Building a sustainable and resilient ocean economy beyond 2030

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(www.MaritimeCyprus.com) Fifty to 80 percent of life on Earth is found in the ocean. For centuries the ocean, which is the planet’s life support system, was considered too vast to fail and its resources so infinite that they could be exploited imprudently.

The ocean economy is worth between $3 trillion and $6 trillion and offers vast opportunities for developing countries to build resilience.

But marine resources are under threat from climate change, pollution and overfishing. About 11 million tonnes of plastic flow into the ocean each year. Globally, 34% of fish stocks have fallen to levels that are biologically unsustainable.

At stake are the livelihoods of about 3 billion people – living mostly in coastal developing countries – who rely on the ocean for food and income.

The Trade and Environment Review 2023 analyses the impacts of human activities and global crises on the ocean economy, which includes traditional sectors such as fishing and shipping, as well as emerging ones like offshore wind energy and marine biotechnology. It addresses the current and emerging crosscutting role of the ocean in advancing economic growth, social inclusion and environmental sustainability.

The report builds on the recommendations from the 4th UN Oceans Forum and the 2nd UN Ocean Conference held in 2022. It highlights the urgent need for a global “Blue Deal” to boost investment in protecting our ocean and sustainably using its resources.

You can download the full report by clicking below:

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Source: UNCTAD

 

 

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