IUCN released a report on Blue Economy

04 May 2024 IUCN released a report on Blue Economy

This article covers ‘Daily Current Affairs’ and the topic details of ”IUCN released a report named Regenerative Blue Economy”. This topic is relevant in the “Environment” section of the UPSC CSE exam.

Why in the News?

The International Union for Conservation of Nature (IUCN) has published a report detailing a plan for implementing a Regenerative Blue Economy (RBE). This strategy extends beyond simple sustainability efforts, seeking to actively rejuvenate and replenish our oceans.

Key highlights of the report

• Proposed Hierarchy: The report suggests a structured approach to categorise different levels of sustainability within the Blue Economy framework, including:

1. Ocean/Brown Economy: Covers all ocean-related economic activities akin to traditional marine sectors like shipping and fisheries, with a focus on economic gain.
2. Sustainable Blue Economy: Encompasses environmental sustainability and ecosystem protection, extending beyond economic interests to include conservation efforts and valuation of ecosystem services, aligning with UN Sustainable Development Goals.
3. Regenerative Blue Economy (RBE): Aims to actively restore and rejuvenate marine ecosystems, combining rigorous regeneration and protection efforts with sustainable economic activities, promoting prosperity while combating climate change and biodiversity loss.

• Connections to Other Approaches: The report delves into the intersections between the Regenerative Blue Economy and other associated concepts, including:

1. Circular economy: The Blue Economy should adopt circular principles, focusing on waste reduction and the promotion of resource reuse and recycling within marine contexts.
2. Bioeconomy: Leveraging marine-based biotechnology and biomass can support a sustainable and regenerative economy within the Blue Economy framework.
3. Social and solidarity economy: Prioritising social justice, fair distribution of benefits, and community-driven initiatives is essential within the Regenerative Blue Economy.
4. Nature-based Solutions: Restoration and preservation efforts in marine ecosystems offer valuable nature-based solutions to tackle societal challenges.

• Tracking Progress: The report addresses the complexities of evaluating the effectiveness of the Blue Economy and suggests a series of benchmarks for various phases:

1. “Brown” Blue Economy: Concentrated on conventional economic measures like revenue and profitability.
2. Sustainable Blue Economy: Integrates environmental and social criteria, such as ecosystem vitality and community welfare.
3. Regenerative Blue Economy: Highlights benchmarks associated with rejuvenation, revival, and fair allocation of advantages.

• Core Principles of RBE:

1. Protection and Restoration: Focuses on safeguarding and restoring marine and coastal ecosystems to combat climate change and biodiversity loss.
2. Inclusive Economic System: Promotes fairness, inclusion, and resilience within the economic framework, ensuring well-being and reduced vulnerability to climate change.
3. Inclusive and Participatory Governance: Advocates for transparent and participatory governance mechanisms, integrating flexible legal and regulatory frameworks into international agreements.
4. Low or No Carbon Activities: Prioritises economic activities with minimal carbon emissions that positively impact marine ecosystem regeneration and local well-being.

• Describing the Regenerative Blue Economy: According to the report, the Regenerative Blue Economy is characterised by:

1. Giving importance to the revitalisation and safeguarding of natural resources and ecosystems.
2. Actively pursuing economic growth while tackling the triple challenges of climate change, biodiversity decline, and pollution.
3. Utilising resources to generate knowledge, provide technical support, and yield investment returns in a manner that prioritises the well-being of people.
4. Encouraging collaboration among governments, conservation groups, economic sectors, and indigenous communities.

• Focus on Island States: Highlights the priority of implementing RBE in island states, considering the specific needs of coastal populations, including Indigenous communities, and respecting their cultural traditions.
• Spectrum of Sustainability: Recognizes various levels of sustainability within the Blue Economy concept, with RBE representing the most ambitious approach, aiming to actively restore ocean health beyond traditional sustainability practices.
• Principles of Blue Economy: Notes common principles proposed by different organisations, emphasising ecosystem health, sustainability, inclusivity, and good governance.
• Blue Carbon and Nature-based Solutions: Emphasises the importance of valuing coastal/marine ecosystem services such as carbon sequestration, highlighting Blue Carbon as an emerging market opportunity aligned with Nature-based Solutions for climate change and biodiversity conservation.
• Key Sectors and Considerations: Advocates for sustainable practices in fishing and aquaculture to prevent overfishing and habitat destruction, promoting small-scale fisheries and eco-friendly aquaculture methods. Calls for the maritime transport sector to transition to low/zero-carbon fuels and technologies and the establishment of Marine Protected Areas to offset extractive activities.

Government Initiatives to Boost the Blue Economy in India

• Maritime India Vision 2030: Formulated as a comprehensive strategy, Maritime India Vision 2030 concentrates on advancing India’s maritime domain by modernising ports, fostering the development of coastal communities, and ensuring the sustainable utilisation of marine resources. Its objective is to establish India as a leading global maritime centre by the year 2030.
• Blue Economy 2.0: A recent development, Blue Economy 2.0 evolves from the earlier Blue Economy paradigm. It concentrates on nurturing a regenerative, sustainable, and inclusive Blue Economy that harmonises economic advancement with environmental preservation and social justice. The government is aligning its policies and initiatives with this novel vision.
• Integrated Coastal Zone Management (ICZM): India has embraced the Integrated Coastal Zone Management (ICZM) approach to holistically manage its coastal regions. This approach involves orchestrating diverse stakeholders and amalgamating environmental, social, and economic factors to ensure the sustainable progress of coastal areas.
• Deep Ocean Mission: Commenced in 2021, the Deep Ocean Mission is geared towards exploring the depths of the ocean for resources and advancing deep-sea technologies. It encompasses initiatives concerning deep-sea mining, provision of ocean climate change advisory services, and the development of underwater vehicles and robotics.
• Pradhan Mantri Matsya Sampada Yojana: A flagship initiative, the Pradhan Mantri Matsya Sampada Yojana aims at elevating fish production and productivity, fortifying fisheries infrastructure, and promoting sustainable and responsible fishing methods. Its overarching goal is to double the income of fishermen and fish farmers by the year 2024.

Download Yojna daily current affairs eng med 4th May 2024

Prelims practise question

Q1. What does the Integrated Coastal Zone Management (ICZM) approach involve?

(a) Modernising ports and coastal infrastructure

(b) Orchestrating diverse stakeholders for sustainable coastal management

(c) Expanding offshore oil drilling activities

(d) Promoting industrialisation along coastal areas

Answer: B

Mains practise questions

Q1. Assess the potential impact of the Deep Ocean Mission on India’s marine resource exploration and technological advancements in deep-sea mining.

Q2. Discuss the significance of the Regenerative Blue Economy in addressing global challenges such as climate change and biodiversity loss.

Himanshu Mishra

I am a content developer and have done my Post Graduation in Political Science. I have given 2 UPSC mains, 1 IB ACIO interview and have cleared UGC NET JRF too.