In the midst of a global economy facing many challenges, the ocean is increasingly viewed as a promising economic frontier, and investments in the blue economy have surged. However, if the blue economy is promoted without integrating equity, it could result in widespread injustice. Ensuring ocean equity is essential in promoting durable economic growth, enhancing social stability, and unlocking the full potential of the ocean as a sustainable resource.

As nations worldwide strive to recover from the economic disruption caused by the COVID-19 pandemic and the ripple effects of global oil conflicts, the outlook for economic growth in 2024 remains tepid. The International Monetary Fund (IMF) and the World Bank project stable but underwhelming global economic growth. This weak trajectory is faced with multiple crises. In its 2023 report, the World Economic Forum identified key challenges such as the cost-of-living crisis, rising inflation, and food supply disruptions, which continue to impact economies globally.
Amid these challenges, the ocean is increasingly viewed as a promising economic frontier. The concept of the "blue economy" facilitates such perception. Investments for blue economy initiatives have surged, increasing globally by more than fourfold over the past eight years, according to Dealroom. Furthermore, blue economy sectors have demonstrated resilience compared to the land-based production. The European Union's 2024 Blue Economy Report highlights that many of its blue economy sectors improved their economic performance despite the dual shocks of the COVID-19 pandemic and soaring energy prices.

The absence of a universally accepted definition of the blue economy has led to varying interpretations. Often, the concept is used to justify ocean-based exploitation under the guise of development. However, organizations such as the United Nations emphasize sustainable practices when defining the blue economy. Most definitions underlined sustainability, acknowledging that the ocean can be more productive if the ecosystem is healthy and sustained. The term "sustainable ocean-based economy" is often used to balance exploitation with conservation.

Table 1
Comparison of definitions from prominent organizations:

Definitions of the Blue Economy	Source
Sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.	World Bank
All economic activities related to oceans, seas and coasts. Blue economy covers a wide range of interlinked established and emerging sectors	European Commission
Economic activities of ocean-based industries, as well as the assets, goods, and services provided by marine ecosystems. It aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development.	The Organization for Economic Cooperation and Development (OECD)
An approach put forward by the international community to take into account the health of the oceans and seas as we strive to balance the three dimensions of sustainable development: economic, social and environmental.	United Nations Development Programme (UNDP)

While sustainability is a common theme, equity and justice often take a backseat in most of the definitions. Ocean inequity can be a consequence of such definitions. As found by a study by Nathan Bennett et al. in 2020, there are several forms of injustices that can be produced by a blue economy that is focusing on growth.

Ocean inequity arises from four key symptoms of injustice:

1. 1. Uneven Access to Benefits from Ocean Resources: Small-scale fishers often lack access to high-value markets, while large-scale fisheries dominate the economic benefits.
2. 2. Disproportionate Exposure to Environmental Hazards and Harms that are Occurring in the Marine and Coastal Environment: Marginalized coastal communities face heightened risks from environmental issues such as rising sea levels.
3. 3. Exclusion from Decision-Making: Limited participation of vulnerable groups in policy development leads to equity-blind policies.
4. 4. Human Rights Violations: Reports, including those from the International Labour Organization, highlight issues such as forced labor and human trafficking in the fisheries sector.

These injustices are often linked to broader issues of gender and racial inequality.
Addressing ocean inequity is crucial not only for ethical reasons but also for sustained economic growth. Inequity-related consequences, such as health problems and social instability, can impose significant costs, ultimately undermining growth. In other words, a focus on social equity can make growth more durable. For instance, ensuring equity for small-scale fisheries is important to sustain their significant contribution of catches which support food security and provide livelihoods for many fishers, which help nations control unemployment and poverty rates.

In general, ensuring ocean equity can be done through three governance orders: values/principles/norms; institutions; and the community’s ability to defend and strive for their rights. Four key strategies can guide these efforts. First, rethinking the growth paradigm that is embedded in the blue economy concept and integrating measures around equity and justice. For quite some time, the world has been focusing growth on GDP, accommodating the growing anthropogenic pressures. This ultimately led to numerous crises, including the impacts of climate change. A shift in paradigm to a model that integrates equity and justice is needed. This involves embedding equitable principles into the norms guiding blue economy implementation.
Second, ensuring a transparent and inclusive governance with public service-oriented characteristics. Transparent and inclusive policy making ensures that marginalized communities have a voice in decisions affecting their lives, fostering equity-activating policies. Third, ensuring access to justice. This includes empowering marginalized communities to understand their rights, fostering the civil rights movement, and ensuring that delivery of justice is impartial and non-discriminatory. Fourth, redirecting financial flows investing in the blue economy to efforts that ensure ocean equity. This includes allocating investments toward small-scale fisheries and community-led coastal management, rather than exclusively favoring large-scale enterprises.

Integrating equity into the blue economy framework is essential to prevent policies that perpetuate injustice and social instability. By addressing inequities, nations can promote durable economic growth, enhance social stability, and unlock the full potential of the ocean as a sustainable resource. These efforts must prioritize the well-being of marginalized communities and foster an inclusive approach to governance and development, ensuring that the benefits of the blue economy are equitably shared.