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Issue No:85
  • :0976 1121
  • :May
  • :2021

Samudra Report No.85, May 2021

 

Economy / Oceans

Blue Gold

A study illustrates the deep influences that guide the gilded ocean economy: just 100 companies generated 60 per cent of revenues from the largest ocean-based industries in 2018


This article is by John Virdin (john.virdin@duke.edu), Duke University Nicholas Institute for Environmental Policy Solutions, Durham, North Carolina, United States and Henrik Österblom(henrik.osterblom@su.se), Stockholm Resilience Centre, Stockholm University, Stockholm, Sweden


The promise and potential of the ocean as an ‘economic frontier’ in the 21st century has attracted attention from governments, the private sector, philanthropies and civil society. Often, this is in pursuit of a ‘blue economy’ that is defined in different ways. This aspiration reflects, at least partially, a rapid ‘blue acceleration’ over the last two decades in economic activity linked to the oceans.

Consider: since 2000 almost
1 million km of submarine fiberoptic cables have been buried in the seabed to carry almost all international digital information; the annual volume of cargo transported by container shipping has quadrupled; the offshore wind energy capacity installed has increased 400 times over; the number of passengers carried on cruise tourism boats has almost tripled;...

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