A sustainable path to lasting recovery for Small Island Developing States lies in the ocean and the building of a robust blue economy

The document highlights the severe economic impact of COVID-19 on Small Island Developing States (SIDS), noting a 7.1% GDP contraction in 2020. It presents Fiji as a model for a 'blue recovery,' utilizing the Blue Recovery Hubs initiative and the High Level Panel for a Sustainable Ocean Economy to transition toward a sustainable ocean economy. Fiji's strategy includes a National Ocean Policy to establish a blue economy by 2030, a Climate Change Act targeting a net-zero economy by 2050, and a moratorium on seabed mining until at least 2030.

• Small Island Developing States (SIDS) experienced a more severe economic downturn during the pandemic than other developing nations, with a 2020 GDP contraction of 7.1% compared to 4.4% in other developing countries, largely due to their dependence on fisheries and tourism.
• Fiji's economy suffered a 15.7% contraction in the first year of COVID-19, driven by the collapse of tourism, which previously accounted for 38.9% of its GDP, and disruptions to tuna export trade channels.
• Investment in a sustainable ocean economy is projected to be highly profitable, with research indicating a return of $5 for every $1 invested over a 30-year period.
• Fiji has implemented five specific commitments to ensure a sustainable ocean: a National Ocean Policy for a blue economy by 2030, a Climate Change Act aiming for a net-zero economy by 2050, a pledge to sustainably manage 100% of its national ocean area via the Ocean Panel, a moratorium on seabed mining through 2030, and the pursuit of sustainable financing and business models.
• The Blue Recovery Hubs (BRH) initiative, a partnership involving the OECD, Friends of Ocean Action, and the World Economic Forum, aims to accelerate economic recovery in SIDS by enhancing the sustainability of existing ocean sectors and creating new opportunities for economic diversification.

APA

Gounder, S. K. (2022). A sustainable path to lasting recovery for Small Island Developing States lies in the ocean and the building of a robust blue economy. World Economic Forum. https://www.weforum.org/stories/nature-and-biodiversity/the-futures-small-island-developing-states-like-fiji-lie-in-the-ocean-and-a-robust-blue-economy/

Chicago

Gounder, Shiri Krishna. A sustainable path to lasting recovery for Small Island Developing States lies in the ocean and the building of a robust blue economy. World Economic Forum, 2022. https://www.weforum.org/stories/nature-and-biodiversity/the-futures-small-island-developing-states-like-fiji-lie-in-the-ocean-and-a-robust-blue-economy/.

Wikipedia

{{cite press release |last1=Gounder |first1=Shiri Krishna |title=A sustainable path to lasting recovery for Small Island Developing States lies in the ocean and the building of a robust blue economy |publisher=World Economic Forum |date=28 June 2022 |url=https://www.weforum.org/stories/nature-and-biodiversity/the-futures-small-island-developing-states-like-fiji-lie-in-the-ocean-and-a-robust-blue-economy/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{gounder2022sustainable, author = {Gounder, Shiri Krishna}, title = {{A sustainable path to lasting recovery for Small Island Developing States lies in the ocean and the building of a robust blue economy}}, publisher = {World Economic Forum}, year = {2022}, month = jun, url = {https://www.weforum.org/stories/nature-and-biodiversity/the-futures-small-island-developing-states-like-fiji-lie-in-the-ocean-and-a-robust-blue-economy/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }