All around the world, countries are looking to transition to a 'green' economy that is low in carbon, socially inclusive and resource efficient. In its simplest form, 'green' has become short for a sustainable social, environmental and economic future.
While the world's attention has been caught by the direct terrestrial implications of the green agenda, the 'blue economy' has not been prioritized to date. The 'green' economy should include the sustainable use of oceanic resources, but the pivotal role of the oceans in limiting temperature rises and stimulating socioeconomic development has been comparatively absent from the transition towards a green global economy.
The 'blue economy' is central to the green ecosystem: oceans influence all natural cycles and are also directly or indirectly involved with all economic sectors. Oceans produce up to 80 percent of the oxygen we breathe, while nearly 40 percent of the world's population depend on marine and coastal biodiversity for their livelihoods. For these reasons, the 'blue' component of the 'green' transition to a more sustainable global economy cannot be overlooked.
In this report, we consider how leading corporates and investors can take action to capture the value that can be found in a healthy, sustainable ocean economy. We discuss the importance of the oceans to 'green' business ambitions, including:
- The basics of the blue economy and its contribution to the green agenda.
- The issues around sustainable management, such as ownership, accountability, visibility and development.
- The opportunities for business leaders to bridge the governance gap and capture the significant growth opportunities that can be found in the protection, preservation and promotion of the blue economy.
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Chief Executive Officer
KPMG in Bermuda
Partner, Head of Advisory, and Sector Lead, Insurance
KPMG in Bermuda