{"id":11017,"date":"2023-05-10T15:28:44","date_gmt":"2023-05-10T14:28:44","guid":{"rendered":"https:\/\/maritimafrica.com\/en\/?p=11017"},"modified":"2023-05-10T15:37:34","modified_gmt":"2023-05-10T14:37:34","slug":"global-blue-deal-urgently-needed-to-protect-and-invest-in-our-ocean","status":"publish","type":"post","link":"https:\/\/maritimafrica.com\/en\/global-blue-deal-urgently-needed-to-protect-and-invest-in-our-ocean\/","title":{"rendered":"Global \u2018Blue Deal\u2019 urgently needed to protect and invest in our ocean"},"content":{"rendered":"
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An UNCTAD report highlights the opportunities the ocean holds for developing countries and charts a new course to sustainably use marine resources.<\/h4>\n
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\u00a9 Shutterstock\/Borkin Vadim<\/strong>\u00a0| Workers prepare fish for canning.<\/figcaption><\/figure>\n<\/div>\n
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The ocean holds vast opportunities for developing countries to build more innovative and resilient economies.<\/p>\n

But climate change, pollution and overfishing threaten those opportunities and the livelihoods of about 3 billion people who rely on the ocean for food and income.<\/p>\n

UNCTAD\u2019s\u00a0Trade and Environment Review 2023<\/a>, published on 8 May, analyzes the world\u2019s ocean economy \u2013 worth an estimated $3-6 trillion \u2013 and assesses how human activity and multiple global crises have significantly affected different sectors, including fishing, seafood, shipping and coastal tourism.<\/p>\n

The report, presented at the\u00a03rd UN Trade Forum<\/a>, calls for a global trade, investment and innovation \u201cBlue Deal\u201d to sustainably use our ocean, home to 80% of all life. It builds on the recommendations from the\u00a04th UN Oceans Forum<\/a>\u00a0and the\u00a02nd UN Ocean Conference<\/a>\u00a0held in 2022.<\/p>\n

\u201cThe ocean economy offers many opportunities. We must strike the right balance between benefitting from the ocean and protecting its resources,\u201d UNCTAD Deputy Secretary-General Pedro Manuel Moreno said.<\/p>\n

Invest in emerging sustainable opportunities<\/h4>\n

A global \u201cBlue Deal\u201d could drive more investment into emerging sustainable sectors that could benefit developing countries. The report highlights two promising sectors \u2013 seaweed farming and plastics substitutes.<\/p>\n

The global market for seaweed has more than tripled in two decades, increasing from $4.5 billion in 2000 to $16.5 billion in 2020.<\/p>\n<\/div>\n<\/div>\n

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Seaweed doesn\u2019t need fresh water or fertilizer to grow. It can be farmed in many developing countries for food, cosmetics and biofuels, and provides an alternative to plastic \u2013 11 million tonnes of which flow into the ocean each year.<\/p>\n

Besides seaweed, nature abounds in many other sustainable materials that could be used to make eco-friendly versions of the straws, food wrapping and other plastic products we consume daily.<\/p>\n

The list includes materials that many developing countries have in abundance, like bamboo, coconut husks, banana plants and agricultural wastes. And their communities have a wealth of traditional and cultural knowledge in using these materials.<\/p>\n

The world traded about $388 billion in plastics substitutes in 2020 \u2013 just one third the amount traded in plastics made from fossil fuels. So there is huge potential for growth.<\/p>\n

The report calls for governments and businesses to boost funding for the research and development of emerging sustainable sectors in the ocean economy.<\/p>\n

It urges companies to invest in developing countries to bolster their technology, skills and\u00a0productive capacities<\/a>, so both can capitalize on the new ocean opportunities.<\/p>\n

Promote export diversification<\/h4>\n

Investing in emerging ocean sectors could help developing countries to diversify their ocean exports.<\/p>\n

The global export value of ocean-based goods, such as seafood and port equipment, and services including shipping and coastal tourism was estimated at $1.3 trillion in 2020.<\/p>\n

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The COVID-19 crisis revealed the potential and resilience of some sectors and the extreme vulnerability of others. In general, exports of ocean-based goods, which fell by 3.2%, held up better than services, which collapsed by 59% in 2020.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The drop in revenue from services hit many coastal communities in developing countries, which often rely on sectors like tourism. Diversifying their ocean exports and activities is key to building economic resilience to future crises.<\/p>\n

Governments, the report says, should include the goal of promoting a diverse and sustainable ocean economy in crisis recovery strategies and climate mitigation and adaptation efforts.<\/p>\n

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Protect fish stocks and marine biodiversity<\/h4>\n

An estimated $35 billion of government subsidies go to fishing activities around the world.<\/p>\n

A significant share \u2013 about $20 billion a year \u2013 could contribute to overfishing by enhancing the fishing industry\u2019s capacity through, for example, fuel subsidies or financial incentives to buy bigger boats.<\/p>\n

With 34% of global fish stocks below levels that are biologically sustainable, the report urges countries to urgently ratify the World Trade Organization\u2019s (WTO) Agreement on Fisheries Subsidies, adopted on 17 June 2022.<\/p>\n

The agreement, which is a big step in addressing harmful subsidies, prohibits support for illegal, unreported and unregulated fishing, bans support for fishing overfished stocks, and ends subsidies for fishing on the unregulated high seas. It will enter into force when two thirds of the WTO\u2019s 164 members deposit their \u201cinstruments of acceptance\u201d.<\/p>\n

Similarly, the report calls for governments to adopt and ratify the\u00a0Marine Biodiversity Beyond National Jurisdiction agreement<\/a>\u00a0of 4 March 2023. Better known as the \u201cHigh Seas Biodiversity Treaty\u201d, the agreement will create tools for the fair and equitable sharing of benefits from marine genetic resources and establish internationally protected areas in our ocean.<\/p>\n

A new direction<\/h4>\n

The Sustainable Development Goal dedicated to life below water (SDG 14<\/a>) is the least funded of all the goals.<\/p>\n

From 2013 to 2018, only 1.6% of the total Official Development Assistance \u2013 some $2.9 billion per year \u2013 was directed to the ocean economy.<\/p>\n

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This is far below what\u2019s required to address the ocean crisis. According to recent estimates,\u00a0$175 billion per year will be the minimum needed to achieve SDG 14 by 2030<\/a>, especially given the impact of COVID-19 and other recent setbacks.<\/p>\n

It\u2019s also estimated that an investment of $2.8 trillion today in four sustainable ocean solutions \u2013 conservation and restoration of mangroves, decarbonization of international shipping, sustainable ocean-based food production and offshore wind production \u2013 would yield net benefits of $15.5 trillion by 2050.<\/p>\n

Without a global \u201cBlue Deal\u201d, such benefits and the targets of SDG 14 will be much harder to reach.<\/p>\n

\u201cNow is the time to set a new course by investing more in building a sustainable ocean economy,\u201d Mr. Moreno said.<\/p>\n

 <\/p>\n

Source : UNCTAD<\/p>\n","protected":false},"excerpt":{"rendered":"

An UNCTAD report highlights the opportunities the ocean holds for<\/p>\n","protected":false},"author":1,"featured_media":11019,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,1554,442],"tags":[1493,31,32,1485,1297,1307,45,1197],"class_list":["post-11017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-fishing-aquaculture","category-news","tag-africa-en","tag-maritimafrica","tag-maritime","tag-maritime-in-africa","tag-maritime-industry-en","tag-ocean-en","tag-shipping-en","tag-unctad"],"yoast_head":"\nGlobal \u2018Blue Deal\u2019 urgently needed to protect and invest in our ocean - Maritimafrica<\/title>\n<meta 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