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Environmental Business Review | Wednesday, June 29, 2022
"The blue economy is a fresh concept that promotes better stewardship of our ocean or blue resources to limit global warming to 1.5 degrees Celsius."
FREMONT, CA: Most of the financial advantages from the maritime economy go to a small number of corporations. The ocean economy's structure recalls the global economy's structure. And this degree of concentration poses environmental risks. Powerful corporations can more readily push governments to eliminate social or environmental regulations requiring them to limit greenhouse gas emissions or pay greater wages.
The blue economy is a new vision that promotes better stewardship of our ocean or blue resources to cap global warming to 1.5 degrees Celsius. The ocean's role in averting climate change disasters is important. It is projected to absorb at least a quarter of the world's carbon dioxide emissions.
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Here are some of the most exciting ocean sustainability trends shaping the industry.
Check Out This: Environmental Business Review
Seawilding
The notion of seawilding extends the concept of rewilding (conservation activities focused on restoring and maintaining natural processes and wilderness areas) to our oceans. Rewilding the seafloor, for example, offers a significant opportunity for carbon sequestration: seagrass sequesters carbon 35 times quicker than trees while simultaneously mitigating the consequences of storm surges. But how can one begin seawilding? More marine protected areas (MPAs) could be part of the solution. These are sections of the ocean that have been designated for long-term conservation purposes. However, only six percent of the ocean is currently protected, and most existing MPAs lack sufficient human and financial resources to execute conservation and management measures. While increasing political commitments can assist in strengthening the governance structures and resources available to MPAs, innovation will be necessary to equalize and restore the seas.
Energy Afloat
Energy is the most significant contributor to climate change, accounting for over 60% of total global greenhouse gas emissions - hence there is an urgent need to investigate renewable and clean energy sources such as wind and solar power. The issue with these sources is the amount of space they demand, which is particularly problematic for smaller, backward, and landlocked countries. To fill the gap, innovation is required. And ocean-based areas for renewable energy generation could be one solution.
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