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Commonwealth Blue Economy Series

The marine environment provides valuable economic, social and cultural resources, which can contribute to the sustainable economic development of small island developing states (SIDS) and larger coastal states. Alongside traditionally exploited marine resources, the marine environment also provides human communities with a broad range of essential services that support economic wellbeing and human health. Furthermore, new opportunities have emerged that are gradually being realised, including marine renewable energy and mariculture.

With the growing threats posed by a changing climate, it is increasingly evident that we need to pay more attention to our planet’s oceans. The recent concept of the ‘blue economy’ recognises the need to maximise the enormous economic potential presented by the ocean while preserving it. Since 2012, the blue economy has been embraced by many SIDS as a mechanism for realising sustainable growth around an ocean-based economy. In that time, the idea of the blue economy has emerged as a key component of a new global dialogue about the role of the oceans and seas in sustainable development. For SIDS in particular, the concept of the blue economy presents itself as a promising avenue for economic diversification and growth embedded in fundamental principles of environmental sustainability.

The Commonwealth Blue Economy Series aims to support the development of the blue economy in Commonwealth member countries by providing a high-level assessment of the opportunities available for economic diversification and sustainable growth in SIDS.

English

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