World Economic Forum-OCEAN, UCSB partner to protect world’s $2.5 trn ocean economy

By: |
January 20, 2017 6:55 PM

According to the World Wildlife Fund, oceans generate goods and services worth an estimated USD 2.5 trillion per year, equivalent to the seventh largest economy in the world.

(Reuters)In addition to the livelihoods of 80 per cent of the world’s population – is threatened by the decline in ocean health, lack of adequate measuring and monitoring of ocean activities. (Reuters)

The World Economic Forum and the UCSB’s Marine Science Institute have announced a partnership to improve health of world’s oceans and maritime resources. The new partnership aims to protect world’s USD 2.5 trillion ocean economy. “This partnership will harness the potential of public-private cooperation and the fourth industrial revolution to help the international community meet the ocean sustainable development goal,” said Dominic Waughray, Head of Public-Private Partnership and Member of the Executive Committee, World Economic Forum.

It will be supported by the Benioff Ocean Initiative, an applied programme within the University of California, Santa Barbara’s (UCSB) Marine Science Institute, using science to improve ocean health, and the David and Lucile Packard Foundation, a fund to advance ocean science, protection and management.

You May Also Like To Watch:

“Through this new partnership with the World Economic Forum, scientists at UC Santa Barbara who are setting the global agenda for ocean research will also now play a role in setting the global agenda for ocean change,” said Douglas McCauley, Marine Biologist and Assistant Professor at the University of California, Santa Barbara.
According to the World Wildlife Fund, oceans generate goods and services worth an estimated USD 2.5 trillion per year, equivalent to the seventh largest economy in the world.

However, this value – in addition to the livelihoods of 80 per cent of the world’s population – is threatened by the decline in ocean health, lack of adequate measuring and monitoring of ocean activities.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Govt to link innovative agriculture technologies to farms to help farmers in North East region
2Normal monsoon to support economic recovery; will agri commodity price rally continue in coming days?
3Fiscal policy needs to address triple whammy of inflation, low growth, threat of capital outflows