4 August, 2020 Intern

Sustainable economy in the oceans

This July Diario de Mallorca and Prensa Ibérica hosted a digital meeting analysing the ocean preservation initiatives proposed by the United Nations. The conference looked at the Mediterranean Fund which was created by well-known bank Banca March and two environmental experts spoke about the great challenges of the marine ecosystem.  

What is the Mediterranean Fund?  

The fund created by the Spanish bank focuses on the ocean economy and seeks sustainability and profitability. It is divided into two parts: the economy of the oceans and the economy of water. The question we all ask ourselves is: why should we invest in this project?  

The Director General of March A. M., explained the reasons that make this fund an investment in the future. If we look at the economics of the oceans as a country, it would be roughly among the ninth and tenth positions within the world economies, generating more than 30 million jobs.  

Environmental issues were also mentioned that highlight the importance of the sea as an investment. For example, 30% of carbon dioxide emissions are absorbed by the sea. This means that, if we did not have the oceans, pollution would increase dramatically.  

With regard to investment in water, according to external research and that of Banca March, the demand for water is expected to grow by 70% in the coming years. One of the reasons for this increase is that 6 out of every 10 people at the moment do not have access to drinking water, which makes it a priority issue for the future.  

In terms of investment, we know that the fund invests in about 45 companies around the world. Each of these companies is scrutinised to ensure that it meets all requirements, both economic and environmental. Banca March analyses parameters such as the amount of water the company spends, the carbon dioxide emissions it emits or also the percentage of women working in the company. In this large group of companies, we find 2 Spanish companies: Melià and Iberdrola.  

We should also take into account that this fund makes a significant donation of all the income the company receives as a commission for the management of the fund, allocating 10% to finance projects of entities that care for and preserve the seas.   

Problems with the Balearic marine ecosystem  

Manu San Felix and Gabriel Morey spoke about Mediterranean Posidonia and other environmental factors. They explained that one of the main enemies of the sea grasses are the purification plants. However, we must not forget the role of boats either, since when they drop their anchors, they often damage the seabed. For this reason, an application called Posidonia Maps has been created, with which the position of the Posidonia can be known, almost to the millimetre, avoiding its deterioration.   

Finally, another topic discussed was the overexploitation of marine fauna. Especially, about the need to self-regulate in order to recover fishing without endangering the survival of some marine species.  

These experts explain that we must be positive about the environmental issue, since in recent years we have seen a great social change that makes possible a more sustainable and safe future for our seas.  

 

Sustainable economy in the oceans

Sustainable economy in the oceans

These experts explain that we must be positive about the environmental issue, since in recent years we have seen a great social change that makes possible a more sustainable and safe future for our seas.  

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