Today, 17 May, the European Commission is proposing a new approach for a sustainable blue economy in the EU for the industries and sectors related to oceans, seas and coasts.  A sustainable blue economy is indeed essential to achieving the objectives of the European Green Deal and ensuring a green and inclusive recovery from the pandemic.

The Communication sets out a detailed agenda for the blue economy to:

• Achieve the objectives of climate neutrality and zero pollution notably by developing offshore renewable energy, by decarbonising maritime transport and by greening ports.
• Switch to a circular economy and reduce pollution – including through renewed standards for fishing gear design, for ship recycling, and for decommissioning of offshore platforms and action to reduce plastics and microplastics pollution.
• Preserve biodiversity and invest in nature - protecting 30% of the EU's sea area will reverse biodiversity loss, increase fish stocks, contribute to climate mitigation and resilience, and generate significant financial and social benefits. 
• Support climate adaptation and coastal resilience – adaptation activities, such as developing green infrastructure in coastal areas and protecting coastlines from the risk of erosion and flooding will help preserve biodiversity and landscapes while benefiting tourism and the coastal economy.
• Ensure sustainable food production - sustainable production of and new marketing standards for seafood, use of algae and seagrass, stronger fisheries control as well as research and innovation in cell-based seafood will help to preserve Europe's seas. 
• Improve management of space at sea – the new Blue Forum for users of the sea to coordinate a dialogue between offshore operators, stakeholders and scientists engaged in fisheries, aquaculture, shipping, tourism, renewable energy and other activities will stimulate cooperative exchange for the sustainable use of marine environment. 

The European Commission and the European Investment Bank Group, made of the European Investment Bank and the European Investment Fund (EIF), will increase their cooperation on achieving a sustainable blue economy. The institutions will work jointly with Member States to meet existing financing needs to reduce pollution in European seas and support investment for blue innovation and blue bioeconomy.

Projects in this field will be financed through the new European Maritime, Fisheries and Aquaculture Fund - especially with its ‘BlueInvest' platform and the new BlueInvest Fund. Moreover, in order to further finance the transformation, the Commission has urged Member States to include investments for a sustainable blue economy in their national resilience and recovery plans as well as their national operational programmes for various EU-funds from now to 2027. Other EU programmes, such as  Horizon Europe, will also contribute to achieving these objectives.

B2EU Consulting can help private or public actors to gain access to means of financial or legislative support. Our boutique consulting firm is specialized in European funds and can assist industries with positioning themselves favourably for financial support and a smooth transition to a greener future.

Image © European Parliament, 2021