Abu Dhabi – Mubasher: Several experts on Thursday highlighted the UAE’s capability to have a regional, leading blue economy during the three-day World Ocean Summit.
The world’s ocean economy generates $1.5 trillion a year and 80% of the world’s trade is transported by sea, Calvert Impact Capital’s president and CEO Jennifer Pryce said.
The coming phase will require further efforts by the business sector and society, former president of Seychelles James Michel said, affirming the need to increase natural reserves in the world to 30%.
In 2018, about $130 billion was allocated for environmental sustainability projects, Africa region representative at Convergens, Lade Araba, noted.
Fishing-related jobs amounted to 350 million around the world, co-founder and managing partner of SYSTEMIQ, Martin Stuchtey, revealed, adding that aquaculture is the fastest growing food sector and provides about 50% of the world's total fish production.
In addition, offshore fields are estimated to account for 34% of the world’s crude oil by 2025.
