The ocean economy is valued at US$3-6 trillion annually. Its governance impacts connectivity, renewable energy, fisheries, transport, and tourism. However, challenges abound for coastal communities and island states: climate change, debt pileups, and the loss of livelihoods. Growth in the blue economy must come with minimal harm to the ecology—particularly for coastal communities and fisheries facing climate impacts and overexploitation. This panel will discuss strategies to balance prosperity and sustainability, ensuring economic growth aligns with environmental preservation and long-term viability.
What innovative financial mechanisms can incentivise sustainable practices in the ocean economy, particularly for vulnerable coastal and fishing communities? How can we balance growing demand for marine resources with urgent need to conserve biodiversity and protect vulnerable habitats? How can international cooperation and North-South partnerships be strengthened to address transboundary ocean challenges and shared responsibilities? What are the policy interventions needed to promote a sustainable blue economy that addresses the interconnected crises of debt, climate change, and livelihoods?
Speakers:
- Axel Berger, Deputy Director (Interim), German Institute of Development and Sustainability, Germany
- Kekeli Ahiable, Trade and Infrastructure Advisor, Tony Blair Institute for Global Change, United Kingdom
- Teenah Jutton, Former Member of Parliament, Mauritius
- Thilan Wijesinghe, Chairman & Managing Director, TW Corp (Pvt) Ltd, Sri Lanka
- Suthikorn Kingkaew, Advisor, Hydrogen Economy Project, Energy Policy and Planning Office, Thailand
- Moderator Ambika Vishwanath, Director, Kubernein Initiative, India
Originally published by Observer Research Foundation in March 2025.
