The Potential of the Ocean for Accelerating Decarbonisation
The potential of the ocean for accelerating decarbonisation merits prioritisation in the global climate-change discourse. The ocean presents substantial climate mitigation and carbon storage options to help limit global warming, while simultaneously introducing opportunities for economic gain.
Introduction
A wide variety of stakeholders, including businesses, academics, policymakers, multilateral groups, and non-governmental organisations, are working to further develop and define ocean-based climate solutions. This report captures key narratives around such solutions through four sector-specific categories: clean energy; transport; food systems; and carbon dioxide removal and storage.
Clean Energy
Ocean-based, clean energy technologies hold the greatest emissions potential of all ocean-based climate solutions, and energy solutions are often interwoven into other solutions. Offshore wind has the highest potential for impact, with a theoretical capacity of 18 times today’s global electricity demand. Alternate technologies for energy production, such as wave and tidal stream power, and those linked to other aspects of the decarbonisation supply chain, such as seawater mining and ocean-based biofuel production are still in earlier development phases. However, each holds long-term potential with increased research, design development, and demonstration (RDD&D) support.
Transport
The shipping sector has introduced ambitious carbon reduction goals, but technologies to achieve these targets are not yet mature. Current goals would see the international shipping sector reducing emissions—currently accounting for about 2.9% of total emissions—by at least 50% by 2050. In the long term, technologies such as low- or zero-carbon fuels, and wind-powered ships can reduce carbon emissions, but these solutions require further development and will necessitate large-scale infrastructure overhauls.
Food Systems
Sustainable fisheries and aquaculture offer carbon-friendlier substitutes for terrestrial proteins. Switching to seafood proteins from land-based sources can help reduce greenhouse gas emissions substantially. In order to maximize these benefits, sustainable aquaculture operations will need to grow significantly as global fishing stocks are at capacity, and both aquaculture and wild-catch operations will need to be further decarbonised.
Carbon Dioxide Removal and Storage
The capacity of the ocean to absorb carbon could be enhanced through restoration, protection, and engineering of marine and coastal habitats (known as blue carbon), as well as through more “technical” solutions. The ocean already absorbs approximately 25-30% of global CO2 emissions, though this has contributed to ocean acidification. Protecting and restoring mangroves, salt marshes, seagrass, and seaweed can maintain and support the ocean’s role in carbon sequestration. A variety of options that could have larger and more disruptive impacts on the ocean environment are also being developed, such as ocean alkalinisation and electrochemical removal of carbon. Further testing and assessment of carbon dioxide removal solutions need to be accelerated, both to limit the potential harm, but also to understand how worthwhile investments will be as the world seeks methods of rapid decarbonisation.
Investment and Support
Unlocking the decarbonisation and concurrent economic potential of the ocean will require sufficient investment and support to overcome tremendous logistical and technical challenges. Given that the ocean comprises 70% of the planet and holds enormous opportunities for addressing climate change, these challenges should be seen as opportunities for productive action rather than as barriers. According to one estimate, each dollar invested in the sustainable ocean economy will yield at least five dollars in return, and the OECD forecasts that ocean-based solutions could create US$3trn in additional revenue and cost savings in 2030. Tens or hundreds of billions of dollars of investment will be required to tap into the potential of the ocean for climate change mitigation and economic growth. Ongoing blue finance innovation must continue in order to enable these investments. Coordination is key. Further effort is needed to improve data collection and management, which facilitate the full lifecycle of ocean solutions. Global standards must be harmonized in order to set common measures and benchmarks. Improved stakeholder alignment would help clarify the policy agenda. RDD&D will be crucial for accelerating the development of solutions.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
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SDG 7: Affordable and Clean Energy |
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SDG 9: Industry, Innovation, and Infrastructure |
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SDG 13: Climate Action |
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SDG 14: Life Below Water |
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SDG 15: Life on Land |
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Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
The issues highlighted in the article are connected to the following SDGs:
– SDG 7: Affordable and Clean Energy
– SDG 9: Industry, Innovation, and Infrastructure
– SDG 13: Climate Action
– SDG 14: Life Below Water
– SDG 15: Life on Land
2. What specific targets under those SDGs can be identified based on the article’s content?
Based on the article’s content, the specific targets that can be identified are:
– Target 7.2: Increase substantially the share of renewable energy in the global energy mix
– Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes
– Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries
– Target 13.2: Integrate climate change measures into national policies, strategies, and planning
– Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning
– Target 13.5: Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change to a goal of mobilizing jointly $100 billion annually by 2020 from all sources to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and fully operationalize the Green Climate Fund through its capitalization as soon as possible
– Target 14.2: Sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans
– Target 14.7: Increase the economic benefits to small island developing states and least developed countries from the sustainable use of marine resources, including through sustainable management of fisheries, aquaculture, and tourism
– Target 15.5: Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity, and protect and prevent the extinction of threatened species
3. Are there any indicators mentioned or implied in the article that can be used to measure progress
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Fuente: impact.economist.com
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