Brimming ocean economy to hit $3 trillion by 2030

Mar 27, 2018, 8:02 AM EDT
(Source: Victor/flickr)
(Source: Victor/flickr)

A report, entitled Foresight Future of the Sea, estimates that the potential value of the ocean economy, which includes all maritime, fishing and offshore oil and gas, could double by 2030 to reach $3 trillion.

The Foresight Future of the Sea report for the U.K. government also underscores the challenges arising out of growing human activities that might deteriorate marine biodiversity, force sea level rise, pollute oceans with plastics and chemicals and raise marine temperatures by up to 3.2°C.

The report calls for a deeper understanding of the seas by leveraging breakthroughs in science and technology and co-ordinating diverse sectors of the marine economy for shared requirements of research, infrastructure and skills, notes Climate Action.