BLUE ECONOMY
** According to world bank, Ocean economy referred as to protect ocean and use oceanic resources sustainably. And also oceans has tremendous potential to spur economic growth, creates job and mitigate some of most severe climate impact .
** European Commission defines it as “All economic activities related to oceans, seas and coasts.
** The topic point ocean economy gain momentum in 21st century . The ocean economy has a wide range of sectors, including shipping, tourism, fisheries, and offahire oil and gas exploration.
## Importance of oceans
More than three billion people rely on the ocean for their livelihoods, most of them in developing countries. Also , The ocean is a vital life support system for the earth , and it’s need of hour to preserve the marine biodiversity. Additionally Ocean play vital role to provide us valuable minerals and resources which are important to Survive on earth.
The role of the ocean and coastal and marine ecosystems in climate change mitigation is often overlooked. Protecting and restoring ocean habitats such as seagrass beds, salt marshes, and mangroves, and their associated food webs, can sequester carbon dioxide from the atmosphere at rates up to five times greater than tropical forests.
So it’s need of hour to focus on oceans, because degradation of coastal and marine ecosystems threatens the physical, economic, and food security of communities around the world.
## G-20 and ocean economy
The G20 countries together account for around 45% of the world’s coastlines and over 21% of the exclusive economic zones (EEZs) so it has a special duty to protect marine ecosystems Andrew is well-positioned to deploy ocean-based climate solutions as the world continues its post-pandemic recovery. During G20 presidency, India would play an significant role in promoting individual as well as collective actions to promote the transition towards a sustainable blue economy.
## India government intiative
Government of India has launched bold initiatives to promote the development of a ocean economy.
1) Sagar Mala Project :: which aims to modernise India’s port infrastructure and improve connectivity to coastal areas. It will also increase the logistic sector of our country , which is important sector of indian economy. It promote port led development of india.
2) the Blue Economy Program :: which focuses on promoting sustainable economic development in coastal areas. India’s vision is that, blue economy will contribute to food security, poverty alleviation, the mitigation of and resilience to the impacts of climate change, simultaneously it also enhance trade and investment, enhance maritime connectivity, boost diversification, job creation and socio-economic growth.
3) Samundrayan project :: It’s India’s first manned ocean mission. Government of India approved this deep ocean mission in 2021 . This mission will enable exploration of Ocean resources for drinking water , Clean Energy and blue economy initiatives . Moreover this mission will make deep sea mining and Exploration a reality. Does mission is to be implemented under surveillance of ministry of Earth science .
O- SMART , integrated coastal zone management , and india norway task force on blue economy for sustainable development
, these are some steps taken by government of India to promote oceam economy.
## Challenges for ocean economy
1) Lack of Infrastructure: This year India is leading presidency of G-20 , but there is a lack of ports, airports, and other infrastructure in many coastal areas of India, which can make it difficult to develop and expand economic activities in these regions , so it’s important for India to take note of this problem , and came forward to solve it and also promote to other developing countries and under develop countries to promote efficient ocean economy.
2) Climate Change: Rising sea levels, negative Indian Ocean dipole and other impacts of climate change can pose risks to coastal communities and also have negative impacts on the blue economy
G-20 Ocean economy
** According to world bank, Ocean economy referred as to protect ocean and use oceanic resources sustainably. And also oceans has tremendous potential to spur economic growth, creates job and mitigate some of most severe climate impact .
** European Commission defines it as “All economic activities related to oceans, seas and coasts.
** The topic point ocean economy gain momentum in 21st century . The ocean economy has a wide range of sectors, including shipping, tourism, fisheries, and offahire oil and gas exploration.
## Importance of oceans
More than three billion people rely on the ocean for their livelihoods, most of them in developing countries. Also , The ocean is a vital life support system for the earth , and it’s need of hour to preserve the marine biodiversity. Additionally Ocean play vital role to provide us valuable minerals and resources which are important to Survive on earth.
The role of the ocean and coastal and marine ecosystems in climate change mitigation is often overlooked. Protecting and restoring ocean habitats such as seagrass beds, salt marshes, and mangroves, and their associated food webs, can sequester carbon dioxide from the atmosphere at rates up to five times greater than tropical forests.
So it’s need of hour to focus on oceans, because degradation of coastal and marine ecosystems threatens the physical, economic, and food security of communities around the world.
## G-20 and ocean economy
The G20 countries together account for around 45% of the world’s coastlines and over 21% of the exclusive economic zones (EEZs) so it has a special duty to protect marine ecosystems Andrew is well-positioned to deploy ocean-based climate solutions as the world continues its post-pandemic recovery. During G20 presidency, India would play an significant role in promoting individual as well as collective actions to promote the transition towards a sustainable blue economy.
## India government intiative
Government of India has launched bold initiatives to promote the development of a ocean economy.
- Sagar Mala Project :: which aims to modernise India’s port infrastructure and improve connectivity to coastal areas. It will also increase the logistic sector of our country , which is important sector of indian economy. It promote port led development of india.
- the Blue Economy Program :: which focuses on promoting sustainable economic development in coastal areas. India’s vision is that, blue economy will contribute to food security, poverty alleviation, the mitigation of and resilience to the impacts of climate change, simultaneously it also enhance trade and investment, enhance maritime connectivity, boost diversification, job creation and socio-economic growth.
- Samundrayan project :: It’s India’s first manned ocean mission. Government of India approved this deep ocean mission in 2021 . This mission will enable exploration of Ocean resources for drinking water , Clean Energy and blue economy initiatives . Moreover this mission will make deep sea mining and Exploration a reality. Does mission is to be implemented under surveillance of ministry of Earth science .
O- SMART , integrated coastal zone management , and india norway task force on blue economy for sustainable development
, these are some steps taken by government of India to promote oceam economy.
## Challenges for ocean economy
- Lack of Infrastructure: This year India is leading presidency of G-20 , but there is a lack of ports, airports, and other infrastructure in many coastal areas of India, which can make it difficult to develop and expand economic activities in these regions , so it’s important for India to take note of this problem , and came forward to solve it and also promote to other developing countries and under develop countries to promote efficient ocean economy.
- Climate Change: Rising sea levels, negative Indian Ocean dipole and other impacts of climate change can pose risks to coastal communities and also have negative impacts on the blue economy.
- Marine Pollution: Pollution from sources such as oil spills, plastic waste, and industrial effluent can harm marine ecosystems and have negative impacts on the blue economy not in India only but also other coastal or island countries .
## Road ahead
- Investing in sustainable fisheries and, in aquaculture will create well-paid jobs and help promote food security and economic fairness, especially in case of developing countries.
- Fill knowledge gaps : need to establish and international research agenda to collect and synthesize high quality deep sea scientific data to fill identify gaps in knowledge required for decision making and environment management.
As per high level panel 2021 report, on a sustainable ocean economy ,found that ocean-based climate and nature-based solutions such as these could collectively reduce around 4 billion tonnes of greenhouse gas emissions annually by 2030 and more than 11 billion tonnes by 2050.
Further more other international organization also contributing to enhance global oceam economy, as like Uno adopt a sustainable development gaol focused on preserving oceans.
Conclusion
Scientists have called for securing at least 30% of marine waters. Today, just 7% of the world’s ocean is under protection, and only 3% is highly protected. So
G20 countries must expand these efforts and increase collaboration with each other , to further strengthen and implement a sustainable global blue economy that benefits everyone.
