What is the 'Blue Economy'
The ‘Blue Economy’ is a term that has emerged in the past decade, in response to environmental, resource and social challenges in ocean and coastal use and management. Whilst a contested concept, most interpretations embrace the opportunities associated with the ocean, whilst recognising, accounting for and addressing its threats. The Blue Economy is therefore an idea, which recognises the multiple benefits of marine and coastal ecosystems for current and future generations and the need for sustainable use and development of these resources.
Key components of the blue economy are generally considered to include:
- ecosystem based management of fisheries,
- restoration and maintenance of blue carbon elements including mangroves,
- salt marshes and sea grass,
- sustainable sea transport,
- environmentally responsible aquaculture development and
- the production of ocean renewable energy from offshore wind, waves, currents and tides.
