Blue economy and green living

Movements and deliberations around the world on environment have brought to the fore the environment friendly models one after another. Of these models, green economy model was at the centre of discussions until Professor Gunter Pauli presented in 1994 the concept of blue economy as a sustainable and environment friendly model. To present the details of the model, Professor Pauli wrote his sensational book entitled 'The blue economy: 10 years-100 innovations-100 million jobs'. He wrote this book with the twin aims of stimulating entrepreneurship while setting up new and higher standards towards sustainability. The goals set for the Blue Economy as a Business Model are: To create 100 million jobs and substantial capital value through 100 innovations during the 2010-2020 decade. The blue economy is now a well-established concept traveling through a series of additions and alterations.
The existing economic models have a number of limitations. One of those is continuous pressure to reduce production costs. Since overhead costs occupy a major share of production cost, the organizations have to look for cheap labour and often take such steps as retrenchment of workers at regular intervals as part of keeping overhead costs under check. As a result of low wages and regular retrenchment, a large number of workers always remains unemployed and this large work force have very little purchasing power due to which money supply in the economy shrinks. This shrinkage again squeezes the economy which at one point of time, turns into depression. Caught in this cyclic rotation of events, some big economies are affected by depression. The main philosophy behind blue economy is to break through the cycle and inject life into the economy.  
Blue economy favours small local initiatives rather than large national industries, a policy that curbs influence of monopoly in the production system and protects the rights of the local entrepreneurs. Since commodities are produced and marketed locally under the system, production and transportation costs are also lower.      
Another important aspect of blue economy is management of sea resources. The vast expanse of water over three-fourths of the earth is a storehouse of unlimited resources, both in terms of quality as well as variety. Based on findings of a research, World Economic Forum informs that the world enjoys benefits worth about $38 trillions per year from sea resources. About 90 per cent of the world's merchandise are transported through sea routes. Being situated on the bank of Bay of Bengal, Bangladesh can take advantage of its location, and associate itself gainfully with world economic activities by developing the existing sea ports and constructing a modern deep sea port.  
Tourism is being regarded as one of the burgeoning industries of 21st century and seas and oceans in this case are major contributors. One of the main gainful sectors in present world is ocean based tourism. We have ample opportunities to be a part of this trade with our exquisite natural resources, comprising of the lush greenery, longest natural beach and largest mangrove forest in the world, coral island of St. Martin, tea gardens of Sylhet and picturesque set up at Chittagong Hill Tracts alongside natural heritage sites across the country. Economists perceive, if the trend of progress achieved in tourism continues, it is likely to become one of the most flourishing sectors and the lion's share of its income shall come from sea and ocean based tourism. We have exquisite natural resources, comprising of the longest natural beach and largest mangrove forest in the world, coral island of St. Martin, tea gardens of Sylhet and picturesque set up at Chittagong Hill Tracts alongside natural heritage sites across the country. If the sea ports are developed with proper planning and marine tourism is started, it will open for us a grand new avenue for revenue income.   
Construction industry is now an industry around the world. Historically we have an enviable track record in this respect. The Indian sub-continent had great reputation in ship building from 15th to 17th centuries. Mir Kadim port under Munshiganj was well-known to sea going vessels which regularly negotiated this port. The reputation has come back as sea ocean going ships are now built and exported from here. A number of European countries want their ships to be built in Bangladesh. We spend about $6 billion for transporting our merchandise on foreign ships. According to a local survey, every year about 2600 foreign ships come to Bangladesh. Unfortunately, number of our ships is only 69. If we can expand our fleet and reduce dependence on foreign ships for transporting our merchandise, we shall be able to save a lot of foreign exchange on one hand, and make significant contribution to national economy by introducing coastal shipping, on the other.        
Bangladesh won over India and Myanmar in two separate court battles on maritime boundary that established its full rights on more than 100,000 square kilometers of maritime boundary, exclusive economic zones of 200 nautical miles and rights over all resources under the sea up to 354 nautical miles from Chittagong coast. This has opened the gates for us to procure oil and gas resources accumulated under the sea on one hand and recover land from under the sea on the other. We can emulate the feats of Netherlands, Belgium and Singapore and create additional living areas for this populous country and thereby reduce our population density.
In view of the increasing significance of marine resources, the government has already taken a number of steps aimed at creating efficient manpower required for management of the sea resources. Separate departments of Marine Science have been opened at Dhaka and Chittagong Universities. A national oceanographic research institute is going to be set up at Ramu of Cox's Bazar district which is expected to play a pioneering role to conduct detailed and effective survey of our sea resources and harness higher research on marine sciences.
Economic development raises our living standard but also leaves us open to environmental risk and pollution. There is a growing demand for economic development by protecting environmental balance, which is also the morale of blue economy. Blue economy model will help us protect our environment better and encourage the entrepreneurs to innovate and adapt newer business techniques.
Green living, on the other hand, is sustainable living and is a lifestyle that attempts to reduce an individual's or society's use of the Earth's natural and personal resources. Proponents of sustainable living aim to conduct their lives in ways that are consistent with sustainability, in natural balance and respectful of humanity's symbiotic relationship with the Earth's natural ecology and cycles.
Blue economy ensures sustainable living by reducing our dependence on land resources and utilizing hidden treasures underneath the sea. It serves the twin purpose of minimizing pressures on land resource and allowing the hitherto untapped marine resources to be exploited and brought to everyday use. Essentially, sustainable living is a lifestyle that uses very few resources and leaves the environment as untouched as possible so that future generations will be able to enjoy the same high quality of life that people do today. Thus green living is highly interrelated with the principles of blue economy. Effectively sustainable living is the other side of sustainable development that helps transform life's dream into dream life.

The writer is an Editorial  Consultant at  the FE