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The Ocean Economy in 2030

image of The Ocean Economy in 2030

This report explores the growth prospects for the ocean economy, its capacity for future employment creation and innovation, and its role in addressing global challenges. Special attention is devoted to the emerging ocean-based industries in light of their high growth and innovation potential, and contribution to addressing challenges such as energy security, environment, climate change and food security.

 

The report examines the risks and uncertainties surrounding the future development of ocean industries, the innovations required in science and technology to support their progress, their potential contribution to green growth and some of the implications for ocean management.  Finally, and looking across the future ocean economy as a whole, it explores possible avenues for action that could boost its long-term development prospects while managing the use of the ocean itself in responsible, sustainable ways.

 

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Towards integrated ocean management

This chapter takes a longer term forward view of the challenges facing ocean management and some of the opportunities that are emerging which may help address those challenges. It begins with a brief overview of the implications of growing geopolitical multipolarity and institutional fragmentation for governing the high seas before turning its attention to the management of the ocean in exclusive economic zones (EEZs). Here, the problems present themselves differently, since it is individual governments that are generally responsible for resources and human economic activity in EEZs. Nonetheless, it is only recently that national strategic policy frameworks for managing national waters and seabed have begun to take shape, and that integrated ocean management has gathered noticeable momentum. Moreover, management of the marine EEZ is fraught with difficulties that are hampering its effective implementation. The chapter suggests three pathways to the urgent improvements required: better integration of economic analysis and economic tools; innovation in governance structures and processes; and greater use of science and technology, in particular in gathering better data.

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