Empowering Communities to Protect Their Ocean
Blue Economy
BLUE
ECONOMY
According to the World Bank, the Blue Economy is the sustainable and integrated development of economic sectors for healthy oceans and seas. It occurs when economic activity is in balance with the long-term capacity of ocean ecosystems to support activity and remain resilient and healthy.
As the world shifts to new ways of building sustainable economies, it is important to provide new opportunities for environmentally conscious development, capacity building, and alternative livelihoods to support communities. At the Waitt Institute, we work to support leaders and communities to build towards new ways of doing business while thinking long-term about creating an economy that is resilient to global events.
A Blue Economy approach allows countries to successfully manage their Exclusive Economic Zones (EEZ), without exhausting the vital marine resources that we all depend on. Building a viable Blue Economy ensures that economic stability and preservation of the ocean go hand in hand.
BLUE ECONOMY
refers to the sustainable use of ocean resources for economic growth, improved livelihoods and jobs and ocean ecosystem health.
The Blue Economy encompasses many activities including sustainable fisheries management, renewable energy, infrastructure, tourism, education, and blue finance.
BY THE
NUMBERS
$24 trillion USD
40 million
estimated global ocean asset value
estimated number of ocean jobs by 2030
CORE
PRINCIPLES
FINANCIALLY SUSTAINABLE
Maintaining profits and economic growth for a prosperous future.
RESEARCH-BASED
Using best available information to make informed decisions.
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COLLABORATIVE
Engaging ocean stakeholders and communities to ensure all voices are heard and represented.
HARMONY
Prioritizing environmental protection, economic prosperity, and societal wellbeing.
OUR
ROLE
We partner with governments to help build smart sustainable ocean states.
OUR
APPROACH
SCOPE
Gain a deep understanding of a state's Blue Assets to formulate a narrative.
SHAPE
Identify one high-impact idea that can lead the Blue Economy and create strategies for implementation.
ACCELERATE
Implement, monitor and evaluate Blue Economy strategies.
CURRENT
PROJECTS
OUR
EXPERTS
Noah Greenberg
Blue Economy Director
Sustainable finance expert with experience designing financial plans for marine conservation.
Dr. Angus Friday
Strategic Partnerships Director
World renowned Blue Economy practitioner building a network of influencers, collaborators, and strategic partners to advance Blue Prosperity.
Asia Williams
Blue Economy Manager
Kristin Methlagl
Blue Economy Consultant
Project management professional experienced in supporting Blue Economy entrepreneurs and sustainable infrastructure.
LINKS &
RESOURCES
The Potential of the Blue Economy - World Bank (2017)
Principles for a Sustainable Blue Economy - World Wildlife Fund (2015)
The Blue Economy: Growth, Opportunity and a Sustainable Ocean Economy Briefing Paper - The Economist (2015)