The ocean makes a significant and growing contribution to the world economy. According to the Organisation for Economic Co-operation and Development (OECD), the size of the ocean economy was an estimated $1.5 trillion in 2010, equivalent to around 3% of global GDP. By 2030, the oceanās contribution is forecast to double in size to $3 trillion (from 2010 levels). Innovation is crucial to both harness the opportunities a sustainable ocean economy can offer and address the risks that ocean degradation poses. Areas of particular promise for innovative solutions include ocean energy, the decarbonisation of shipping, aquaculture, ecosystem restorationĀ and āblue carbonā, ocean geoengineering, and blue finance.
Read my full guest article for Innovation News Network.
More posts on the ocean economy:
- Speaking at Economist Impact’s 12th annual World Ocean Summit & Expo in Tokyo
- Bali Ocean Days: Aligning investment, underwriting and lending activities with building a sustainable blue economy
- Speaking about “Impact Finance for a Sustainable Blue Economy” at Bali Ocean Days
- Joining the United Nations Environment Programme Finance Initiative (UNEP FI)
- Reminiscing about the successes of 2024