Blue Economy An Approach to Sustainable Development: Bangladesh Perspective. Anjan Datta

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1 Blue Economy An Approach to Sustainable Development: Bangladesh Perspective Anjan Datta

2 The Blue Economy A developing world initiative pioneered by SIDS but relevant to all coastal states and countries with an interest in waters beyond national jurisdiction Conceptualises oceans as development spaces where spatial planning integrates conservation, sustainable use, oil and mineral wealth extraction, bio- prospecting, sustainable energy production and marine transport Breaks the mould of the business as usual brown development model where the oceans have been perceived as a means of free resource extraction and waste dumping; with costs externalised from economic calculations

3 Can be defined as smart, sustainable and inclusive economic and employment growth from the oceans, seas and coasts Argues for incorporation of ocean values and services into economic modelling and decision-making processes Endorses the principles of low carbon, resource efficiency and social inclusion, but it is grounded in a developing world context and fashioned to reflect the circumstances and needs of countries whose future resource base is marine The Blue Economy paradigm constitutes a sustainable development framework for developing countries addressing equity in access to, development of and the sharing of benefits from marine resources; offering scope for re-investment in human development and alleviation of national debt burdens.

4 Few basic facts about the Blue Planet Oceans cover 72% of the surface of our blue planet and constitute more than 95% of the biosphere Life originated in the oceans and they continue to support all life today by generating oxygen, absorbing carbon dioxide, recycling nutrients and regulating global climate and temperature Oceans provide a substantial portion of the global population with food and livelihoods and are the means of transport for 80% of global trade

5 The marine and coastal environment also constitutes a key resource for the important global tourism industry The seabed currently provides 32% of the global supply of hydrocarbons with exploration expanding Advancing technologies are opening new frontiers of marine resource development from bio-prospecting to the mining of seabed mineral resources The sea also offers vast potential for renewable blue energy production from wind, wave, tidal, thermal and biomass sources

6 Contribution of Coastal and Marine Resources in Global GDP Terrestrial 38% Open ocean 25% Coastal 38% Estuaries 12% Seagrass/ algae beds 11% Coral reefs 1% Shelf 13%

7 Blue Economy Bangladesh Context Blue Economy - is a concept that can significantly contribute to the socio-economic development of Bangladesh. Blue economy concept has ushered in a new horizon for economic development of the coastal countries through utilising the sea and marine resources at national and international level H.E. Sheikh Hasina Prime Minister Government of the People s Republic of Bangladesh

8 In Bangladesh, along with existing land-based development activities, the marine-based economic activities, and management of sea and its resources through Blue Economy is considered as a new horizon for development This got a new impetus after the UN verdict in favour of Bangladesh, giving the country sovereign rights on more than 118,000 sq km of maritime territory, 200 nautical miles (NM) of exclusive economic zone, and 354 NM continental shelves from the Chittagong coast

9 Maritime Area of Bangladesh Source: M Shahadat Hossain et. al 2014

10 It has raised hopes of extracting plenty of resources from the Bay of Bengal Bay of Bengal is considered by Bangladesh as its third neighbour Nearly 30 million people are directly dependent on oceanic activities like fisheries and commercial transportation for their livelihood Bangladesh international trade is mainly sea borne A huge stock of living and non-living resources is available under the seabed and water column, and exploitation is still very limited

11 Fishery - there are about 435 species of fish available in the BoB region, and the total collection of fish from the BoB is approximately 6 Mt annually, but Bangladesh s share is meagre 0.3 Mt Oil and Gas - Bangladesh is yet to assess the true potential of its offshore oil and gas prospects. On shore gas exploration success ratio is 3:1, for offshore this stands to 9:1 Mangroves - 441,455ha of mangroves, including the world s largest single tract of natural mangroves, i.e. the Sundarbans. Annual economic value of mangroves, i.e., products and services they provide, is estimated to be between USD billion

12 Beyond Fisheries There are mineral resources in the seabed Bangladesh through use of advance technologies can enhance its salt production for export (salt production has remained stagnant at 350 TH MT since 2003). Other mineral resources that Bangladesh can harvest, are gas, copper, magnesium, nickel and precious metals, including cobalt Bangladesh can also utilize the sea for producing renewable electricity

13 Bangladesh is one of the promising countries in the arena of ship building and ship breaking. According to an estimate, the country contributes 24.8% of global growth in the industry of ship building and breaking In addition pharmaceuticals can also benefit from the sea resources Bangladesh is fully conscious of its responsibilities and is committed to take a scientific approach to assess and decide on the best options for exploration and management of the stock of living and non-living resources that is available under the seabed and water column

14 Bangladesh has already embarked on studies on the state of the marine resources and classified them as finite, infinite and renewable based on the volume of stock and regeneration living and non-living based on their status/state of life capital/stock and potential based on their immediate availability and readiness for harvest/utilization, and carbon positive, carbon negative and carbon neutral based on their greenhouse carbon-dioxide emission signatures when used

15 Example of multi-criteria attribution of marine resources for right decision making and planning. Source: M Shahadat Hossain et. al 2014

16 Bangladesh is committed to move ahead with a Bay of Bengal partnership for Blue Economy to secure sustainable development among the coastal or littoral states ensuring an inclusive and people-centric blue economy Bangladesh Foreign Minister Hon. Mahmood Ali in his concluding remarks during the International workshop on Blue Economy in Dhaka September 2014, said there needs to have collaboration in research, observation and surveillance; and in respect of sharing of analyses, outcomes and observations. And, such collaboration among countries must take place based on certain universal principles of engagement-mutual trust, respect, mutual benefits and equitable sharing of benefits.

17 The peaceful resolution of maritime discords has opened a golden opportunity for Bangladesh to explore and exploit the vast resources in the Bay of Bengal There is no doubt that sea-related subjects like expansion of international trade, use of marine mineral resources for long-term energy security, proper management of marine fish resources and protecting marine environment and bio-diversity would determine Bangladesh s future development and economic growth Bangladesh has a number of policies and legislations to guide exploration and collaboration for management of its blue natural resources and is also considering drawing up a maritime policy

18 Let s Sum Up Each sovereign country is responsible for its own resources and sustainable development. This national responsibility and importance of national polices and development strategies remains the cornerstone for advancing Blue Economy approach The principle of common but differentiated responsibilities, however, still applies Structured international cooperation underpins all aspects of the Blue Economy

19 Blue Economy recognizes and places renewed emphasis on the critical need for the international community to address effectively the sound management of resources in and beneath international waters by further development and refinement of international law and ocean governance mechanisms Cutting edge technologies and rising commodity prices are opening up new realms of opportunity for submarine exploitation The High Seas constitute the last global commons and urgent attention is required to enable sound management of ocean resources for the realization of sustainable development

20 Let me reiterate that the oceans have a major role to play in humanity s future and that the Blue Economy offers an approach to sustainable development better suited to their circumstances, constraints and challenges The potential of the oceans to meet sustainable development needs is enormous; but only if they can be maintained in and/or restored to a healthy, and productive state The ecosystem approach must underpin all aspects of the Blue Economy incorporating inter- relationships, knock-on effects, externalities and the true costs and benefits of activities in terms of the natural blue capital

21 Let us acknowledge the value of partnering to secure the health of our Blue Ocean THANK YOU ALL