From Nov 26-28 Kenyan capital Nairobi hosted the world’s first Sustainable Blue Economy Conference, a summit focusing on how countries can benefit from what is called a blue Economy. Al Jazeera
The theme of the conference is Blue Economy and the UN 2030 agenda for Sustainable Development, new technologies and innovation for oceans, seas, lakes and rivers as well as the challenges, potential opportunities, priorities and partnerships. UNDP Kenya
Transitioning to a true blue economy is not a solo act. It requires partnerships around the world. To deliver this conference and ensure developing states can participate, the Government of Kenya partnered with Canada and Japan. Blue Economy Conference
Sustainable Blue Economy is a marine-based economy that provides social and economic benefits for current and future generations, restores, protects and maintains the diversity, productivity and resilience of marine ecosystems, and is based on clean technologies, renewable energy, and circular material flows. African News
Kenya committed to establish a blue economy bank to support the growth and development of the sector. The host also promised to ensure safety and security in the high seas so that global trade, connectivity and all businesses can thrive unhindered and unfettered. President Uhuru Kenyatta committed to aggressively combat illegal, unregulated and unreported fishing, and take measures to enhance security and safety in the country’s waters. On fisheries development, the President said he would ensure responsible and sustainable fishing to conserve endangered species and high-value fish stocks… Financial support amounting to 40 million Euros by the European Union and Africa Caribbean Pacific countries was set aside to support aquaculture value chains in African countries. Standard Digital
Kenyan President committed to establish the University of Nairobi Institute for Blue Economy and Ocean Studies. The country will also take measures to revive its maritime transport by building and expanding its ports and shipping facilities. During the conference, the first sovereign blue bond of $15 million (Sh1.5 billion) was issued in collaboration with the Global Environment Facility, the World Bank and the Prince of Wales Trust (Seychelles). The conference also established a World Bank trust fund to help manage marine litter in developing countries. Kenyan Digest
Key Pledges that emerged from the summit are, the World Bank trust fund received a big boost from the Swedish government which pledged $33.3 million (Sh 3.3 billion) to support the transition to the blue economy as well as develop strategies for the conservation of marine environment. Victory Farms Ltd East Africa promised to construct a fish hatchery with the capacity to produce 10,000 metric tonnes of fish. Java House Africa also committed to plastic-free services in all it establishments. Japan’s Toyota Tshusho pledged to invest in renewable energy in Africa including generation of energy from waste in Mombasa. Parents Magazine
Blue Economy is an evolving concept, such conferences allow how to advance the idea of sustainable blue economy. And how Blue Economy can become a source of wealth for the countries and their people. Sustainable Blue Economy Conference has emphasized on growing the blue economy in a sustainable, inclusive and people centered manner.