GS Paper 3
Syllabus: Indian Economy and related issues/Environment, Conservation
Source: IE
Context: The Comptroller & Auditor General of India (CAG) will chair SAI20 – the Engagement Group for Supreme Audit Institutions (SAls) of G20 countries in Goa.
What is SAI20?
- The SAI20 Engagement Group of G20 was established in 2022 during Indonesia’s Presidency of the G20.
- The constitution of SAI20 stems from a recognition of the role of SAIs in –
- Promoting the efficiency, accountability, and transparency of public administration, and supporting SDG implementation.
- Promoting intergenerational equity and addressing climate change concerns.
Meaning of blue economy and its significance:
- The global annual value of the blue/ocean economy is ~$2.5 trillion.
- About 90% of global trade by volume [75% by value] is carried out through sea routes.
Efforts to promote blue economy:
| Global | India |
| Sustainable Blue Economy Finance Principles (2018): Laid out by the UNEP, the framework can be used by Investors to fund ocean-based industries and Financiers to see how marine investment can impact livelihood and poverty eradication. | The blue economy is one of the 10 core sectors for national growth in India.
|
| COP15 (CBD): It laid out the global biodiversity framework to conserve and sustainably use the planet’s biodiversity. | A National Blue Economy Policy that aims to harness maritime resources while preserving the country’s rich marine biodiversity has been prepared by the Ministry of Earth Sciences. |
| Compendium of Asset Accounts of Natural Resources: This first-ever country-wide handbook (by CAG) sets a national accounting framework for the blue economy. | |
| Conservation of Coastal Ecosystem report by CAG: The audit resulted in focused recommendations to help improve the Coastal Regulation Zone (CRZ) ecosystem. |
Challenges:
- The measurement of the blue economy is challenging due to conflicting definitions and issues while classifying different sectors and sub-sectors.
- Climate change: Sea-level rise, water temperature, storm surges, cyclones and wave conditions are some of the signs.
- Land use changes, sand mining and deforestation impinge on the coastal ecosystem.
In the context of India,
- ~15% of India’s coastal areas have witnessed changes between 1992 and 2018 due to agriculture, depleting forest cover and urbanisation.
- The population living in the country’s coastal areas is expected to rise from 64 million in 2000 to 216 million by 2060.
Two priorities for SAI20 deliberations: Blue economy and responsible Artificial Intelligence (AI).
What is expected in the blue economy deliberations?
- Preparation of technology-driven tools to assess authorised development in coastal stretches and track marine water quality.
- Evolution of globally relevant audit toolkits for coastal spaces, which include –
- Legal and institutional frameworks,
- Compliance with coastal regulations,
- Biodiversity conservation,
- Capacity building and compliance to SDGs.
Way ahead:
- Disaster-resilient infrastructure along coasts
- ICT hubs for early warning systems
- The SAI20 audit toolkits being prepared under the leadership of the CAG of India will provide a unique opportunity for constructive dialogue to improve the auditing of ocean-based activities.
Conclusion: The audit toolkits will help in the assessment of policy goals, and resource efficiency while leveraging economic opportunities towards a truly sustainable blue economy-based global development model.
Insta Links:
Building a blue economy: What India can learn from China
Mains Links:
Defining the blue revolution, explain the problems and strategies for pisciculture development in India. (UPSC 2018)
