Seven highlights from the world's first ever Blue Economy Conference

Let's start with what is a blue economy? Unsurprisingly, it involves monetizing the oceans... however, in a sustainable manner to improve livelihoods and ocean ecosystem health. It focuses on - amongst other things - maritime transport, fisheries, renewable energy and ocean tourism. The oceans are a great source for growth (and unfortunately, exploitation).

Now, coming to the key highlights from the first ever Blue Economy Conference that took place between 26th and 28th November, 2018 in Nairobi, Kenya:

1. Presence of 18,000+ delegates from 170+ countries. It was co-hosted by Japan, Canada and Kenya.

2. Justin Trudeau announced Canada's suuport to the United Nation's Decade for Ocean Science and announced funding for Friends of Ocean Action Group. He reiterated the commitment to the Canada's Ocean Protection Plan directed towards protecting the coastal regions through investing 1.5 Billion Dollars over a period of five years.

3. Kenya will establish a Blue Economy Bank with an aim to develop this sector.
4. 40 Million Euros are set aside for the development of aquaculture in African countries.
5. Seychelles issued the first every blue bond worth 15 Million Dollars.

6. Sweden pledged 33.3 Million dollars to provide impetus for the transition towards a blue economy.
The strategy is to help achieve SDG - 14: Conserve and sustainably use the oceans, seas and marine resource for sustainable development (although, life below water is much easier to remember).

7. Toyota has pledged investments in renewable energy in Africa and generation of energy from waste in Mombasa.


References -
a. Pscu. (2018, November 28). AU honours Uhuru for world's first Sustainable Blue Economy Conference » Capital News. Retrieved from https://www.capitalfm.co.ke/news/2018/11/au-honours-uhuru-for-worlds-first-sustainable-blue-economy-conference/
b. Wambu, W. (2018, November 28). Pledges to implement key blue economy outcomes. Retrieved from https://www.standardmedia.co.ke/article/2001304413/pledges-to-implement-key-blue-economy-outcomes
c. Statement by the Prime Minister on the Sustainable Blue Economy Conference. (n.d.). Retrieved from https://www.newswire.ca/news-releases/statement-by-the-prime-minister-on-the-sustainable-blue-economy-conference-701468592.html