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Rethinking Innovation for a Sustainable Ocean Economy

image of Rethinking Innovation for a Sustainable Ocean Economy

This new OECD report on the ocean economy emphasises the growing importance of science and technologies in improving the sustainable economic development of our seas and ocean. Marine ecosystems sit at the heart of many of the world’s global challenges: food, medicines, new sources of clean energy, climate regulation, job creation and inclusive growth. But we need to safeguard and improve the health of marine ecosystems to support our ever-growing use of marine resources. Innovation in science and technology will play a key role in reconciling these two objectives. This report identifies three priority areas for action based on a number of in-depth case studies: 1) approaches that produce win-win outcomes for ocean business and the ocean environment across a range of marine and maritime applications; 2) the creation of ocean-economy innovation networks; and 3) new pioneering initiatives to improve measurement of the ocean economy.

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Innovative approaches to measuring the ocean economy

Realising the full potential of the ocean demands responsible, sustainable approaches to its economic development. And in order to better manage the ocean, decision-makers need ever more reliable data to inform their actions and evidence-based policies. This requires a good understanding of what the ocean economy represents and how its multifaceted activities may link with the overall economy. This chapter explores new approaches to measuring the ocean economy, notably by highlighting the use of satellite accounts for its twin pillars - ocean-based economic activities and marine ecosystem services - and by examining ways to better measure the benefits that sustained ocean observations provide not only to science, but to the economy and society more generally.

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