For centuries, the ocean was considered too vast to fail and its resources so infinite that they could be exploited imprudently. As these assumptions fade and global awareness of the ocean’s tipping point, its finite resources and worsening vulnerability to climate change, pollution and biodiversity loss emerge, the need to address the ocean crisis in the broader context of achieving the Sustainable Development Goals (SDGs) requires urgent integrated approaches and solutions.
This report addresses the current and emerging cross-cutting role of the ocean in advancing economic growth, social inclusion and environmental sustainability. It examines several key and emerging topics for the ocean economy, including the seaweed sector as a lever for a sustainable economic recovery, fisheries subsidies and non-tariff measures, the decarbonization of shipping and maritime supply chains, and plastic litter and other ocean waste challenges.
It explores these issues, identifies the main opportunities and challenges and concludes by offering a bottom-up menu of action-oriented policy recommendations for Small Island Developing States (SIDS) and coastal developing countries. It also calls for a “Blue Deal” on trade and finance to accelerate the implementation of SDG 14 and identify practical yet far-reaching development paths towards a sustainable, resilient and inclusive ocean economy by 2030 and beyond.