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Chapter 26 How green is the blue economy?

  • Graham Wood
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De Gruyter Handbook of Sustainable Development and Finance
This chapter is in the book De Gruyter Handbook of Sustainable Development and Finance

Abstract

The chapter begins by comparing the 10,000 years of the (largely) terrestrial economy, with the (relatively) recently emerging blue economy. The history of the terrestrial economy has been one of trial and error in terms of how sustainable or green it may be characterised as being. What lessons can be applied now to avoid some of those errors in the blue economy? Using this comparison as motivation, the chapter will involve a discussion of the concepts of planetary boundaries, ecosystem services and natural capital, the contrasts between domesticated and non-domesticated space; strong and weak sustainability; intrinsic and instrumental environmental values; shallow and deep environmental ethics; and biocentric and anthropocentric conceptual frameworks. The analysis will involve a critical examination of the concept sustainable development drawing on a number of approaches including those motivated by the Brundtland definition of sustainable development (World Commission on Environment and Development 1987). The analysis will also point to a number of examples to illustrate the concepts central to sustainability. Finally, a series of specific questions will be identified and examined in order to address the overarching question of this chapter: how green is the blue economy?

Abstract

The chapter begins by comparing the 10,000 years of the (largely) terrestrial economy, with the (relatively) recently emerging blue economy. The history of the terrestrial economy has been one of trial and error in terms of how sustainable or green it may be characterised as being. What lessons can be applied now to avoid some of those errors in the blue economy? Using this comparison as motivation, the chapter will involve a discussion of the concepts of planetary boundaries, ecosystem services and natural capital, the contrasts between domesticated and non-domesticated space; strong and weak sustainability; intrinsic and instrumental environmental values; shallow and deep environmental ethics; and biocentric and anthropocentric conceptual frameworks. The analysis will involve a critical examination of the concept sustainable development drawing on a number of approaches including those motivated by the Brundtland definition of sustainable development (World Commission on Environment and Development 1987). The analysis will also point to a number of examples to illustrate the concepts central to sustainability. Finally, a series of specific questions will be identified and examined in order to address the overarching question of this chapter: how green is the blue economy?

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. List of contributors IX
  4. Acknowledgements XIX
  5. Preface XXI
  6. Part 1: Origins and evolution
  7. Chapter 1 Origins and evolution of sustainable development and finance 1
  8. Chapter 2 Complexity and uncertainty in sustainable finance: An analysis of the EU taxonomy 15
  9. Chapter 3 Ecosystem services and natural capital: Application to sustainable finance 41
  10. Chapter 4 The World Bank (Group) and sustainable development 71
  11. Chapter 5 Landscape planning and economics for sustainable finance 89
  12. Chapter 6 Certification and sustainable development 119
  13. Part 2: Public finance
  14. Chapter 7 Public finance for sustainable development 141
  15. Chapter 8 Public finance and fiscal instruments for sustainable development 153
  16. Chapter 9 Financing sustainable development goals (SDGs) and the role of digital finance 177
  17. Chapter 10 Fiscal governance to support post-COVID low-carbon development in Indonesia 193
  18. Chapter 11 The EU renewable energy policy and its impact on forests 219
  19. Part 3: Private finance
  20. Chapter 12 Private finance for sustainable development 251
  21. Chapter 13 Green Bonds: Debt at the crossroad between finance, law and ecology 265
  22. Chapter 14 Investing in sustainable business models at the base of the pyramid 293
  23. Chapter 15 AI and blockchain for sustainable development in India 329
  24. Chapter 16 Valuing civil society environmental engagement 349
  25. Part 4: Climate finance
  26. Chapter 17 Climate finance for sustainable development 385
  27. Chapter 18 Financing emission reductions: Official development assistance (ODA)-driven climate finance and beyond 397
  28. Chapter 19 The adaptation fund (AF) 425
  29. Chapter 20 An analysis of the global carbon market post COP26: How fossil fuel emission reductions and offset integrity must guide carbon market operation 451
  30. Chapter 21 Financing climate resilience: New opportunities and challenges 475
  31. Part 5: The blue economy
  32. Chapter 22 Sustainable ocean development and the blue economy 497
  33. Chapter 23 Ethics in the blue economy 511
  34. Chapter 24 Financing sustainable coastal and maritime tourism in the blue economy of the Asia-Pacific 543
  35. Chapter 25 Evaluating the governance of sustainable development: The quality and legitimacy of the blue economy 567
  36. Chapter 26 How green is the blue economy? 599
  37. Chapter 27 Finance approaches supporting social enterprise, non-profits and for-purpose organisations: A marine permaculture case study 621
  38. Conclusion
  39. Chapter 28 Sustainable development and finance post-pandemic – future directions and challenges 653
  40. List of abbreviations and acronyms 667
  41. List of figures 673
  42. List of tables 675
  43. Index 677
https://doi.org/10.1515/9783110733488-026

Chapters in this book

  1. Frontmatter I
  2. Contents V
  3. List of contributors IX
  4. Acknowledgements XIX
  5. Preface XXI
  6. Part 1: Origins and evolution
  7. Chapter 1 Origins and evolution of sustainable development and finance 1
  8. Chapter 2 Complexity and uncertainty in sustainable finance: An analysis of the EU taxonomy 15
  9. Chapter 3 Ecosystem services and natural capital: Application to sustainable finance 41
  10. Chapter 4 The World Bank (Group) and sustainable development 71
  11. Chapter 5 Landscape planning and economics for sustainable finance 89
  12. Chapter 6 Certification and sustainable development 119
  13. Part 2: Public finance
  14. Chapter 7 Public finance for sustainable development 141
  15. Chapter 8 Public finance and fiscal instruments for sustainable development 153
  16. Chapter 9 Financing sustainable development goals (SDGs) and the role of digital finance 177
  17. Chapter 10 Fiscal governance to support post-COVID low-carbon development in Indonesia 193
  18. Chapter 11 The EU renewable energy policy and its impact on forests 219
  19. Part 3: Private finance
  20. Chapter 12 Private finance for sustainable development 251
  21. Chapter 13 Green Bonds: Debt at the crossroad between finance, law and ecology 265
  22. Chapter 14 Investing in sustainable business models at the base of the pyramid 293
  23. Chapter 15 AI and blockchain for sustainable development in India 329
  24. Chapter 16 Valuing civil society environmental engagement 349
  25. Part 4: Climate finance
  26. Chapter 17 Climate finance for sustainable development 385
  27. Chapter 18 Financing emission reductions: Official development assistance (ODA)-driven climate finance and beyond 397
  28. Chapter 19 The adaptation fund (AF) 425
  29. Chapter 20 An analysis of the global carbon market post COP26: How fossil fuel emission reductions and offset integrity must guide carbon market operation 451
  30. Chapter 21 Financing climate resilience: New opportunities and challenges 475
  31. Part 5: The blue economy
  32. Chapter 22 Sustainable ocean development and the blue economy 497
  33. Chapter 23 Ethics in the blue economy 511
  34. Chapter 24 Financing sustainable coastal and maritime tourism in the blue economy of the Asia-Pacific 543
  35. Chapter 25 Evaluating the governance of sustainable development: The quality and legitimacy of the blue economy 567
  36. Chapter 26 How green is the blue economy? 599
  37. Chapter 27 Finance approaches supporting social enterprise, non-profits and for-purpose organisations: A marine permaculture case study 621
  38. Conclusion
  39. Chapter 28 Sustainable development and finance post-pandemic – future directions and challenges 653
  40. List of abbreviations and acronyms 667
  41. List of figures 673
  42. List of tables 675
  43. Index 677
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