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:
- Insights from the UN Ocean Conference: mainstreaming sustainable blue finance
- Delivering opening remarks for Biodiversity Credit Alliance event at UN Ocean Conference
- Moderating event on UK Overseas Territories by the Marine Conservation Society
- Speaking at UNIDOs event on Advancing Blue Industry for Sustainable Development at UN Ocean Conference
- Speaking at Circle the Med – The Mediterranean Forum in Athens