Two years ago, economists put a dollar value on what our oceans are worth and came up with $24 trillion. If it were a country, the sea would be the seventh-largest economy on the planet.
“When you look at the blue economy, it has an asset value of $24 trillion and that’s delivering something between $4-500bn each year in terms of the dividend to humanity,” says Professor Ove Hoegh-Guldberg, director of the Global Change Institute.
“But even with the amount of degradation that’s going on, we’re still deriving great benefits. The real interesting issue is that if we can reverse the tide of degradation, then we should be able to build the $24 trillion asset.”
Al Jazeera’s Step Vaessen reports on how ocean waste is making its way into our food. Also exploring the blue economy, Jacob Ward reports on how commercial fishermen are dealing with the effects of overfishing.
Also on this episode of Counting the Cost: