Why is it in the news?

• IUCN released a report titled “Towards a Regenerative Blue Economy – Mapping the Blue Economy”. The report proposes a clear definition and founding principles for a Regenerative Blue Economy (RBE). 

About Regenerative Blue Economy (RBE)

• RBE is an economic model that integrates effective regeneration and protection of ocean and coastal ecosystems with sustainable, low, or no carbon economic activities, ensuring fair prosperity both now and in the future.

Founding Principles:

• Protection, restoration, resilience, and regeneration of marine and coastal ecosystems, prioritizing marine resources and natural capital.
• Prioritization of inclusion, fairness, solidarity, well-being, and resilience of impacted populations.
• Inclusive and participatory governance system, incorporating scientific assessments.
• Consideration of the needs of coastal populations and indigenous peoples.

Exclusions:

• Certain activities incompatible with RBE objectives are excluded, such as oil extraction and deep-sea mining, due to their adverse impacts on carbon reduction goals and marine ecosystems.

Recommendations for RBE Promotion:

• Redirect finance to regenerative activities within the blue economy.
• Expand the science and innovation base, particularly in the global south, to support sustainable ocean management.
• Empower local stakeholders to take action for ocean conservation and sustainable development.