Harnessing Blue Economy Potential for Sustainable Development: Navigating Opportunities and Challenges

Authors

  • Farhanaz Luna Assistant Professor, Department of Business Administration, Fareast International University, Dhaka, Bangladesh

DOI:

https://doi.org/10.18034/gdeb.v13i1.768

Keywords:

Blue Economy, Sustainable Development, Ocean Resources, Marine Ecosystems, Sustainable Investment, Coastal Tourism

Abstract

The blue economy, an innovative approach to sustainable development, holds the potential to transform our world. It emphasizes the responsible use of ocean resources to foster economic growth, improve livelihoods, and preserve marine ecosystems. This paper delves into the multifaceted aspects of the blue economy, exploring its potential as a catalyst for global prosperity. By analyzing successful case studies, policy frameworks, and technological advancements, this research examines how the blue economy can be harnessed to address pressing challenges such as climate change, poverty alleviation, and food security. Furthermore, the paper highlights the importance of international collaboration, innovative technologies, and policy coherence in maximizing the benefits of the blue economy. Through a comprehensive analysis of the blue economy's current state and future prospects, this study provides valuable insights for policymakers, researchers, and stakeholders, emphasizing the need for sustainable practices to ensure a harmonious coexistence between humanity and the oceans.

Downloads

Download data is not yet available.

References

Agardy, T., Christie, P., & Day, J. C. (2011). Resilience implications of policy responses to fisheries collapses. Ambio, 40(3), 322-333.

Asian Development Bank. (2020). The role of ocean finance in transitioning to the Blue Economy in Asia and the Pacific. Development Asia.

Bangladesh Ministry of Planning. (2016). Seventh Five-Year Plan (2016-2020). Government of the People's Republic of Bangladesh.

Barbier, E. B. (2012). Progress and challenges in valuing coastal and marine ecosystem services. Review of Environmental Economics and Policy, 6(1), 1-19. DOI: https://doi.org/10.1093/reep/rer017

Chircop, A., & Coffen-Smout, S. (2014). Beyond the limits of the land: Maritime security and the legal regime for the delimitation of maritime boundaries. Marine Policy, 43, 287-297.

Costanza, R., de Groot, R., Sutton, P., van der Ploeg, S., Anderson, S. J., Kubiszewski, I., & Turner, R. K. (2017). Changes in the global value of ecosystem services. Global Environmental Change, 26, 152-158. DOI: https://doi.org/10.1016/j.gloenvcha.2014.04.002

Froese, R., & Pauly, D. (2019). Fishery reform slips through the hands of EU fisheries ministers. Marine Policy, 99, 266-269.

Levin, N., Lechner, A. M., Brown, G., Mörtberg, U. M., & Radeloff, V. C. (2017). Place prioritization for biodiversity content using species ecological niche modeling. Environmental Management, 59(5), 874-893.

Pelletier, D., Coates, J., & Thilsted, S. H. (2018). An integrated approach to increasing small-scale fishery productivity and adaptive capacity in the face of climate change. Food Security, 10(2), 415-429.

Voyer, M., Gladstone, W., Goodall, H., & Riginos, C. (2020). The role of community involvement in conservation success through adaptive governance in marine protected areas. Aquatic Conservation: Marine and Freshwater Ecosystems, 30(8), 1545-1556.

Downloads

Published

2024-06-30

How to Cite

Luna, F. (2024). Harnessing Blue Economy Potential for Sustainable Development: Navigating Opportunities and Challenges. Global Disclosure of Economics and Business, 13(1), 21-30. https://doi.org/10.18034/gdeb.v13i1.768

Similar Articles

21-30 of 67

You may also start an advanced similarity search for this article.