A source for Arctic optimism: The Blue Bioeconomy
Date and Time: Tuesday, 28 January 2020, 16:15-17:45
The blue bioeconomy has the potential to be a major contributor to achieving sustainable development in the Arctic and beyond. The term “blue bioeconomy” refers to sustainably maximising the value and use of aquatic bioresources using innovative processing methods. It is a source for great optimism for the circumpolar region.
Today, estimates reveal that up to 43% of captured fish and shellfish resources end up either as wastage or discarded material. This means that companies are throwing away 43% of the biomass that could potentially generate substantial profits by developing methods for turning “waste” into high value products for food, feed, bio-products and bioenergy sectors. The blue bioeconomy is a kind of back to basics thinking in the sense that it revolves around making the most of available resources, and maximizing the value of and revenue from marine catches while minimizing waste and negative environmental impacts of marine operations.