Thursday
May 31
2018

Report: Innovative financing and regional dialogue are central for a thriving ‘blue economy’

By Radha Kulkarni

The concept of ‘blue economy’ is gaining momentum. It is all about using ocean resources for economic growth, improved livelihoods and jobs, while preserving ocean and coastal ecosystem health. It includes economic activities, such as sustainable marine energy, sustainable fisheries, better management of ocean waste and ocean-related eco-tourism. The blue economy holds great potential for coastal communities around the world. Take for example, the Caribbean.

At the Board of Governors Meeting of the Caribbean Development Bank (CDB), 30-31 May 2018, the focus is on resilience, against the backdrop of one of the most devastating hurricane seasons the Caribbean region has experienced in recent history. As a contribution to the meeting, CDB and UNDP have partnered on a report to spark dialogue around the ways in which Caribbean countries can build resilience by adopting a ‘blue economy’ approach to development. The report identifies the financial challenges in the region, highlights innovative financing options that could be tested, and discusses policy and regulatory enablers to advance blue economy strategies at national and regional level.

Photo courtesy of Ron Kroetz.

Source: UNDP (link opens in a new window)

Categories
Environment
Tags
development finance, economic development, economy, environment, global development, Global Goals, oceans, sustainability