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MEJASCO BSME 4A
BLUE ECONOMY
The blue economy, or the ocean economy, is a term used to describe the economic
activities associated with the oceans and seas. The World Bank defines the blue economy
as the “sustainable use of ocean resources to benefit economies, livelihoods and ocean
ecosystem health”. The activities commonly understood to represent the blue economy
include maritime shipping, fishing and aquaculture, coastal tourism, renewable energy,
water desalination, undersea cabling, seabed extractive industries and deep-sea mining,
marine genetic resources, and biotechnology.
The blue economy is estimated to be worth more than US$1.5 trillion per year
globally. It provides over 30 million jobs and supplies a vital source of protein to over three
billion people. While it has been eclipsed in recent years by a greater focus on the ‘green
economy’ (that is, the role of primarily land-based activities in the economic
transformation required to transition to a low-carbon future), a renewed interest in the blue
economy (also sometimes referred to ‘blue growth’) is indicated by the OECD prediction
that the ocean economy may double in size to $3 trillion by 2030.
There is also increasing investment by governments and companies in nature-
based solutions to climate change provided by the oceans. These include carbon
sequestration, coastal protection, biodiversity conservation and waste management.
https://www.lse.ac.uk/granthaminstitute/explainers/what-is-the-role-of-the-blueeconomy-
inasustainablefuture/#:~:text=The%20blue%20economy%2C%20or%20the,livelihoods
%20and%20ocean%20ecosystem%20health%E2%80%9D.
Oceans, seas and coastal areas contribute to food security and poverty
eradication. Over three billion people use the oceans for sustenance and 80% of world
trade occurs over the seas.
But we are people and the way in which we exploit nature is the main threat to
oceans. We prioritize economic benefits at the expense of environmental degradation
and, as a consequence, the sea is being acidified, polluted, its temperature is rising, and
species are being rendered extinct.
The problems suffered by marine ecosystems have repercussions well beyond the
coasts. They threaten the whole planet, our means of feeding ourselves, and life as we
know it. This is why urgent action is needed to protect the oceans and the people
depending on them.
With this in mind, the blue economy was born, a concept which includes all the
activities linked to water, the sea and oceans. It’s based not only on the traditional usage
such as fishing and aquaculture, but also combines a broader vision of activities which
can offer important sources of sustainable, economic development.
https://www.activesustainability.com/water/blue-economy/?_adin=02021864894
4. Deep-Sea Mining
In the field of deep-sea mining, emerging innovations include remote-operated vehicles
(ROVs) and novel extraction technologies. They improve the efficiency and sustainability
of seabed mining processes. For instance, mining companies use heavy-duty ROVs with
manipulator arms to mine mineral-rich nodules and ore deposits. They also leverage
hydraulic systems and suction dredging to collect minerals without harming the marine
ecosystem. Further, real-time environmental monitoring systems assess the ecological
impact of mining. Innovations in resource recovery and processing, such as
hydrocyclones and magnetic separators, optimize mineral extraction by minimizing
waste. Lastly, deep-sea miners rely on deep-sea power generation and communication
systems to support efficient mining operations.
5. Marine Biotechnology
The applications of marine biotechnology, such as cytarabine and antiviral azidothymidine
from sponges, revolutionize cancer and viral treatments, energy production, and more.
Researchers study marine microorganisms for their unique metabolic capabilities,
enabling the production of enzymes, biofuels, and bioremediation agents. This enables
advances across industries. Omega-3 fatty acids from algae or fish oil, for example,
improve cardiovascular health and brain function. Companies are also developing ocean-
sourced bioplastics to offer biodegradable and renewable alternatives to conventional
plastics. Additionally, marine biotechnology deploys marine organisms and enzymes to
clean up pollution and oil spills, ensuring environmentally friendly bioremediation.
6. Sustainable Aquaculture
Current aquaculture practices pollute water systems by discharging excess nutrients and
fecal matter into oceans. Sustainable aquaculture embraces innovative techniques like
recirculating aquaculture systems (RAS) to reuse water, conserve resources, and reduce
pollution. Fishery companies also use integrated multi-trophic aquaculture (IMTA) to
combine fish species and utilize nutrients more efficiently whilst increasing output.
Offshore aquaculture reduces conflict with other users of coastal resources and
minimizes the impacts on sensitive coastal ecosystems. Further, fisheries utilize recycled
fish feeds or algae-based products to reduce the pressure on wild fisheries. These
innovations drive the sustainability of aquaculture while minimizing the environmental
impact and maximizing the efficiency of marine resources
7. Ocean-Conscious Consumption
Consumers are increasingly choosing ocean-conscious products to protect the health and
well-being of the oceans. In response, companies experiment with biodegradable and
compostable packaging materials made from cornstarch or seaweed to reduce plastic
pollution. Cosmetic brands are developing personal care products with natural,
biodegradable ingredients to avoid harming marine life and water pollution. Startups are
also promoting sustainable seafood practices to minimize overfishing and ensure seafood
availability for the future. Textile and clothing companies are incorporating sustainable
materials like recycled ocean plastic to reduce the fashion industry’s environmental
impact. Additionally, the fishing industry is embracing innovative designs such as
biodegradable nets and smart nets to reduce harm to marine life. These collective efforts
demonstrate a shared commitment to preserving the oceans for generations to come.
8. Coastal Resilience
Government agencies develop and employ coastal resilience strategies to enhance the
ability of coastal areas to withstand and recover from the impacts of natural disasters and
climate change. Researchers develop advanced modeling techniques and real-time
monitoring systems to predict areas at high risk of flooding. Early warning systems further
provide timely alerts to residents and authorities, enabling evacuation and emergency
response efforts. Architects design floating homes and buildings that adapt to changing
water levels and reduce vulnerability to floods. Additionally, communities implement
techniques such as constructing offshore breakwaters or submerged barriers to help
dissipate wave energy before it reaches the coast. This reduces the impact of storms and
erosion on coastal communities.