Building a Sustainable Ocean Economy

The ocean, a potential economic frontier, is a shared global resource. However, the expansion of ocean-related industries without considering the environment risks depleting natural resources and essential marine ecosystem services.

Marine biodiversity, comprising species, ecosystems, and genetic diversity, provides crucial services like food production, oxygen generation, and carbon sequestration. Biodiversity loss undermines these services and hampers ecosystem resilience.

Coastal communities face risks from sea level rise, extreme weather events, resource depletion, over-tourism, and pollution. Policymakers respond to these challenges through measures such as marine protected areas and policy instruments like taxes and subsidies.

However, harmful policies supporting offshore oil and gas extraction and unsustainable fishing hinder climate and biodiversity goals.

Monitoring progress, promoting innovation, and investing in ocean sustainability can drive the necessary changes for a more efficient and environmentally sound ocean economy.