Blue economy meaning

The EU glossary brings together and clarifies terms regularly used in EU law. Blue economy The European Union’s blue economy covers all activities and sectors linked to oceans, seas and coastlines, whether operating directly in the marine environment (eg shipping, seafood, energy production) or on land (eg ports, shipyards, coastal infrastructures). Circular Economy Action Plan In March 2020, under the European Green Deal, the European Commission adopted a new Circular Economy Action Plan (CEAP). The CEAP seeks to: make sustainable products the norm across the EU prioritise sectors likely to be highly affected by circularity, such as construction and buildings, batteries and vehicles, water, packaging, plastics, batteries, electronics empower consumers and public procurers cut waste For further details on the CEAP, see News Analysis: New circular economy action plan published, Sustainable products and supply chains (EU Law)—overview and Practice Note: EU Environment—horizon scanner, which covers key new and upcoming EU legislation and consultations relating to waste regulation,...

The ‘Blue Economy’ The Blue Economy comprises economic activity that both depends upon, or exerts an effect on, coastal and marine resources. As set out by the International Finance Corporation (IFC), the blue (or ocean) economy is projected to double in size to US$3tn by 2039, employing 40 million people worldwide when compared with 2010. The financial sector will be central to this trajectory overall and, although the space is still relatively new, it indeed appears that blue bonds in particular are set to play a significant role in realising a sustainable blue economy. This Practice Note considers: what blue bonds are blue bond issuances in the market the steps involved in issuing a blue bond the prospects for blue bonds The potential, and rising prominence, of blue bonds is illustrated by the publication of Bonds to Finance the Sustainable Blue Economy (the Guidance), the product of a collaboration between the Asian Development Bank (ADB), International Capital Market Association...