Blue Economy for Sustainable Development

• 28 Mar 2023

Recently, the G20 countries, which account for 45% of the world's coastlines and over 21% of the exclusive economic zones, have collectively committed to promoting the sustainable development of the ocean commons.

• India's G20 Presidency prioritizes the blue economy, promoting sustainable and equitable economic development while addressing environmental challenges.
• The G20 forum offers an opportunity for countries to share best practices, collaborate, and create innovative blue finance mechanisms.
• The outcomes of the G20 forum on the blue economy should inform other international negotiations.
• The international negotiations include the United Nations Framework Convention on Climate Change, the Convention on Biological Diversity, the Intergovernmental Negotiating Committee on Plastic Pollution, and the United Nations Convention on the Law of the Sea.
• The oceans play an essential role in the world's biodiversity, climate regulation, and economic well-being of coastal communities.
• The spirit of 'One Earth, One Family, One Future' should unite the global community for the well-being of our ocean commons.
• The stewardship of oceans is crucial for future generations, and international cooperation is necessary to ensure their protection and conservation.