There is no set definition for “blue growth” or “blue economy”.
However, there are core aspects that are common to the understanding of the concept by the international community. It looks at combining the concern for the marine environment and coastal ecosystems with the idea that some ocean-related industries or “blue” business sectors have the potential to be expanded.
Photo: Mamadou Aliou Diallo/REJOPRA
“Small-scale fisher communities are the most vulnerable group in this competitive environment. It is therefore imperative that governments recognise the inevitable conflicts and vulnerabilities that growth produces””
The wrong premises
There are four broad assumptions made by the “blue growth” proponents:
Decoupling growth from ecological degradation: the world can accelerate growth while reducing greenhouse emissions and natural resource depletion
Financialization: public funds are inadequate to fund such a costly transition and therefore, there is a need to attract private capital
Payment for ecosystem services: oceans are natural capital and provide services for the economy
Inclusive growth: there is a triple win. Blue growth is beneficial for the environment, for the development of the poorest and for investors
Is Blue Growth incompatible with securing Small-scale Fisheries?
Six areas of concern for the artisanal fish value chain
CONSERVATION FINANCE
Conservation finance has become dominant in the efforts to avert the climate crisis and reverse biodiversity loss. While the proponents present an ambitious vision, understanding the jargon is difficult. There is a pressing need for clarity over what this industry is doing. Check our series of articles.
what are we doing?
We believe Blue Growth’s “win-win-win” narrative is fallacious and is not compatible with securing sustainable small-scale fisheries.
We concur with the worries of African artisanal fisheries about the potential threats by the sectors of Blue Growth to coastal communities;
We support their demand for the creation of national action plans for the implementation of the FAO Voluntary Guidelines for Securing small-scale fisheries; and
We also support the work of African journalists who document conflict of interest cases, especially where the local communities have been excluded from the decision-making processes.
latest publications on blue growth
Closing the funding gap for biodiversity conservation is one of the critical topics at COP 16 in October 2024. The funding gap has been estimated at $700 billion in Goal D of the Kunming-Montreal Agreement, based on a report, “Financing Nature”, published in 2020. Taking the example of fisheries and ocean conservation, this article shows the $700 billion figure is based on highly dubious calculations and assumptions. The author argues the funding gap report is not a serious effort to estimate the needs for supporting conservation efforts. Therefore, the $700 billion figure should be rejected by those opposed to the continuing financialisation of conservation.