The World Economic Forum and UCSB’s Marine Science Institute (MSI) have announced a partnership to improve health of world’s oceans and maritime resources.
This partnership will tap the potential of public-private cooperation.
It will usher the 4th industrial revolution to help the international community meet the ocean sustainable development goal.
It will be supported by the Benioff Ocean Initiative for using science to improve ocean health, and the David and Lucile Packard Foundation to fund advance ocean science, protection and management.
The fundamental intention of this JV is to translate the previously conducted ocean experiments and their suggestions into action.
This will help the members of the undertaking to improve the general oceanic health and marine resources, which annual is around $2.5 trillion.
As per World Wildlife Fund, the annual worth of goods and services produced by the seas and aquatic communities is estimated to be approximate $2.5 trillion.
However, due to the reducing efficiency of oceans to produce services and goods, the livelihoods of around 80% populace of the world are being affected, necessitating protection.
Ocean Economy: Know More- According to the World Wildlife Fund (WWF), oceans generate goods and services worth an estimated $2.5 trillion per year.
- This is equivalent to the 7th largest economy in the world.
- Ocean and seas, have acquired 97% of the entire earth.
- Rather than creating life-saving oxygen and absorbing carbon dioxide from the atmosphere, the presence of oceanic community is also benefiting the global economy.
- Therefore, World Economic Forum and the Marine Science Institute of the University of California, Santa Barbara (UCSB) has started a joint venture.
- It is for protecting the marine life and aquatic communities across the globe.
