Spread green, save blue, and donate red.
These three aspects of nature are essential for the sustenance of the environment. But do you know how “blue” contributes socially and economically? Blue i.e., the oceans and other water bodies, cover 72% of the planet, and they are highly influential on the environment. The proper utilization of these resources is vital for a better environment to live in.
Role of Blue nature
From the regulation of Earth’s climate to providing food and livelihood to humans, the importance of the seas and marine life is inevitable. Not only is fish consumed as a source of food, but marine life has also been explored to enjoy more food options like a weed, sea grapes, etc. However, in the past years, the oceans have gained massive significance in the global economy by the name of the Blue economy.
What is the Blue Economy?
The blue economy is the utilization of ocean resources to establish an improved economy. The marine ecosystem has been utilized to create beneficial opportunities and develop businesses like Commercial fishing, shipping, gas, oil, and mineral industries. But somehow all this has managed to harm the oceans in one way or the other.
The Blue Economy is a vision vaster than an only-business perspective. The Blue Economy aims for the well-being of humans and social equity, along with the improvement in environmental conditions that were neglected previously. Many countries have been benefiting from the oceans and lifting their economies, resulting in the exploitation of marine life.
This resource can be of great advantage to the small island states that have extensive ocean resources at their end. They can make utilization of the “Blue Economy” in the best way to combat unemployment, food scarcity, and social inequity. Additionally, if they cannot manage these vast resources, the advantages can be extended to other states for economic stability.
Blue Economy activities
- Renewable energy
Production of sustainable marine energy can be a critical source of economic development. Oceans can be a great source of thermal and mechanical strength as they are world solar collectors.
- Climate change
Though the depleting natural resources are harming the sea levels and changing ocean current, yet the oceans are an essential carbon sink and help to balance the negative aspects.
- Marine transport
More than 80% of the transportation of international good revolves around the sea-route. The sea-borne transport of goods is expected to double by 2030 and rise to four times in 2050.
- Fisheries
A major economical ocean source is fisheries. The global economy makes above $270 billion through fisheries, providing job opportunities thousands of people and improving social and economic well-being.
- Marine biotechnology
Biotechnology is a progressing field of science, bragging a notable place in the global market. Several marine bacteria are the potential source of drugs, and algal buffers can be promising on energy prospects.
- Tourism
Tourism is a growing industry in the coastal and marine islands that brings over 41 million visitors every year. The rise in tourism promises more jobs to people and growth in national as well as the global economy.
What is PRO BLUE?
PRO BLUE is an initiative of the World Bank that encourages the implementation of Sustainable Development Goals (SDG), particularly SDG-14. The program aims to back the poor through the marine sources without causing any harm to the oceans. PRO BLUE emphasizes on four vital elements:
- Getting rid of marine pollution including plastic
- Managing aquaculture and fisheries
- Providing maritime opportunities like tourism, renewable energy, blue biotech, etc.
- Encouraging governments to utilize marine resources in the best way to benefit their economy
Blue Economy in Pakistan
Owing to the Indian Ocean, Pakistan has an excellent opportunity with 1050km along the coastline and 240,000sq. Km of the Exclusive Economic Zone. The maritime zone of Pakistan, including the continental shelf, extends up to 350 nautical miles from the coastline. Prime Minister Imran Khan has declared 2020 as the year of the blue economy intending to utilize the coastal areas to fulfill the national development agenda.
In 2015, the China Pakistan Economic Corridor (CPEC) was inaugurated, which has provided ample opportunities to explore sea resources pertaining to the economic stability of the country. CPEC and the new deep seaport can be expected to aid towards a positive impact on the region’s economy.
