11. Developing the Blue Economy in Caribbean and Other Small States
- Author:
- Cyrus Rustomjee
- Publication Date:
- 03-2016
- Content Type:
- Policy Brief
- Institution:
- Centre for International Governance Innovation (CIGI)
- Abstract:
- The world’s oceans are crucial to human life. They cover 71 percent of the earth’s surface and contain 97 percent of the earth’s water (Oceanic Institute 2016); provide vital ecosystem services; serve as a growing source of renewable energy and make crucial contributions to global food production and food security, through the provision of food, minerals and nutrients. Fish provide 4.3 billion people with about 15 percent of their intake of animal protein (UN Food and Agriculture Organization [FAO] 2014b). Over 3.1 billion people live within 100 km of the ocean or sea in about 150 coastal and island nations (FAO 2014a), and global ocean economic activity is estimated to be US$3–5 trillion (FAO 2014b). Oceans and seas serve as waterways for global trade, with more than 90 percent of global trade carried by sea (International Maritime Organization 2012). Some 880 million people depend on the fisheries and aquaculture sector for their livelihoods (ibid.). Recognition of the services and resources provided by oceans has accelerated in recent years, spurred by the opportunities and challenges posed by a rapidly growing global population, increasing global demand for food and energy, advances in technology, and changes in patterns of global trade and human consumption. Developed countries have expanded fisheries, tourism and other oceanic and maritime industries; extended mineral exploration and extraction; and scaled up ocean-related scientific, technological and industrial research. Using increased knowledge of marine biodiversity, they have developed new value chains in pharmaceuticals, health care and aquaculture; and many have established integrated national ocean economy strategies, bringing together the regulatory, environmental, spatial, policy, institutional, industrial and other factors influencing their ability to exploit maritime resources.
- Topic:
- Environment, Political Economy, Maritime Commerce, Biosecurity, and Natural Resources
- Political Geography:
- Caribbean and Global Focus