21, 2018. Archived from the original on October 19, 2018. Retrieved October 11, 2018.
  7. ^ Bertazzo, Sophie (March 7, 2018). "What on Earth is the 'blue economy'? – Human Nature – Conservation..." Human Nature – Conservation International Blog. Retrieved October 11, 2018.
  8. ^ "Our History and Methodology". Middlebury Institute of International Studies at Monterey. Retrieved October 11, 2018.
  9. ^ Cormier, R.; Elliott, M. (2017). "SMART Marine Goals, Targets and Management – Is SDG 14 Operational or Aspirational, Is 'Life Below Water' Sinking or Swimming?". Marine Pollution Bulletin. 123 (1–2): 28–33.
  10. ^ a b Principles for a Sustainable BLUE ECONOMY (PDF). World Wildlife Fund. p. 2. Retrieved May 14, 2018.
  11. ^ "The EU Blue economy report 2023" (PDF). European Commission Directorate General for Maritime Affairs and Fisheries.
  12. ^ Bank, European Investment (August 17, 2023). Clean oceans and the blue economy Overview 2023. European Investment Bank. ISBN 978-92-861-5518-5.
  13. ^ "The Ocean Economy in 2030". OECD.org. Retrieved August 24, 2023.
  14. ^ Haddad, Eduardo; Araújo, Inácio (2025). "Shades of blue: the regional structure of the ocean economy in Brazil". npj Ocean Sustainability. 4 (15). doi:10.1038/s44183-025-00112-x.
  15. ^ a b "What a 'blue economy' really is – WWF's perspective". WWF. July 10, 2015. Retrieved May 14, 2018.
  16. ^ a b c "BLUE GROWTH". Mare. European Commission. 2014. Retrieved May 14, 2018.
  17. ^ Anonymous (September 28, 2016). "Blue growth – Maritime Affairs – European Commission". Maritime Affairs – European Commission. Retrieved October 11, 2018.
  18. ^ Isaacs, M. (23 July 2019). Blue Justice for small-scale fisheries. Retrieved 26 July 2019, from Plaas website: https://www.plaas.org.za/blue-justice-for-small-scale-fisheries/
  19. ^ a b c d "The Potential of the Blue Economy : Increasing Long-term Benefits of the Sustainable Use of Marine Resources for Small Island Developing States and Coastal Least Developed Countries" (PDF). World Bank: ix. 2017.
  20. ^ Wind EUROPE; BVGassociates (June 2017). Unleashing Europe's offshore wind potential (PDF). Brussels, Belgium. p. 16. Retrieved May 14, 2018.{{cite book}}: CS1 maint: location missing publisher (link)
  21. ^ Purcell, Nicolette (May 30, 2023). "What is the Blue Economy?". Blue Robotics. Retrieved January 12, 2024.
  22. ^ Nations, United. "Diving into the blue economy". United Nations. Retrieved March 23, 2024.
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