QUES . “In spite of all its promises, the potential to develop a blue economy is limited by a series of challenges.” Comment.
HINTS:
The “blue economy” concept seeks to promote economic growth, social inclusion, and the preservation or improvement of livelihoods while at the same time ensuring environmental sustainability of the oceans and coastal areas.
A blue economy offers Small Island Developing States and Coastal Least Developed Countries the opportunity to diversify from a narrow production base, invest in and develop growth and employment opportunities in a wide range of both existing and new sectors and industries.
However In spite of all its promises, the potential to develop a blue economy is limited by a series of challenges.
First and foremost is the need to overcome current economic trends that are rapidly degrading ocean resources through unsustainable extraction of marine resources, physical alterations and destruction of marine and coastal habitats and landscapes, climate change, and marine pollution.
The second set of challenges is the need to invest in the human capital required to harness the employment and development benefits of investing in innovative blue economy sectors.
The third set of challenges relates to strengthening the concept and overcoming inadequate valuation of marine resources and ecosystem services provided by the oceans.
The fourth set of challenges relates to isolated sectoral management of activities in the oceans, which makes it difficult to address cumulative impacts.
The fifth set of challenges relates to inadequate human, institutional, and technical capacity.
The sixth set of challenges relates to underdeveloped and often inadequate planning tools.
The seventh set of challenges relates to lack of full implementation of the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and relevant conventions and instruments.
While stimulating growth in individual oceanic sectors is comparatively straightforward, it is not always clear what a sustainable blue economy should look like and the conditions under which it is most likely to develop.
The “blue economy” concept seeks to promote economic growth, social inclusion, and the preservation or improvement of livelihoods while at the same time ensuring environmental sustainability of the oceans and coastal areas.
Thus, in order to become actionable, the blue economy concept must be supported by a trusted and diversified knowledge base, and complemented with management and development resources that help inspire and support innovation.
