About the Event: The webinar seeks to address the economic growth potential the G20 holds within the blue economy and address the rising importance of pushing the area within foreign policy agendas, while addressing the current state of affairs within existing blue economy policies. With the presidency being led by an archipelago with immense reliance on the blue economy, the current G20 will have a focus on blue growth within the post pandemic world via domestic and foreign policies, alongside the creation of roadmaps prioritising resilience building and sustainable blue growth. Soon, the presidency will be passed over to India, with implications that blue economy restoration via the implementation of substantial national policies alongside the heightened importance on the preservation of marine biodiversity will be prioritised. With the blue economy’s rising relevance in boosting global economic growth, the upcoming conference will also address India and the G20’s role in sustainable finance, international trade and transport, sustainable and regenerative tourism and more, alongside the forum’s indispensable role in its restoration and growth after the COVID-19 pandemic.
The Key Speaker or Speakers: Mr. Niranjan Marjani
Summary of Discussions
Post pandemic recovery is a priority when looking at economic and blue growth. India’s G20 presidency must look to include areas such as sustainable tourism regeneration and sustainable blue finance within a multilateral, comprehensive, inter-regional and overarching framework, where prioritisation for professionals within the sector, technology, data collection, energy transitions, coastal populations, climate change, IUU fishing, maritime pollution, economic growth, digitisation, food security and more, calling for enhanced maritime domain awareness instead of a one dimensional approach.
Blue economy has no uniform definition and tends to focus on the generation of policies that are very nation based as opposed to regional. Climate change and sustainability goals are being prioritised on a national level in India and globally, hence there is a need to focus on cooperation and collaboration to address regional and inter-regional challenges, while reaching a global consensus on definitions, governance, strategic areas, regulations and policies.
Nations must look to place emphasis upon governance and regulations in regards to blue economy policies, which is lacking within existing G20 agendas.
There is a need for a comprehensive and multilateral framework to address the blue economy and look into various multidimensional tenets of the maritime domain, alongside establishing a comprehensive definition of the blue economy, while focusing on the need for better governance and regulation of the blue economy.
There is a need to focus on the connection of non maritime security and economy threats such as climate change, IUU fishing, maritime pollution, piracy and maritime terrorism and more when it comes to addressing all inclusive blue economy policies to foster economic growth.
Inter-regional collaboration and cooperation is vital in order to tackle blue economy policies, where blue economy agendas must transition into a regional understanding on how to create extensive blue economy policies that will address the needs of the forum.