Oceans cover 72% of the
surface of our blue planet and life
originated in the Oceans ! Even today ocean provide a substantial portion of
the global population with food and livelihood. And oceans are the means of
transportation for about 80% of global trade.
The oceans have the
potential to meet the sustainable business needs of today’s world and hence
they have a major role to play in humanity’s future. Sea bed currently provides
32% of global supply of hydrocarbons and the exploration is keep expanding. In
addition, the sea bed mining is happening for sourcing sea based mineral
resources. Sea also offers vast potential for renewable “Blue Energy”
production from wind, wave, tidal, thermal and biomass sources. Marine and
coastal based environment is the key resource for global tourism industry.
The “Blue Economy” conceptualizes ocean as “Development Spaces”. Blue Economy offers an approach which suites the circumstances, constraints and challenges . Blue Economy based
business / economic modelling will incorporate ocean values and services in
decision making.
Blue Economy offers a number
of opportunities for sustainable and clean growth in traditional and energy
sectors. Few areas are as listed below:
a. Port and Shipping
facilities
b. Fisheries
c. Tourism
d. Aquaculture
e. Energy
f. Biotechnology.
g. Submarine mining.
The Blue Economy approach urges
the international community to judiciously manage the resources in and beneath
international waters, by the refinement of international law and ocean
governance mechanisms. A key component of international cooperation for the
Blue Economy approach is Research.
(Source: Blue Economy
concept paper , The future we want. UNCSD 2012)
