Latest EU Blue Economy report – marks a milestone in advancing the sustainability agenda

The seventh edition of the EU Blue Economy Report has been published and marks a significant milestone for the European Union in advancing its sustainability agenda.

The report delves into the progress in the energy transition for climate change, and technological challenges and goals. It also investigates the potential impacts of coastal floods on ecosystem services and assesses economic resilience along the EU-27 coastline.

Overview of challenges and opportunities 

Most notably, in 2023, the European Commission made major steps in its 'Fit for 55' policy package aimed at reducing the EU's carbon footprint, adopting key initiatives like the FuelEU Maritime Regulation and extending the EU Emissions Trading System (EU ETS) to the maritime sector as of January 2024. In 2023, the European Commission also advanced its Ocean and fisheries package, establishing the Energy Transition Partnership in EU fisheries and aquaculture. 

An overview of the latest trends in the EU’s blue economy sector is presented in the report. Thus, it provides sector-specific, socio-economic knowledge to support informed decisions by policy-makers, blue economy operators, and stakeholders. Most importantly, it gives a broader picture of the challenges and opportunities faced by all sectors in the EU, as well as the main drivers to attain its potential, based on the most recent available data. Furthermore, this research highlights the need for a sustainable strategy, climate change adaptation, and marine ecosystem service integration in marine resource management, focusing on nature-based solutions and sustainable blue growth.

This year’s report also includes special sections on Energy transition and Climate Change in the EU maritime transport, on the EU fishing fleet and the partnership in fisheries and aquaculture as well as a section on Coastal flood impacts due to climate change along the EU27 coastline, with a particular reference to the EU Outermost Regions.

Ocean energy experienced significant growth 

The report highlights ocean energy, a key sector that has experienced significant growth in recent years. Currently, the EU leads the way in developing energy from waves, tides, and offshore wind, integrating these renewable sources into the broader energy landscape to meet its renewable energy targets and climate objectives.

The EU Blue Economy Observatory complements the information provided by the report, the online knowledge gateway that offers regular updates on the performance per sector, activity, and country. In addition to a detailed overview of all Blue Economy sectors, the Observatory sheds light on their potential for economic growth, sustainability transition, and job creation.  The detailed methodology followed in this report can also be explained on the Blue Economy Observatory website. 

Read the full report