Empowering blue economy: From underrated ecosystem to sustainable industry

Abstract: 

With increasing demand for resources to achieve global food-water-energy nexus and rapid decline in land-based sources, oceans represent both solution and boost to sustainable environment and economy. In addition to fundamental part of earth’s ecosystem for uncatalogued diversity of life, oceans are undervalued economy powerhouse with gross marine product value. With sustainable management of existing assets including ship- ping, transportation, manufacturing, fisheries, tourism and exploration of new business like marine biotech- nology and renewable energy, the ocean or blue economy has potential to fulfill sustainable development goals (SDG). In spite of recognition of blue economy as a new economic frontier, investments by existing industries and emergence of new ones are limited and less known, hence require more in depth attention and scientific un- derstanding. In the present study, authors present a systematic comparative assessment of blue economy sectors with distinct challenges and strategies to be further explored and implemented for industrial deployment. The conceptualization of integrated routes of bio(economy) by the current study can act as gateway for key stake- holders, i.e. governance, bluepreneurs (scientists and industries) to prioritize technologies for sustainable ap- plications of marine resources. 

Author(s): 
Poonam Choudhary
Venkata Subhash G
Monika Khade
Sandip Savant
Amar Musale
Raja Krishna Kumar G
Meenakshi Sundaram Chelliah
Santanu Dasgupta
Keywords: 
Blue economy
Gross marine product
Marine biotechnology
Sustainable development goals
Bluepreneurs
Article Source: 
Journal of Environmental Management 291 (2021) 112697
Category: 
Basic Biology
Economics
Uses of Seaweeds: Miscellaneous