Ecosystems Mitigating Climate Change

Developing the Blue Economy

Healthy oceans are critical to the planet’s well-being, yet a growing number of natural- and human-induced threats to this precious resource continue unabated. There is an increasing consensus on the need to stem this ecocide and nurture the blue economy to health. The blue economy projects could be from a range of sub-sectors, including fisheries, ocean and ecology conservation, waste management, ports and shipping, tourism, etc. If treated as a country, it is estimated that the ocean economy would be the 7th largest in the world, worth 24 trillion USD, and the market value of coastal, marine resources and related industries is an estimated USD 2.5 trillion .

The Civitavecchia Port of Rome is the Mediterranean's largest seaport, with over 2000 ferries and cruise liner calls and nearly 2 million passengers annually. It also houses biodiversity hotspots, marine habitats and various types of human activities—lots of conflicting interests!

On September 8th, Fondazione CMCC is hosting a webinar to test a new methodology that aims to help mitigate conflicts of use by quantifying ecosystem services, compensation measures, and species impacted or lost by coastal engineering activities.

Nancy Knowlton, a coral reef biologist at the Smithsonian National Museum of Natural History says, many marine conservation efforts around the globe are seeing good results.

“There are a lot of successes out there, and most people don’t know about them,” Knowlton says. It’s important to share those successes, she adds, to avoid paralyzing feelings of hopelessness and to spread the knowledge of approaches that work.

Read more for some glimpses of a few bright spots in the pitched battle for the blue planet.

"Some of the world’s largest companies have a direct stake in the viability of the ocean as a resource," says Katherine Garrett-Cox, CEO of GIB Asset Management, part of Gulf International Bank.

"The aggregate total debt outstanding of the ‘Ocean 100’ – the largest companies operating in the ocean industry – amounts to circa $1.8trn. In aggregate, 42% of these companies show improving ESG scores, suggesting a significant opportunity for refinancing through sustainability-linked debt, which can offer lower financing costs to borrowers that improve their sustainability scores over time. This has the potential to create a virtuous cycle of improvements."

Thriving mangroves are critical to the future of many of the world’s most vulnerable coastal communities. Rich in biodiversity, they serve as nursery grounds for fish and shellfish, while their roots act as a filter for sediment, cleaning up waterways. One of the planet’s most carbon-rich ecosystems, mangroves also provide natural protection from storm surges and flooding, whose severity is being exacerbated by climate change.

What's the difference between Biodegradable and Compostable?