Blue Economy

What is Blue Economy

Blue Economy is a concept promoted from the businessman and economist Gunter Pauli and can , also, be called as Green Economy 2.0.
Through Blue Economy proclaimed the goal of 100 innovations through development of sustainable business models, to create 100 million jobs in 10 years, and all with zero emissions and no waste. For the practical support the Gunter Pauli founded a number of organizations and tools : Zero Emissions Research Initiative (ZERI) and consequent Global ZERI Network which uses, scientific and general public information for identifying and developing sustainable business solutions. The tool that has been created in synergy with ZERI is the Blue Economy Alliance.

The Blue Economy described as living with the ocean and from the ocean in a sustainable relationship. The concept of Blue Economy integrates two dimensions – that of the provision of goods and services and the protection and security of property and life in a manner which is sustainable and guarantees the rights of future generations. In this relationship of living with the ocean and from the ocean, humans need to learn and find innovative ways and means of responding with preparedness, adaptation and mitigation measures of which the costs and benefits are an integral component of the economy as a whole.

How can that be achieved

Application of this concept fully is essential to any country’s wealth, growth, prosperity and sustainable development. Most countries Growth Domestic Product (GDP) comes from coastal areas (shipping, tourism, fisheries, aquaculture, energy, national defense, etc.). All these factors have to be integrated into holistic and collective governance architecture just as their value added is interconnected. The emerging Blue Economy may be characterized by integration and interdependence of all stakeholders and actors and thus calls for a different type of strategy and governance.

The Blue Economy at the national level revolves around efficient and sustainable use of ocean and coastal services and resources that internalizes external costs together with an efficient valuing of natural non market assets and services and the access thereto. This however makes imperative a major reform of the financial architecture for a fiscal overhaul that reflects all aspects of ocean services.

An important tenet of the blue economy is that the responsibility as well as sharing in the costs and benefits does not rest with one entity such as the State but it should be spread among all stake holders. It is the responsibility of all stake holders in a holistic model at the level of the individual, the locality, the community, the society, the region, the national level and the international, public and particularly private sectors.

In order to promote Blue Economy is essential for every state to engage political and economic decision makers at national and international levels. It is important, also, to understand the importance of Hydrography and promote new hydrographic planning.

Demystifying the Blue Economy

Given today’s realities, the concept of the Blue Economy calls for a systemic change in economic values behavior to one based on ethical and moral imperatives that promotes the respect for common goods and their sustainability and not the market value and profit margins of production and exploitation that are driven by greed. Ensuring such ethical and moral economic values is dependent on expressed governance architecture and enlightened management that are necessary components of the concept.

Hence the economic parameters in the Blue Economy must by deduction be the long term benefits from long term investment which often has to be achieved at the pain of short term cost and sacrifice. It is not about growth parse but it is about long term sustainable growth and quality of life. It should be about a balance between growth in services and resource use and the quality of life of people and coastal communities.. As a result critical natural capital is prized and protected and ecosystems services are valued and incorporated in the cost and benefits analysis.

Principles

1. Reducing the vulnerability of people to the effects of ocean degradation and natural hazards.

2. Developing ways and means of adaptation to the impacts of climate change, including sea level rise.

3. Promoting more sustainable management of coastal areas.

4. Reducing pollutants from sea and land-based activities, including gas and oil extraction, marine debris, harmful substances and nutrients from wastewater, industrial and agricultural runoff entering the world’s oceans.

5. Reducing over-fishing and eliminating destructive fishing practices;

6. Encouraging a green economy approach in the context of sustainable development and poverty eradication;

7. Strengthening the implementation of existing agreements.

In this regard, it is particularly important that:

• Regions and countries , most vulnerable to marine related hazards (including sea level rise), be identified and mitigation and adaptation plans developed

• Early warning systems for tsunamis and other extreme events be established for all vulnerable regions;

• By 2025, based on collected scientific data, all countries set relevant national targets for nutrients, marine debris and wastewater.

The importance of this new innovative concept is obvious in any part of social and economic life of a country, and gradually in the whole world. The winds of change are blowing in how we all view, manage and care our oceans and seas

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