Navigating Sustainable Blue Growth

Archipelagic and Island States (AIS) Blue Economy High-Level Dialogue and AIS StartUp Blue Business Summit

At the forefront of promoting sustainable practices in coastal regions, Westerlaken Foundation/Yayasan Bali Bersih actively participated in AIS Blue Economy High-Level Dialogue and AIS StartUp Blue Business Summit, held from October 9th to 11th, 2023. Over a decade has passed since the term 'blue economy' reverberated among global leaders during the 2012 Rio+20 Conference. With the subsequent adoption of SDG 14, the world's commitment to "Life Below Water" has grown stronger. Notable international agreements, such as the Kunming-Montreal Global Biodiversity Framework and the Biodiversity Beyond National Jurisdiction (BBNJ), have been embraced. World leaders continue to emphasize the significance of the blue economy in various strategic gatherings.

Nevertheless, despite being the stewards of our oceans, most archipelagic and island states have yet to fully capitalize on the blue economy's potential. This is evident from the insufficient private investment and financial resources dedicated to blue economy initiatives in these regions. Several factors contribute to this scenario, including inadequate infrastructure, limited fiscal capacity, and perceived risks associated with debt and climate vulnerability.

As we embark on a new era of sustainable blue growth, it becomes our shared responsibility to ensure that no one is left behind. Archipelagic and island states, which are especially vulnerable to climate change, must be given the opportunity to reap the benefits of the burgeoning blue economy.

To address this challenge, AIS Blue Economy High-Level Dialogue and AIS StartUp Blue Business Summit are scheduled from October 9th to 11th, 2023. The primary objectives of this event include:

1. Launching AIS Blue Hub and AIS Research and Development Centre.

2. Gathering world leaders, experts, investors, and business leaders to foster meaningful collaboration in the blue economy.

3. Facilitating comprehensive discussions to pinpoint opportunities and hurdles in creating robust blue financing mechanisms for archipelagic and island states.

4. Encouraging the exchange of knowledge and expertise among participants to enhance the capability of these states in initiating, executing, and overseeing blue economy projects.

5. Key participants in this event comprise Ministries/Agencies from the Republic of Indonesia, business and industry leaders with a focus on sustainability and the blue economy, startups from thirty AIS countries, experts, academics, practitioners, and representatives from development partners, institutions, NGOs, and civil society organizations.

AIS Blue Economy High-Level Dialogue and AIS StartUp Blue Business Summit aim to unlock the potential of the blue economy in archipelagic and island states. Through cooperation and inventive financing solutions, these nations can assume a more substantial role in advancing sustainable blue growth and safeguarding our oceans for future generations.