Navigating a rising tide of blue ocean business

THE global economy would not exist without the ocean. Ocean-based industries contribute US$1.5 trillion annually and hundreds of millions of jobs in fishing, shipping, marine tourism, and renewable energy. These economic services, however, are at risk due to unsustainable marine practices and over-exploitation of ocean resources.

This year, the World Economic Forum Global Risk Report identified biodiversity loss and human environmental damage as two of the biggest risks to the global economy. Continued business-as-usual approaches will result in reduced natural capital - such as fish from the sea - and disruptions in supply chains.

These risks are material to most businesses, even those that indirectly rely on the ocean, as more than half of global gross domestic product (GDP) is moderately or highly dependent on nature.