WHAT ARE THE MAIN COMPONENTS OF THE BLUE ECONOMY?

-

The blue economy, as defined by the World Bank, is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem." According to the European Commission, it includes "all economic activity involving oceans, seas, and coastlines.


The sustainable use of ocean resources for economic development, bettering human conditions, and safeguarding marine ecosystems is known as the "blue economy."


It includes a diverse variety of economic fields and pursuits that are either directly or indirectly associated with the seas, oceans, and coastal regions. The idea of the "blue economy" emphasizes how the ocean may provide chances for sustainable development, innovation, and business.


7 significant Elements of blue economy


The blue economy idea acknowledges the connections between social progress, environmental sustainability, and economic growth.


To strike a balance between economic growth and the preservation and sustainable use of marine resources, it promotes responsible and holistic approaches to ocean governance.


The following are significant elements of the blue economy:

1) Fisheries and aquaculture: This includes using marine resources sustainably for commercial fishing and aquaculture operations. It strives to maintain marine biodiversity, ensure the long-term profitability of fisheries, and advance ethical fishing methods.

2) Renewable Energy: The blue economy encourages the development of ocean-based renewable energy sources such as offshore wind, tidal, wave, and ocean thermal energy conversion (OTEC). These innovations in renewable energy help to lessen dependency on fossil fuels and combat climate change.

3) Exploration and use of marine organisms and chemicals for pharmacological, cosmetic, and biotechnological improvements are included in this category of marine biotechnology and pharmaceuticals. To fully use the potential of marine biodiversity, it places a strong emphasis on sustainable and ethical bioprospecting.

4) Marine Research and Innovation: To increase our understanding of marine ecosystems, create sustainable practices, and solve new issues relating to ocean health and conservation, the blue economy promotes scientific research, technology development, and innovation.

5) Trash Management and Pollution Control: This section focuses on the sustainable management of marine trash and pollution, including initiatives to lessen plastic pollution, encourage recycling, and provide cutting-edge approaches to waste management in coastal and marine settings.

6) Maritime Transportation and Logistics: These services enable the transportation of resources, people, and products across seas. They include shipping, ports, and logistical services. It focuses on increasing marine safety and security, lowering carbon emissions, and improving transportation efficiency.

7) Coastal Tourism and Recreation: Activities like coastal tourism, beach resorts, leisure boating, and water sports are all included in this industry. It strives to promote eco-friendly tourist methods that save cultural heritage, safeguard coastal habitats, and give local populations economic opportunities.


                                                 *********************

Comments

Post a Comment

Popular posts from this blog

WHY RWANDA JOIN EAST AFRICAN COMMUNITY (EAC)? – COMPARATIVE ANALYSIS - Part 2

-
Image
Rwanda, formally the Republic of Rwanda, is a landlocked nation in the Great Rift Valley of Central Africa, where the continents of Southeast Africa and the African Great Lakes meet. Rwanda is surrounded by Uganda, Tanzania, Burundi, and the Democratic Republic of the Congo and is situated a few degrees south of the Equator.   Rwanda, officially the Republic of Rwanda, Hutus and the Tutsis, are the two main tribes in Rwanda. The 1994 Genocide in which the Hutus turned against the Tutsis was experienced by the nation.  Paul Kagame is the head of the military government that controls it. By ratifying the Treaty, it joined the EAC in 2007. It is recognized as the most environmentally friendly nation and has one of the fastest-growing economies in all of Africa. According to World Bank analysis, 13.4 people are living in Rwanda as of 2021. Due to border issues and cross-border communities, it has had some diplomatic challenges with Burundi and the DRC. It has also come under fire for alleg
Read more

10 REASONS UGANDA JOINED TO THE EAST AFRICAN COMMUNITY (EAC) - PART 4

-
Image
Uganda was colonized by the British. It attained its independence in 1962, it’s a land-locked country. Its major tribes are the Baganda, Banyankole, Acholi, Busoga, Samia, Bagisu, itesoits, Japadhola. It’s governed by a military Government-I.e. the National Resistance Movement (NRM) which came to power in 1986.  Uganda is a landlocked country in East Africa with a variety of terrain that includes the enormous Lake Victoria and the snow-capped Rwenzori Mountains.  A widely recognized mountain gorilla shelter is located in Bwindi Impenetrable National Park. According to verified information from the World Bank, Uganda's GDP was roughly 40.53 billion US dollars in 2021. The country's GDP accounts for 0.02% of the world's economy. Furthermore, the nation uses the Owen Falls Dam in Jinja, which takes water from the River Nile, to produce its energy.  It faces diplomatic difficulties with Kenya over the disputed Migingo Island, and West Pokot County is plagued by problems with
Read more

7 REASONS FOR TANZANIA JOINED THE EAC - PART 3

-
Image
a brief history of Tanzania. The country of Tanzania was colonized by the Germans and the British. It attained its independence in 1961. It was ruled by Julius Nyerere as its first president.  In the 1968 Arusha declaration, Tanzania adopted the Socialism Ideology as its official way of life (the Ujamaaa system). Socialism collapsed in 1985 when the Chama Cha Mapinduzi came into power.  Initially, Tanzania was referred to as Tanganyika until 1964 when it united with the Republic of Zanzibar; it became the United Republic of Tanzania.  It’s blessed with L Victoria and Mt Kilimanjaro.  Initially, its capital city was Dar es Salaam but it was shifted to Dodoma due to security reasons as Dare Salaam is a coastal town.  It has got a strong military (The Tanzanian Peoples Defense Force (TPDF). It is free from tribalism; it’s unified by Kiswahili as both its national Language and official language. Its official languages are English and Kiswahili.  It has got diplomatic challenges with Kenya
Read more