02-May-2024-Special-Article

NEW IUCN REPORT SHOWS WAY TOWARD REGENERATIVE BLUE ECONOMY 

The International Union for Conservation of Nature (IUCN) has published a report presenting a blueprint for a Regenerative Blue Economy (RBE), seeking to surpass conventional sustainability strategies by actively rejuvenating and revitalizing ocean ecosystems. 

This approach represents a paradigm shift in ocean governance, emphasizing the protection and regeneration of marine and coastal ecosystems while promoting sustainable economic activities.  

Key Highlights of the Report: 

Hierarchy of Blue Economy: 

• Ocean/Brown Economy: Traditional marine sectors focused solely on economic activities. 
• Sustainable Blue Economy: Incorporates environmental sustainability and ecosystem protection. 
• Regenerative Blue Economy: Aims to actively restore and revitalize marine ecosystems, emphasizing low or no carbon economic activities and inclusive economic systems. 

Founding Principles of RBE: 

• Protection and Restoration: Prioritize the regeneration and protection of marine ecosystems to combat climate change and biodiversity loss. 
• Inclusive Economic System: Ensure fairness, inclusion, and solidarity within the economic system, supporting well-being and resilience. 
• Inclusive and Participatory Governance: Establish transparent and participatory governance mechanisms, integrating flexible legal and regulatory frameworks. 
• Low or No Carbon Activities: Promote low-carbon economic activities that positively impact marine ecosystem regeneration. 

Spectrum of Sustainability: 

• RBE represents the most ambitious and restorative approach within the Blue Economy concept, moving beyond traditional sustainability measures. 

Principles of Blue Economy: 

• Common themes include ecosystem health, sustainability, inclusivity, and good governance, as proposed by various organizations. 

Blue Carbon and Nature-based Solutions: 

• Blue Carbon refers to carbon stored in coastal and marine ecosystems, playing a crucial role in mitigating climate change. 

• Valuing coastal ecosystem services like carbon sequestration is essential for promoting sustainable economies. 

Key Sectors and Considerations: 

• Sustainable fishing and aquaculture, transition to low/zero-carbon maritime transport, establishment of Marine Protected Areas (MPAs) to compensate for extractive activities. 

Connections to Other Approaches: 

• Integration of Blue Economy principles with circular economy, bioeconomy, and Social and Solidarity Economy (SSE) to promote sustainable development. 

Blue Carbon: 

Carbon stored in coastal and marine ecosystems, such as mangroves, tidal marshes, and seagrass meadows. 

• Significance: Crucial carbon sinks that play a significant role in mitigating climate change and contribute to emissions reduction targets. 
• IUCN Involvement: Engages in Blue Carbon initiatives through financing facilities and accelerator funds, supporting investment-based projects with ecosystem service benefits. 
• Initiatives: Example of Blue Carbon initiatives includes extensive shrimp farming and mangrove protection in Indonesia, showcasing revenue generation potential. 

Initiatives Promoting Regenerative Blue Economy: 

Global Initiatives: 

• IUCN Nature 2030: Aligns conservation efforts with global biodiversity frameworks and sustainable development goals. 
• Great Blue Wall Initiative: African-led initiative aims to protect critical blue ecosystems and promote a regenerative blue economy. 
• Clean Seas Campaign: Led by UNEP, tackles plastic pollution through reduction measures. 

India Initiatives: 

• Maritime India Vision 2030: Strategic roadmap for the development of maritime sectors. 
• Deep Ocean Mission: Focuses on deep-sea exploration and sustainable resource utilization. 
• Pradhan Mantri Matsya Sampada Yojana: Fisheries sector development program promoting sustainable practices. 
• Integrated Coastal Zone Management (ICZM): Framework for sustainable coastal development and conservation. 

• Blue Economy 2.0: India’s initiative to promote sustainable ocean-based economic activities. 

Mains question: 

1. “Discuss the significance of the Regenerative Blue Economy (RBE) concept in addressing global challenges, with reference to the key principles outlined by the International Union for Conservation of Nature (IUCN).” (150 WORDS)