What is the blue economy? Meaning and blue economy initiatives

In recent years, there has been a growing awareness of the fragility of marine ecosystems, prompting governments, businesses, and citizens to rethink how they interact with the sea. The blue economy, or blue economy, was born precisely from this need: to develop an economic model capable of optimally combining growth, innovation, and sustainability, while responsibly using ocean resources.

In a world where over 70% of the surface is covered in water and billions of people depend on the sea for their livelihoods, building an economy based on healthy oceans is a real imperative. But what does the blue economy really mean? What are its origins, objectives, and concrete applications? Let’s delve into the details and see everything there is to know.

What is the Blue Economy: Meaning and Definition

The blue economy, also known as the blue economy, is an economic model that promotes the sustainable use of oceans, seas, and coastal resources. The term Blue Economy refers to:

"A proposal for a global economic development model that draws on the principles of the green economy, strengthening its objective, up to the complete elimination of carbon dioxide emissions, by exploring new production techniques and improving existing ones."

The goal is to generate economic growth and employment, while ensuring the health of marine ecosystems. This is not just about protecting the environment, but also about the need to pay attention to the relationship between economic development and the marine environment, introducing innovative practices in the sectors of fishing, tourism, shipbuilding, marine renewable energy, and biotechnology.

In practice, the aim is to implement an approach aimed at balancing human needs with the regenerative capacity of ocean ecosystems, avoiding the overexploitation of natural resources. It is, in effect, a sort of extension of the concept of sustainable economy, but applied to the marine world.

A Brief History of the Blue Economy: From Birth to Current Regulations

The modern concept of the blue economy was introduced in 2010 by Belgian economist Gunter Pauli with the book "Blue Economy: 10 Years, 100 Innovations, 100 Million Jobs". Its roots, however, date back much earlier, to the 1990s, as a sort of evolution of the concept of the green economy. Concepts and activities that today fall under the definition of the blue economy were already active in the decade in question, despite not being grouped under this specific label. In this regard, it is interesting to note that, precisely because of its importance, the blue economy has become an increasingly integral part of international policies over the years.

In particular, the European Union launched the Blue Growth Strategy in 2012. This placed an emphasis on innovation and sustainable development in the maritime sectors. Furthermore, at the global level, Goal 14 of the UN 2030 Agenda promotes the conservation and sustainable use of oceans, seas, and marine resources. Furthermore, in recent years, increasingly stringent regulations have been introduced to protect marine heritage, including regulations on fishing, single-use plastics, and marine waste management.

Blue Economy Objectives

The blue economy objectives are many and varied, including building a sustainable economy, technological innovation, and protecting marine biodiversity. Specifically, the blue economy aims to develop an integrated growth model capable of combining economic development, social inclusion, and environmental protection, with particular attention to marine and coastal ecosystems. Some of the key points are outlined below.

• Promote sustainable economic growth in marine-related sectors. One of the primary objectives of the blue economy is to foster economic growth that does not compromise the health of marine ecosystems. In practice, this aims to stimulate development in traditional sectors such as fishing, maritime transport, and coastal tourism, as well as in emerging fields such as the marine bioeconomy, offshore energy, and underwater robotics, while ensuring the responsible use of natural resources.
• Create jobs. According to estimates by the OECD (Organization for Economic Co-operation and Development), the blue economy could generate over 40 million jobs globally by 2030. The expansion of sustainable maritime activities can offer lasting employment opportunities, especially in often marginalized coastal areas, helping to reduce inequalities and strengthen local economies.
• Protect marine ecosystems, improve biodiversity, and reduce pollution. A key principle of the blue economy is the protection of marine ecosystems. This includes the conservation of coastal habitats such as coral reefs, combating overfishing, combating plastic pollution, and improving water quality. Safeguarding marine biodiversity is not only an ethical imperative, but also a key prerequisite for long-term economic resilience.
• Foster the energy transition through marine resources. The blue economy aims for a cleaner energy system by investing in marine renewable sources, such as offshore wind, wave energy, marine currents, and ocean thermal energy. These technologies, still expanding, represent a concrete alternative to fossil fuels and can significantly contribute to reducing greenhouse gas emissions.
• Support research, innovation, and digitalization. Technological innovation is a cross-cutting element that supports the entire blue economy. Investing in scientific research and digital technologies, such as underwater sensors, artificial intelligence applied to environmental monitoring, and marine drones, enables the development of intelligent, low-impact solutions, essential for the monitoring and sustainable management of maritime activities.

All of these objectives, as is easy to imagine, converge towards a circular economy model that enhances marine resources without compromising their future. The blue economy therefore represents not only a challenge, but also a concrete opportunity to rethink our relationship with the sea in a sustainable, equitable, and innovative way.

Concrete Examples of the Blue Economy

There are already several virtuous examples of the blue economy around the world, including the following.

• Norway has developed a sustainable aquaculture system based on digital technologies and AI to monitor the health, nutrition, and environmental impacts of farmed fish.
• Netherlands has been investing for years in sustainable coastal engineering solutions, such as natural seawalls and barriers that protect against storm surges without damaging the ecosystem.
• Kenya has been undergoing marine reforestation projects for years, planting mangroves that absorb CO₂, protect the coast, and provide habitat for local wildlife.
• Italy has launched circular economy programs for waste recovery and energy production from marine renewable sources.

Current initiatives around the world

Several blue economy initiatives are currently active, both nationally and internationally. One example is the Mission “Restore Our Ocean and Waters”, part of the Horizon Europe program. This initiative aims to restore the health of aquatic ecosystems by 2030 through research, innovation, and international collaboration. Also of particular interest is the Ocean Panel, which presents itself as a coalition of 18 nations that "are working together to catalyze and implement ocean solutions worldwide."

As is readily apparent, several initiatives fall within the scope of the blue economy. All of these are aimed at providing a concrete response to the climate crisis and the need for a more just and sustainable economic model. This approach must involve all of us, in order to protect the marine ecosystem and, consequently, ensure a sustainable future for future generations.

Original article published on Money.it Italy. Original title: Cos’è la blue economy? Significato e iniziative di economia blu