An ocean of benefits
Seen from space, planet Earth looks like a big blue dot. The ocean covers 70% of its surface and accounts for 97% of water, with the rest in glaciers and rivers. The ocean produces 50% of the Earth’s net oxygen and is the world’s largest carbon sink. It regulates the global climate by absorbing 25% of all CO2 emissions and 93% of the heat generated by these emissions. But the ocean’s ability to absorb carbon isn’t limitless.
As the ocean warms due to climate change, sea-level rise, acidification and marine heatwaves are triggered, which negatively impact biodiversity, people and the economy. If global temperatures increase by an average 2°C, marine ecosystems and the services they provide could be irreversibly damaged. These impacts are compounded by human and economic activities such as fishing, oil and gas exploitation, shipping and coastal development, which are already responsible for degrading 60% of global marine ecosystems.
The cost of inaction
According to the OECD report on the Blue Economy in Cities and Regions, climate change is perceived as the number 1 threat to the blue economy at the local level, with 86% of respondents to the OECD survey from 41 countries deeming it significant.
The bleaching of the Great Barrier Reef in Queensland, Australia is an environmental tragedy. But not only. It could cause the loss of 1 million visitors each year, equivalent to at least AUD 1 billion in tourism spending and 10 000 jobs. In Florida, United States, coral-reef degradation could increase the coastal flood risk for more than 7 300 residents, costing USD 823 million every year.
By 2050, sea level rise is projected to affect 800 million people living in the 570 cities exposed to sea level rise of at least 0.5 metre.
The conservation of biodiversity and ecosystems is considered a major driver for a sustainable blue economy by 81% of cities, regions and basins surveyed by the OECD.
Taking the plunge for our ocean
If we are serious about climate action, it’s high time to also act on the ocean. The theme of World Ocean Day 2024, “Catalysing Action for Our Ocean & Climate”, highlights the need for immediate efforts to protect our ocean. Here are four key strategies to make a difference now:
- Unlock the potential of local action
Cities and regions have a crucial role in creating and implementing policies that benefit blue economy sectors and ecosystems, including local economic development, education, land use planning, and sanitation and waste management. However, local blue-economy strategies are still emerging compared to national ones: only 7 out of 81 respondents to the OECD survey have formal blue economy policies. Yet many cities and regions have put in place training programmes, leveraged planning tools, and created innovation networks to promote blue economic growth and protect blue ecosystems. The Ocean & Climate Platform’s Map of Solutions is gathering examples of 70 such initiatives to build resilience to ocean-related hazards such as erosion, storm surges and land salinisation.
- Invest in ecosystem restoration
Investing in restoring ecosystems, including marine environments, can provide significant economic benefits. Every US dollar spent on ecosystem restoration can generate up to USD 110 in benefits, such as increased tourism, revenue from carbon markets, savings from avoided natural disasters, and increased food security and recreation services, human health. For example, mangroves across several Indonesian regions provide valuable ecosystem services such as coastal protection and raw materials provision that contribute to human wellbeing, providing on average USD 15 000 and 50 000 per hectare annually in benefits in Java and Bali respectively.
3. Apply a whole-of-water approach
Because healthy oceans depend on healthy rivers, connecting ocean policies with freshwater and land-use policies is essential, especially at the subnational level where freshwater and coastal ecosystems intersect. Several subnational strategies recognise the impacts of climate change on the blue economy and associated water-related risks. Regions like the Canary Islands and Catalonia in Spain, and Scotland in the United Kingdom, highlight ocean warming and acidification as major threats to the blue economy. They also address water-related challenges such as water shortages, sea level rise, and plastic pollution. However, very few subnational strategies outline measures to tackle these water-related risks.
- Power the Ocean Breakthroughs
The ocean is our life-support system and a vital part of the solution to solve the world’s most pressing challenges – food security, energy security, peace, biodiversity, climate – and many others. Ocean Breakthroughs, launched ahead of COP28, are science-based targets designed to boost mitigation and adaptation efforts for the benefit of people and nature. Articulated around five key sectors – namely, marine conservation, ocean renewable energy, shipping, aquatic food, and coastal tourism – they identify turning points to reach by 2030 to achieve a healthy and productive ocean in 2050.
Our ocean, our opportunity
Going forward, local and national governments should strive for blue economies that are resilient, inclusive, sustainable and circular (RISC-proof).
One year from now lies the next major milestone for the ocean community: the 3rd UN Ocean Conference taking place in Nice, France in June 2025. The Ocean Rise & Resilience Coalition at the conference under the leadership of the Mayor of Nice, Christian Estrosi, will aim to support the adaptation of cities and regions home to 1 billion people threatened by ocean hazards. This will hopefully pave the way towards a new era of commitments at local and regional levels.
On this World Ocean Day, let’s recognise the role of cities and regions in unlocking the potential of RISC-proof blue economies that catalyse ocean and climate action!
Loreley Picourt is the Secretary General of the Ocean & Climate Platform. As a strong advocate for multilateral cooperation, she works for a better integration of the ocean-climate-biodiversity nexus in decision-making at the national and international levels. She is active in two climate action and adaptation groupings at the United Nations Framework Convention on Climate Change.
Oriana Romano is the Head of Unit, Water Governance, Blue and Circular Economy, Urban Policies, and Sustainable Development Division of the OECD Centre for Entrepreneurship, SMEs, Regions and Cities. In 2018, she initiated a Programme on the Circular Economy in Cities and Regions, which supports governments in developing and implementing circular economy strategies. She heads the OECD Water Governance programme, which she joined in 2013. Before the OECD, she was university lecturer in Environmental Economics at the “Centre for International Business and Sustainability”(CIBS), London Metropolitan University (London, United Kingdom) and the Department of Social Science of the University “L’Orientale”(Naples, Italy). She currently teaches “The Transition to the Carbon Neutral and Circular Economy in Cities ”at Sciences Po, Paris, France. She holds a Ph.D in “Institution, Economics and Law of Public Services”.
Juliette Lassman is a Junior Policy Analyst in the Water Governance and Circular Economy Unit in the Cities Division at the OECD Centre for Entrepreneurship, SMEs, Regions and Cities (CFE). She has contributed to national and subnational policy dialogues on water governance, the circular economy and nature-based solutions, as well as work on the blue economy in cities. Previously, she worked on decarbonising transport at the OECD’s International Transport Forum. Juliette holds a Masters in Management specialising in economics and international business from IESEG Lille, France.