Ocean Solutions that Benefit People and the Economy
Published by Oceanpanel.org
Why is this report on our Hub?
The Ocean is an invaluable resource that provides livelihoods and food security for many people who live along the coastline. However, the ocean is not only influenced by what happens directly next to it, but is also affected by activities that occur inland by releasing fertilisers and effluent into rivers, dams and other bodies of water.
Weeva thinks this report is valuable because it emphasises the important role that the ocean plays in our lives, by providing up to half of the oxygen that we breathe, reducing the impact of global warming and regulating temperature. The ocean has an invaluable role to play in food security, travel and tourism and our economy when goods are shipped. We bear a collective responsibility to take care of the ocean and its resources.
More than 40% of the world’s population lives within 150 kilometres of the ocean, and hundreds of thousands of people visit it every year. About 90% of the world’s goods are traded on the ocean. It is estimated that the ocean economy adds $1.5 trillion to the global economy per year. The executive summary of Ocean Solutions that Benefit People and the Economy emphasises the economic value that the ocean adds to the global economy, and the possible value that it is able to add in terms of energy production, mitigations for climate change, and improving food security through sustainable aquaculture. The report focuses on the three Ps of Effective Protection, Sustainable Production, and Equitable Prosperity, encouraging coastal communities to work together to protect coastal resources to prevent illegal resource extraction and to take care of the ocean through active rehabilitation and restoration initiatives. The report also explores solutions to our problems to alleviate the pressures on ocean habitats.
Read the report: Ocean Solutions that Benefit People, Nature and the Economy – WRI Ocean Panel
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