Blue economy impact of development of Bangladesh

Blue Economy offers a suite of opportunities for sustainable, clean, equitable blue growth in both traditional and emerging sectors;

Shipping and Port Facilities: 80 percent of global trade by volume, and over 70 per cent by value, is carried by sea and handled by ports worldwide. For developing countries, on a national basis, these percentages are typically higher. World seaborne trade grew by 4% in 2011, to 10.7 billion tonnes by 20172and container traffic is projected to triple by 20303. Coastal countries need to position themselves in terms of facilities and capacities to cater for this growing trade and optimise their benefits. Shipping is the safest, most secure, most efficient and most environmentally sound means of bulk transportation – with declining rates of accidents, terrorist incidents, improving turnaround of ships and significant reductions in discharges to sea or emissions to air. Much of these advances have been made possible as a result of IMO’s regulations, industry initiatives and technological developments; by helping to build technical maritime capacity in developing countries, where some 70%-75% of the world’s merchant fleet is now registered.

Fisheries: The world has elevated recognition of the essential role of fisheries and aquaculture for food security and nutrition in the context of climate change and employment of millions of people, many of whom struggle to maintain reasonable livelihoods, especially in the developing world. Total fish production in 2016 reached an all-time high of 171 million tonnes, of which 88 percent was utilized for direct human consumption, thanks to relatively stable capture fisheries production, reduced wastage and continued aquaculture growth. This production resulted in a record-high per capita consumption of 20.3 kg in 2016. The sector’s contribution to economic growth and the fight against poverty is growing. Strengthened demand and higher prices increased the value of global fish exports in 2017 to USD 152 billion, 54 percent originating from developing countries4.

The United Nations’ 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals (SDGs) offer a unique, transformative and integrative approach to shift the world on to a sustainable and resilient path that leaves no one behind. Food and agriculture are key to achieving the entire set of SDGs, and many SDGs are directly relevant to fisheries and aquaculture, in particular SDG 14 (Conserve and sustainably use the oceans, seas and marine resources for sustainable development).Human activity has directly and markedly reduced ocean productivity; additional deficits may be due to climate change increasing ocean stratification and reducing nutrient mixing in the open seas. Global Ocean Observing System (GOOS) and LME assessments show significant warming trends from which model projections 2040-2060 forecast a steady decline in ocean productivity5. The implementation of sound management measures brings the promise of increased sustainable catches, lower energy utilization and costs; thereby securing livelihoods and enhancing food security.

Aquaculture: Aquaculture is the fastest growing global food sector now providing 47% of the fish for human consumption Global fish production peaked at about 171 million tonnes in 2016. The total first sale value of fisheries and aquaculture production in 2016 was estimated at USD 362 billion, of which USD 232 billion was from aquaculture production6. Between 1961 and 2016, the average annual increase in global food fish consumption (3.2 percent) outpaced population growth (1.6 percent) and exceeded that of meat from all terrestrial animals combined (2.8 percent). In per capita terms, food fish consumption grew from 9.0 kg in 1961 to 20.2 kg in 2015, at an average rate of about 1.5 percent per year. In 2015, fish accounted for about 17 percent of animal protein consumed by the global population.

Despite their relatively low levels of fish consumption, people in developing countries have a higher share of fish protein in their diets than those in developed countries. Global capture fisheries production was 90.9 million tonnes in 2016, a small decrease in comparison to the two previous years7. Aquaculture with fed species, if not managed properly, can impact biodiversity and ecosystem functions through excessive nutrient release, chemical pollution and the escape of farmed species and diseases into the natural environment. Aquaculture under the Blue Economy will incorporate the value of the natural capital in its development, respecting ecological parameters throughout the cycle of production, creating sustainable, decent employment and offering high value commodities for export.

Tourism: Marine and coastal tourism is of key importance to many developing countries. Tourism is a major global industry; International tourist arrivals grew 7.0% in 2017, the highest increase since the 2009 global economic crisis and well above UNWTO’s longterm forecast of 3.8% per year for the period 2010 to 2020. A total of 1,326 million international tourist arrivals were recorded in destinations around the world, some 86 million more than in 2016.In addition to the US$ 1,340 billion in tourism receipts earned in the destinations (the travel item of the Balance of Payments), international tourism generated another US$ 240 billion from international passenger transport services rendered to non-residents8.Total exports from international tourismtherefore reach US$ 1.6 trillion, or US$ 4 billion a day on average. As a worldwide export category, tourism ranks third after chemicals and fuels and ahead of automotive products. In many developing countries, tourism is the top export category9. Higher education courses need to deliver a solid grounding in the specific skills needed to maintain and increase market share in a discerning and competitive global market.

Energy: In 2018 offshore fields accounted for more than 33% of worldwide crude oil production and this is projected to rise to 34% in 202510 and higher subsequently, as almost half the remaining recoverable conventional oil is estimated to be in offshore fields  - a quarter of that in deep water11. While offshore oil production has been relatively stable since 2000, natural gas output from offshore fields has risen by more than 50% over the same period. Offshore electricity generation, mainly from wind, has increased rapidly in recent years.Offshore wind is a rising force, but remains for the moment a relatively marginal one at 0.2% of global electricity generation; wind and other marine technologies face stiff competition from a range of onshore options, including other low-carbon sources of generation.

Deep water oil drilling is not new, but market pressures are making the exploration for and tapping of evermore remote reserves cost effective, bringing the most isolated areas under consideration. Methane hydrates, a potentially enormous source of hydrocarbons, are also being explored and tapped from the seabed. Oil will remain the dominant energy source for many decades to come but the Ocean offers enormous potential for the generation of renewable energy – wind, wave, tidal, biomass, and thermal conversion and salinity gradients.  Of these the offshore wind energy industry is the most developed of the ocean based energy sources. Global installed capacity was only a little over 6 GW in 2012 but this is set to quadruple by 2014 and relatively conservative estimates suggest this could grow to 175 GW by 203512.

 

Biotechnology and marine genetic resources: Biotechnologymarket size will reach USD 775.20 billion by 202413. Rising prevalence of chronic diseases have increased the demand for innovations similar to DNA sequencing, micro assays and recombinant DNA technologies to develop therapeutic solutions. Food scarcity in highly populated countries of India and China have resulted in urgent need for high yielding crop varieties through agricultural technologies. Researchers across the globe are developing GM crops to address the concern of limited land availability, inconsistent rainfall and pest attacks and produce high yielding crops that can sufficiently feed the growing population. Marine biotech has the potential to address a suite of global challenges such as sustainable food supplies, human health, energy security and environmental remediation.

Marine genetic resources like bacteria are a rich source of potential drugs. In 2017 there were over 36 marine derived drugs in clinical development, including 15 for the treatment of cancer. One area where marine biotech may make a critical contribution is the development of new antibiotics14. The potential scope is enormous, by 2017 more than 14,000 novel chemicals had been identified by marine bio prospecting and 300 patents registered on marine natural products15. The unexplored and understudied nature of much of the underwater world means that the capacity of marine organisms other than fish and shellfish to provide inputs to the blue economy is only just beginning to be appreciated, partly through new gene sequencing technologies for living organisms.

There have already been successes. The anti-viral drugs Zovirax and Acyclovir were obtained from nucleosides isolated from Caribbean sponges. Yondelis, developed from small soft-bodied marine animals was the first drug of marine origin to fight cancer. In the next stage, around 20-25 years from now and subject to technological breakthroughs, the blue biotechnology sector could become a provider of mass-market products, together with a range of high added value specialised products.

Submarine mining: The world is gearing up for the exploration and exploitation of mineral deposits on and beneath the sea floor. Industry, due to rising commodity prices, is turning its attention to the potential riches of polymetallic nodules, cobalt crusts and massive sulphide deposits; the latter a source of rare earth elements, such as yttrium, dysprosium and terbium, important in new ICT hardware and renewable energy technologies. Commercial interest is particularly strong in polymetallic nodules and in seafloor massive sulphides. The International Seabed Authority has developed the Mining Code regulations16 to meet these changing circumstances and has commenced issuing licenses for the exploration of the international sea floor.

Coastal countries need to prepare themselves to ensure they realise optimal benefits from resources in their own EEZs and likewise that their concerns are incorporated into the measures to manage the coming race for the riches of the seabed.  The exploitation and mining of minerals, other than sand and gravel, from the sea have just started. By 2020, 5% of the world's minerals, including cobalt, copper and zinc could come from the ocean floors. This could rise to 10% by 2030. Global annual turnover of marine mineral mining can be expected to grow from virtually nothing to €5 billion in the next 10 years and up to €10 billion by 2030. It may also become economically feasible to extract dissolved minerals, such as boron or lithium, from seawater. The most promising deposits are found in metallic sulphides which emerge from hydrothermal ore deposits (such as 'black smokers') in volcanically active zones.

The temperatures and pressures in these regions are extreme and the impact of disturbance on these hot spots of marine biodiversity, which under the UN Convention on the Law of the Sea (UNCLOS) should be protected, is largely unknown. However there are opportunities outside jurisdictional marine areas. In these areas, the International Seabed Authority (ISA) is responsible for organizing and controlling activities, including monitoring all mineral-related activities. Their continued competitiveness depends on access to finance in an inherently risky market, targeted research and development in extraction techniques, the ability to obtain licences in international waters and robust measures to avoid harming unique ecosystems.