EUROPE – The European Commission has launched a new call for proposals under the European Maritime, Fisheries and Aquaculture Fund (EMFAF), offering grants totaling US$6.25 million to support flagship projects that aim to enhance a sustainable blue economy across European maritime areas.
This funding initiative is intended to back initiatives centered on Smart Specialisation, Regenerative Ocean Farming, and Algae Innovation.
The primary objective of this initiative is to tap into the vast resources of European seas and coastlines to drive innovation and technological advancement, in line with the EU’s vision of fostering a sustainable, circular economy while striving for net-zero climate goals.
The first funding topic emphasizes the creation of strategic interregional partnerships and the development of innovative solutions in various sectors, including fisheries, aquaculture, marine renewable energy, blue biotechnology, and coastal and maritime tourism.
The funding is specifically aimed at activities in the Black Sea, Atlantic, Western Mediterranean Sea, and EU Outermost regions.
Projects that fall under this category will investigate the viability and environmental advantages of regenerative ocean farming, which encompasses seaweed and shellfish cultivation, while also promoting innovation in the algae sector.
Recent data indicates that the blue economy showed signs of recovery in 2021, with the gross operating surplus rising by 73% compared to 2020, reaching approximately US$81.5 billion.
Employment in the sector increased by 17%, accounting for 1.8% of the EU’s workforce.
Established sectors within the EU blue economy directly provided jobs for nearly 3.59 million individuals and generated about $735 billion in turnover, alongside a gross value added (GVA) of approximately US$185.3 billion.
These sectors include marine living resources, marine non-living resources, marine renewable energy, port operations, shipbuilding and repair, maritime transport, and coastal tourism.
Coastal tourism, despite facing challenges in the aftermath of the 2020 pandemic, continued to represent the largest share of employment and GVA within the EU blue economy, contributing 54% of employment and 29% of GVA.
The significant recovery indicates that the EU blue economy in 2021 was on a trajectory to reclaim its pre-pandemic value, although it remained below the US$201.5 billion GVA recorded in 2019, primarily due to the slow recovery of coastal tourism as travel restrictions persisted in various EU nations.
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