The Ministry of Earth Sciences (MoES) is working to establish India’s Blue Economy Policy with the support of the World Bank. The aim of the policy’s is to harness coastal and marine resources for social and economic growth.
It is aiming to do this while conserving ecosystems, fostering innovation and empowering coastal communities. The policy will encompass sustainable fisheries, coastal tourism, renewable energy, community development and pollution management.
IDEEA Group are part of the World Bank Project Team working to inform the implementation roadmap for the policy. The team is working across three pillars:
- Institutional Strengthening for implementation of the Blue Economy Policy
- Ocean Accounting Framework for Blue Natural Capital
- Innovative Finance for Blue Economy Development.
IDEEA Group are providing expertise on how measurement of the relationship between nature and the economy will support effective and long-term planning and implementation of the policy.
Mark Eigenraam and Reiss McLeod from IDEEA Group will be working on the first Technical Mission to support the policy. We will be engaging with stakeholders to build their capacity in ocean accounting, understand the potential role of stakeholders in a national program of work on ocean accounting, and to brainstorm with stakeholders about demonstration ocean accounts.
We look forward to keeping you up to date with the project as the work progresses.