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1 1 (August 5, 2022)

handle is hein.crs/goveibs0001 and id is 1 raw text is: Con gressionol Research Service nforming the Iegislitive debate since 1914 August 5, 2022 What Is the Blue Economy? Marine economic activity, which may include activities occurring in the ocean, coastal areas, and Great Lakes, is important for economic growth, jobs, and livelihoods around the world, and particularly in coastal communities. However, some marine economic activities contribute to overexploitation of living (e.g., fisheries) and nonliving (e.g., oil, minerals) marine and coastal resources. This In Focus discusses various definitions of the term blue economy; provides an estimate of the monetary value of the U.S. blue economy; and presents policy considerations for Congress, including a discussion about the possible need for a statutory definition of the blue economy and legislative support for its associated activities. Blue Econom y Definitions There is no agreed-upon definition of the term blue economy. The use of the term varies among and within countries, organizations, and institutions. Definitions of the term generally fall into two categories. One variation of the definition refers to the blue economy as the collective economic value of the resources, uses, and activities of the ocean and coasts. This definition may be used interchangeably with other terms, such as ocean economy and marine economy. This In Focus uses this definition of the term blue economy. Another variation of the blue economy definition refers to the use of ocean and coastal resources to balance economic prosperity and environmental sustainability, in line with how the term was first introduced and used at the 2012 United Nations Conference on Sustainability. For example, the World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health. In this definition, the blue economy refers to the efforts of nongovernmental organizations, federal agencies, or others to promote sustainable ocean development, which contributes to maintaining the ocean's ecological health and ensuring the long-term viability and economic growth of marine-based industries. Congress has not defined the term blue economy in statute. Federal officials have used both of the above variations of the term in the context of federal programs. Some examples include the following: * The National Oceanic and Atmospheric Administration (NOAA) defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods and job creation. * The Department of State reports that the purpose of the blue economy is to advance ocean heath alongside economic prosperity, providing sustainable food, power, and transportation. * The Department of Energy (DOE) describes the blue economy as comprised of sectors and activities that span commerce and trade; living resources; renewable energy; minerals, materials, freshwater; and ocean health and data and notes that many of these sectors show an increased focus on sustainability. Value of the US. Blue Economy In the United States, the Bureau of Economic Analysis (BEA) tracks revenues and jobs associated with the marine economy. BEA considers the following activities to be part of the marine economy: living marine resources, coastal and marine construction, marine research and education, marine transportation and warehousing, marine professional and technical services, offshore minerals, coastal utilities, coastal and offshore tourism and recreation, nonrecreational ship and boat building, and national defense and public administration. Some may consider the value of the marine economy as a potential index of the value of the U.S. blue economy. In 2019, BEA reported that the U.S. marine economy portion of the gross domestic product (GDP) grew faster than the nation's economy as a whole. In 2020, the most recent year for which data are available, BEA found the marine economy accounted for 1.7%, or $361.4 billion, of the U.S. GDP, with coastal and offshore tourism and recreation as the largest contributor, at $190.9 billion. Some organizations have attempted to estimate the worth of a potentially similar group of ocean-based activities, termed the ocean economy. For example, the Organisation for Economic Co-operation and Development (OECD) defined the ocean economy to include water transportation; port activities; maritime and coastal tourism; industrial fish processing, capture, and marine aquaculture; exploration and production of offshore oil and gas and wind; shipbuilding and repair; and manufacture of marine equipment. In 2016, the OECD projected the global ocean economy could double in total value added to $3 trillion by 2030. Policy Considerations Congress may consider several issues related to the blue economy, including how the term is defined and valued and legislative support for its associated activities. Need for a Blue Economy Definition? Several bills introduced in the 117th Congress aim to codify the term blue economy. Some bills would define blue economy as an activity, whereas others would define it as 0

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