Blue EconomyDecember 10, 2021

The Blue Economy Initiative: Blue Carbon Asset Management

Blue Economy conceptualises Oceans as Development Spaces. We and the coastal communities receive multiple benefits from marine habitats (coastal protection, fish production, tourism etc). But vulnerability, asset management and coastal adaptation are still not well addressed for coastal communities and also have limited financial capacity – which hardly promotes local assets and livelihood enhancement.

Achieving the goal of a successful Blue Economy (BE) in the Indian context requires integrating top-down and bottom-up adaptation planning and to build adaptive capacity concerning social inclusion and environmental sustainability. Reimagining and rebuilding a resilient Blue Economy in India post-COVID will require a strong political commitment to promoting a balance between economic, social and environmental benefits in line with India’s Sagarmal project (2015 – 2035) and other coastal projects and linking with the United Nations’ Sustainable development goals.

Community-based adaptation (CBA) activities with the community-based organizations (CBOs), research institutions and private sector engagement need to be established to improve the regional context and to promote resilience to climate change. Industry stakeholders suggest that the sustainability of the Blue Economy can only be achieved if we consider social, institutional, technical, financial, and environmental as critical factors in every programme.

CCX has joined hands with various national and international agencies – to diversify the asset management in a regional context and enhance the livelihoods and increase productivity and sustainability of coastal ecosystem under future climate scenarios.

Register to read a whitepaper for insights from various industry stakeholders on the Blue Economy Initiative.