US EditionMacron 'avoids' taking on fishing lobby: 'Protection of oceans requires 'ban on destructive fishing'
- The OECD, on March 31, reported that the global ocean economy reached $2.3 trillion in 2020 and doubled in size between 1995 and 2020, predominantly driven by growth in Asia and the Pacific region.
- The expansion of the ocean economy, which supports over 100 million full-time jobs, is attributed to tourism, offshore oil and gas extraction, population growth, environmental pressures, and technological advances.
- The OECD report, released before a high-level summit in Paris and a UN conference in Nice in June, highlights the significant role of the oceans in providing food security, transporting goods, and hosting internet infrastructure.
- The ocean economy, which could be the world's fifth-largest economy if considered a country in 2019, faces intensifying pressures from climate change, environmental degradation, lagging productivity, sluggish digital transformation, territorial disputes, and illegal activities, contributing to a 'dark ocean economy'.
- OECD Secretary-General Mathias Cormann emphasized the urgent need for international cooperation, improved governance, science-based policies, and innovative digital solutions to ensure a sustainable and productive ocean economy and protect the livelihoods and food security of those dependent on it, stating that "Through science-based policy, improved management of marine areas, and progressive digital options, we are able to defend the roles, livelihoods, and meals safety of tons of of thousands and millions of people that depend upon the ocean".
16 Articles
16 Articles
Macron 'avoids' taking on fishing lobby: 'Protection of oceans requires 'ban on destructive fishing'
According to the OECD, oceans need stronger protections and governance to ensure the blue economy can grow fairly and sustainably in the face of climate change, territorial disputes and other threats. The ocean economy expanded to $2.3 trillion in 2020 but various headwinds could hinder future growth, the Organisation for Economic Cooperation and Development said in a new report. For in-depth analysis and a deeper perspective, François Picard we…
OECD warns about the need to protect the ocean, "the fifth world economy"
Using unpublished data analysed over twenty-five years, the international organisation points to the dependence of the economy, from fishing to tourism, to a healthy ocean. And calls on decision-makers to strengthen its governance and to preserve marine ecosystems to reconcile productivity and environmental sustainability.
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