Country Economic Memorandum for Sao Tome and Principe - Background Note 15 : Blue Economy and Environmental Resiliency
Oceans are an important source of wealth, at least 3 to 5 percent of global GDP is derived from the oceans, but their overall health is reaching a tipping point. Close to a third of fish stocks are fully fished or overfished, climate change is impa...
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| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/162571562913551840/Sao-Tome-and-Principe-Country-Economic-Memorandum-Background-Note-15-Blue-Economy-and-Environmental-Resiliency http://hdl.handle.net/10986/32091 |
| Summary: | Oceans are an important source of
wealth, at least 3 to 5 percent of global GDP is derived
from the oceans, but their overall health is reaching a
tipping point. Close to a third of fish stocks are fully
fished or overfished, climate change is impacting coastal
and marine ecosystems through a variety of vectors,
unbridled development in the coastal zone is causing
erosion, widespread desalination in semi enclosed seas is
threatening fauna and flora alike, and marine pollution,
particularly from land-based sources is reaching such a
proportion that its impacts cannot even be accurately
measured. The role of healthy oceans in stabilizing climate
and keeping the planet cool is now better understood, and
increasingly given the prominence and visibility it deserves
in the global action arena. It is also known that business
as usual in the different economic sectors associated with
coastal and marine ecosystems will have great environmental
and social impacts, which are expected to disproportionally
affect vulnerable groups of the population, particularly
women and girls. This is reflected in Sustainable
Development Goal (SDG) 14 - Life Below Water, which calls to
conserve and sustainably use the oceans, seas, and marine
resources for sustainable development. In this context, the
concept of the Blue Economy is particularly relevant and
applicable to STP. Different institutions have different
definitions of the Blue Economy, which is understood by the
Bank as the sustainable and integrated development of
oceanic sectors in healthy oceans. There is growing
recognition that overfishing, marine pollution, and coastal
erosion, among other issues, are pushing oceans to a tipping
point to the detriment of the millions who depend on healthy
oceans for jobs, nutrition, economic growth, and climate
regulation. Central to the Blue Economy approach is the
recognition that social benefits should be maximized over
the long-term, ensuring that the economic drivers that
result from the sustainable use of ocean resources are maintained. |
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