The economy of the future is sustainable and… blue
The value of the Earth’s oceans is estimated to be more than $24trn, while every year about $2.5trn worth of economic activity is generated by sectors linked to the blue economy, according to the World Wildlife Fund (WWF).
If the oceans were a country, they would form the seventh-largest economy in the world. The ONG Conservation International estimates the annual economic value produced by the ocean at $ 1,500 billion.
But what does the blue economy mean?
According to the World Bank, the Blue Economy is the “sustainable use of ocean resources, aimed at promoting economic growth and improving livelihoods and jobs, while preserving the health of ocean ecosystems”.
Some activities traditionally linked to ocean resources, in fact, have long threatened the natural balances, starting with the increasingly deep exploitation of offshore oil or gas, overfishing, mass tourism or intense maritime transport.
This theme meets specifically the 14 UN goal (“to preserve and use the oceans, seas and marine resources in a sustainable way for a sustainable development”).
This principle, therefore, is to stop the disorderly exploitation of maritime resources.
The blue economy, which involves many businesses and activities, such as: renewable energy, biotechnology, fisheries, aquaculture, tourism and maritime transport, is going to be a fertile ground for responsible investment in the next future.
In such a weak economic landscape, like this we’re living in, for the health crisis caused by the Covid-19, the WWF MedTrends report estimates that the opportunities offered by the blue economy, should continue to grow over the next 15 years.
Therefore, more and more investment solutions dedicated to this field are being developed, and even more companies are adopting ESG practices (ESG stands for Environmental, Social, and Governance), whose commitment should ensure long-term financial sustainability.
An example is the French group Engie, specialized in the energy and ocean resources sector, which has decided to develop a pilot project of a floating wind farm in France, off the coast of Leucate, to provide green electricity to nearly 50,000 people a year, with the aim of a complete energy transition of the French region within 2022.
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Originally published at https://www.redpublic.com on December 19, 2021.
