The Blue Economy: Perspectives from the private sector

One important side event during the Ocean Conference held last week at the United Nations was the meeting co-organised by the Ocean Foundation and Rockefeller & Co. on the topic “The Blue Economy”.

The meeting started with a speech from Mr Mark J. Spalding’s, who highlighted that the ocean generated economic values that were not usually quantified, and that we should stop taking the ocean for granted. He further stated that the old ocean economy, such as offshore oil and gas, was short-sighted and unsustainable. Mr. Spalding has worked with the Ocean Foundation to identifying business activities that comprise a sustainable blue economy.

In addition to the discussions, Mr Rolando F. Morillo presented the concept of ‘circular economy’: a restorative and regenerative model which emphasizes on reducing, reusing and recycling. It can enable increased value while reducing dependence on scarce resources. Mr. Rolando has faced challenges at the Rockefeller Foundation on how to crack the linear mindset as some companies may felt ‘locked in’.

Meeting: The Blue Economy (Perspectives from the private sector)

Date/Location: Thursday, June 8, 2017; 18:15-19:30; Conference Room 7, United Nations Headquarters,NewYork,NY
Speakers:  Mr Mark J. Spalding, the President of the Ocean Foundation; Mr Rolando F. Morillo, Vice President and Equity Analyst for the Sustainability and Impact Investing Team, Rockefeller & Co.

Written by: WIT Representative Brady Leung

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