Sustainable Blue Economy Conference held in Nairobi, Kenya

• The Sustainable Blue Financial system Meeting was held in Nairobi, money of Kenya.

• It was structured by Kenya and cohosted by Japan and Canada.

• The concept of this meeting was ‘The Blue Economy and the 2030 Agenda for Sustainable Progress.’

Sustainable Blue Economic climate Meeting

• This meeting was held on momentum of UN’s 2030 Agenda for Sustainable Development, 2015 Weather Improve Convention in Paris and UN Ocean Conference 2017 ‘Call to Motion.

• Around 17,000 plus participants from some 184 countries had participated in the convention. India was represented Union Minister for Shipping, Highway Transport & Highways, Drinking water Resources, River Enhancement and Ganga Rejuvenation Nitin Gadkari.

• Other parties who participated in this conference are Entire world Wildlife Fund, WWF International Maritime Business, IMO Worldwide Seabed Authority, ISA orld Financial institution AFRIEXIMBANK Ocean Foundation and so forth.

Background

• Blue Economic system is economic advantage and price that is understood from Earth’s coastal and marine ecosystem.

• Sustainable Blue Economy is maritime-centered economic climate that presents social and financial positive aspects for existing and future generations, restores, shields and maintains range, productiveness and resilience of maritime ecosystems.

• It is also centered on cleanse systems, renewable power, and round material flows.

• Blue Financial system is very essential for India’s economic advancement. India has strategic spot in Indian Ocean area (IOR), and on this foundation, it endorses growth of Blue Economic system in sustainable, inclusive and persons centred fashion by means of framework of Indian Ocean Rim Association (IORA).

• India is also producing its maritime infrastructure as properly as its inland waterways and coastal transport by launch of the bold “Sagarmala Programme” which aims to revolutionize maritime logistics and port led developments in place.

• India’s nationwide eyesight about this sector is obviously articulated in phrase “SAGAR”- Protection and Growth for All in IOR which was coined by Prime Minister Narendra Modi.

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Mains Paper 3: Economy

Prelims level: Blue Economy Conference

Mains level: Read the story

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