Hermoso, Kitchie (2021) Blue economy in Thailand: A rising tide that lifts all boats.
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Oceans are an important source of income for the people of Thailand and many others in the Asia Pacific region. According to UNCTAD, most of the more than three billion people who depend on oceans for their livelihoods live in developing countries. But the sustainability of oceans is under threat through overfishing, degradation of mangroves and coral reefs, and marine debris. UNCTAD estimates the value of global ocean assets at over $24 trillion, making it the 7th largest economy in the world in terms of gross domestic product, GDP. By 2030, what’s now known as the Blue Economy will outperform the growth of the global economy according to OECD estimates. However, unsustainable economic activities can lead to the ruin of the seas and oceans, eroding the resource base on which that growth depends. And if unsustainable fishing practices and deterioration of coastal and marine ecosystems continue, by 2050 it’s estimated there will be no usable fish stocks in the Asia Pacific region. IFC is putting climate action at the heart of its development work. We are working to align investments with the goals of the Paris Agreement, intensifying our support to help clients decarbonize, and deploying market standards and tools to catalyze private sector financing for climate. The Blue Economy goes beyond a focus on the oceans and seas. It also focuses on the land–and includes having measures such as recycling facilities and waste treatment plants, to prevent pollution in the waters. There is currently an estimated 150 million tons of plastics in the world’s oceans, a number that could reach 250 million tons in less than 10 years, if current trends in urbanization, production and consumption continue. Unfortunately, the ongoing COVID-19 pandemic is also contributing to greater environmental damage through increased use and improper disposal of plastic waste.
| Item Type: | Articles |
|---|---|
| Keywords: | Blue Economy, Thailand, International Finance Corporation (IFC), Livelihoods, Developing Countries, Coral Reefs, Overfishing, Fish Stocks, Marine Ecosystem |
| Subjects: | Biodiversity |
| Depositing User: | Kokila ICSF Krish |
| Date Deposited: | 23 Jun 2025 10:34 |
| Last Modified: | 23 Jun 2025 10:34 |
| URI: | http://icsfarchives.net/id/eprint/21792 |
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