Governments must collect accurate ocean data to be able to preserve ocean life, the blue economy, blue carbon sinks, millions of jobs, and sustenance for countless food chains, millions of people, and animals.
At this moment, the answer to tracking and monitoring sustainability relies on accurate and consistent data collection done by IoT sensors and furthering sustainability strategies using AI-predictive analytics based on that data. Sustainability solutions in the new blue economy will be derived from the data extracted and will give us insights in real-time under various conditions. We’ll be able to respond to red flags faster than ever, fostering more positive societal outcomes in the long run.
The new blue economy will use IoT sensors and AI capabilities for planning various topics like preservation, climate issues, and industrial use. This will thrust the traditional blue economy forward optimizing timing and precision. In this way, sustainability and technology will result in profitability. Using technology to further ocean data research has proven to be the key as of late to accelerate this journey.
The blue economy refers to the economic activity that is associated with coastal communities, oceans, and seas. The new blue economy is based on using data collected from IoT sensors to help understand, protect, track, and monitor the oceans in order to make viable strategies towards advanced sustainability, taking advantage of AI-driven technologies.
We’ll look now, into the blue economy of different regions.
The Blue Economy Conference of 2024 was just held May 1-2 in Dubai, UAE. The Gulf Cooperation Council (GCC) has been strategizing in parallel with recent advanced sustainability efforts and pledges, the GCC is putting special attention on climate action and the blue economy.
According to the WEF, “Saudi’s coastline is the eighth largest community of coral reefs in the world, covering around 6,600 square kilometres, as well as 204 square kilometers of mangrove forests, and hundreds of kilometres of seagrass meadows. It is also home to more than 20 newly-discovered “blue holes” in the Red Sea.” That means that Saudi’s coastline is a huge carbon sink due to the vast seagrass meadows that absorb CO2. The lack of attention that has been given to UN SDG 14 Life Below Water by the rest of the world, will be a focus for Saudis as they have seen the benefits of sustainability in their coastal communities. They are also using data collection and AI-driven analytics to preserve natural ecosystems in the Red Sea.
In addition to maritime logistics and other sectors, Saudi will focus mainly on sustainable tourism to promote the blue economy. To do this, they are investing in renewable energy and restoration of ecosystems. These ventures will require accurate data collection, AI-driven strategic tools, and financial preparation with predictive analytics based on targets, data, and government means. Net0 provides sustainability solutions to accommodate every requirement.
The NOAA constructed a 2021-2025 Blue Economy Strategic Plan for America that is expected to double the value of the current blue economy to $3 trillion in the next decade. 40% of Americans live in coastal counties and the coastal job market reaches 2.3 million jobs. About $373 billion to the nation’s gross domestic product was contributed from activities such as tourism and recreation, shipping and transportation, commercial and recreational fishing, power generation, research, and related goods and services in the blue economy. The seven areas the Blue Economy Strategic Plan will focus on are:
1. Advance NOAA Contributions to Marine Transportation
2. Map, Explore & Characterize the U.S. Exclusive Economic Zone (EEZ)
3. Implement the Executive Order on Promoting Seafood Competitiveness and Economic Growth
4. Expand Tourism and Recreation Opportunities in the America’s Oceans, Coasts, & Great Lakes
5. Enhance the Resilience of America’s Oceans, Coasts, & Great Lakes Coastal Communities
6. Improve Cross-cutting Internal Focus Areas to Grow the American Blue Economy Sustainably
7. Leverage Cross-cutting External Opportunities to Grow the American Blue Economy
The data that needs to be collected, including carbon data, is a core part of the strategic plan. It can only be possible using IoT sensors and advanced technologies in order to be enhanced and completed.
The EU Blue Economy Report offers an in-depth analysis of European blue economy sectors and their performances based on the most recent data available. This enables the European Union to evaluate overall ocean health, develop strategies to protect the ocean, and build new business opportunities that increase employment and enhance their economy. Again, sustainability, IoT, AI, and data accuracy lead to profitability.
In the 2024 report, the EU has reported the following 2021 Eurostat statistics about the blue economy:
The largest sector of the European blue economy is tourism, followed by maritime transport. Offshore wind energy grew 326%, advancing steeply the overall renewable energy sector of Europe.
One highlight was that if we don’t protect the coastal environment, the damage and flooding of climate change will be so severe that it will cost between €137 billion and €814 billion by 2100 under alternative emissions and mitigation scenarios. Net0 knows how important predictive AI is using precise data. For that reason, the Net0 carbon reduction simulator tool enables governments, organizations, and large corporations to view particular aspects of emissions impact and generate profitable scenarios based on each entity’s data to empower companies to proactively stop the impacts of emissions damage before they gain momentum.
Related content
For more information about transforming to a sustainable economy check out our further reading:
• Article: Net0's Global Expansion: Launching our Carbon Management Platform in Dubai, Tackling Climate Change in the UAE, and Advancing Net Zero Goals Worldwide
• Article: A Decision-Making Framework for Choosing Effective Decarbonization Initiatives
• Article: Decarbonization: How to Set Goals and Sustainability Targets
The UN SDG 14 Life Below Water was created to conserve and sustainably use oceans, seas, and marine resources for sustainable development.
The targets they have planned for an enhanced sustainable blue economy by 2030 have yet to make progress in the following areas:
14.1 Reduce Marine Pollution by 2025
14.2 Protect and Restore Ecosystems by 2020
14.3 Reduce Ocean Acidification
14.4 Sustainable Fishing by 2020
14.5 Conserve 10% of Coastal and Marine Areas by 2020
14.6 End Subsidies Contributing to Overfishing by 2020
14.7 Increase the Economic Benefits from Sustainable Use of Marine Resources by 2030
14.A Increase Scientific Knowledge, Research and Technology for Ocean Health
14.B Support Small Scale Fishers
14.C Implement and Enforce International Sea Law
In March 2023, an agreement was reached at the United Nations for a High Seas Treaty which is an objective to put 30% of the world’s oceans into MPAs to protect wildlife and ensure equal access to marine genetic resources instead of the 7.5% of oceans that are currently MPAs because 64% of waters are high seas or international waters.
Net0 provides sustainability solutions for data collection in and out of the blue economy. Net0’s environmental monitoring sensors and IoT devices collect data from ocean matter and stores it in the cloud in real-time, cutting time, energy, and money from data collection with traditional methods.
Accurate and precise data collection, accurate analysis and proven initiatives is what will drive the new blue economy. Net0 offers the tools that give accurate calculations, abilities to measure, monitor, and track data in real-time, and AI-driven strategies that help improve ocean health. To discover more about Net0’s sustainability solutions, talk to an expert today.
