WASHINGTON - The African Union estimates that the Blue Economy currently generates nearly US$300 billion for the continent, creating 49 million jobs in the process. These and other crucial benefits—most notably food security, livelihoods, and biodiversity—are entirely dependent on the ocean’s health. By safeguarding and enhancing marine and coastal health, countries will be in a better position to take full advantage of future Blue Economy opportunities, which range from sustainable blue energy to aquaculture to blue carbon.
The World Bank is pioneering Blue Economy for Resilient Africa Program, announced at the United Nations Framework Convention on Climate Change’s annual Conference of the Parties (COP27). The Program will work with Africa’s coastal countries to leverage the opportunities—and manage the risks—inherent in growing their budding Blue Economies.
Summary of the Blue Solutions for Africa
The Blue Economy is at the core of the economic development and competitiveness of Africa’s coastal countries. However, unsustainable infrastructure development, inadequate management of natural habitats and resources, and pollution are threatening their productivity. Climate change-related events such as sea-level rise, land subsidence, storm surge, and coastal flooding are exacerbating this vulnerability. The challenge today is: How can coastal countries manage their coastal and marine landscapes to spur economic growth and reduce poverty while adapting to the effects of climate change?
For the full report, visit: https://thedocs.worldbank.org/en/doc/213a25f8770328e39b2ef15e7104a136-0320012022/original/Overview.pdf