Thursday, April 25, 2024

Marine-Based ‘Blue Economies’ Offer Massive Potential

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Story by Thomson Reuters

Developing ocean-based resources in areas such as fisheries, aquaculture, coastal tourism, transport and ports, mining and energy, could generate U.S. $20.8 billion a year for the 220 million people of the western Indian Ocean region, according to a recent report. But coastal and marine ecosystems will have to be preserved, and the adverse effects of climate change combatted if this potential is to be realized.

Since the launch of the United Nations Agenda 2030 Sustainable Development Goals, specifically Goal 14 on the conservation and sustainable use of the marine environment, the oceans have become a key priority of many high-level discussions.

For example, Kenya’s Blue Economy Conference, hosted in November last year, served as a catalyst for international, regional and local cooperation on the sustainable development of the region’s oceans. At this event, participants discussed how best to make use of marine resources to improve human wellbeing and social equity, while maintaining and conserving healthy ecosystems.

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