Energy Industry Review

World - Why Blue Economy Is So Important

The concept of ‘Blue Economy’ is one spreading fast throughout the globe and aims at transforming our economy, our habits and our planet during the 21st century.

One of the key pillars of the notion is sustainability and many other are encompassed. With many similarities to ‘Green Economy’, the ‘bluer model’ aims at improving life as a whole, encompassing social aspects like social equity, along with reducing ecological risks and fuelling the economy through sustainable ways, for the sake of the current but also the future generations. The concept, evidently is tied to our oceans and seas; it encourages better stewardship of our ocean or ‘blue’ resources and highlights the close bonds between the oceans, global climate, and finally the wellbeing of humans.

Nevertheless, Blue Economy goes far beyond considering the oceans as a lever for economic growth. Numerous states across the globe fostered the development of their marine economies through the exploitation of maritime and marine resources (shipping, fishing, oil, gas, minerals etc.) often much concern of the effects of their activities on future generations. Evidently, multiple aspects of ‘blue’ emerge out of the need for sustainability, like preservations of traditional ways of life, carbon sequestration, and coastline resilience to help island (and not only) nations withstand the onslaught of climate change.

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