If the ocean was a state of its own, it would be the seventh largest economy in the world – with a “gross marine product” of at least US$ 2.5 trillion per year. This Blue Economy is underpinned by diverse ecosystems that provide valuable services to the world, be it fishing, tourism or shipping. On the one hand, the ocean is undoubtedly an important part of the world economy. On the other hand, its asset base, that is to say its capital, is steadily declining. This is because the sea is a commons. A large number of countries and stakeholders have a share in the Blue Economy and benefit from the dividend. But without sustainable management, the “capital stock” is sooner or later exhausted.
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