Source: May | 2022 | UN-DESA-VOICE

Vol 26, No. 05 – May 2022

Making waves for a blue economy

Our ocean is critical for all life on Earth. It regulates the climate and provides livelihoods for millions. But our ocean’s health is in danger. How can the blue economy help restore and protect this vital planetary resource? Ahead of the 2022 UN Ocean Conference this June, we spoke with UN DESA’s Madhushree Chatterjee who explains.

What do we mean when we talk about the blue economy?

“The blue economy, also known as the sustainable ocean-based economy, comprises a range of economic sectors and related policies that aims to foster economic and social progress while maintaining the health of our oceans and coasts. For instance, the ocean food sector provides up to 237 million jobs globally and provides key nutrients and protein to over 3 billion people. In fact, food from the sea is the primary source of protein to over 50 per cent of the population in least developed countries. Coastal and marine ecosystems contribute up to 11.5 billion USD to global tourism, while also protecting our coasts from storms and floods, providing habitat for biodiversity, carbon storage, and detoxification. In terms of the global economy, around 90 per cent of all internationally traded goods are shipped by sea, and the market value of marine and coastal resources and industries is estimated at US$3 trillion per year or about 5 per cent of global gross domestic product. Sustainable use of ocean, seas and marine resources, as set out in SDG14, lies at the center of a sustainable blue economy, though common principles are yet to be determined.”