Blue Economy

What is the blue economy?

September 15, 2021

Respecting Ocean Resources for Economic Growth

The blue economy involves companies dedicated to offering products and services that protect ocean resources for economic growth or what many are calling the oceanic economy, including improved livelihoods and jobs, and the overall health of the world’s oceans. The blue economy includes many activities: waste management, compostables, sustainable fishing, renewable energy, more efficient maritime transportation, and ecotourism, among others.

According to the Government of Canada, the blue economy is an economy driven by sustainable ocean resources and accounts for about $31.65 billion annually in GDP. It is the source of almost 300,000 Canadian jobs with direct, indirect and induced benefits in diverse sectors. With the goal of creating equal, or better, alternative products, while keeping the planet in mind, the blue economy offers an opportunity to explore other methods that will support the demand for basic human necessities like food and water as well as innovative products and services.

Billy GOAT blue economy turtle

Billy Goat Brands (CSE:GOAT) and The Blue Economy

Billy Goat Brands continues to be at the forefront of sustainable investing, by allocating its capital to investee companies with ESG-based values (Environmental, Social, Governance) that contribute to the greater good of society through innovative food technologies, functional foods and plant-based alternatives.

Billy Goat Brands is focused on creating diversified exposure to expansion-stage companies for investors. Billy Goat Brands’ investee company, Sophie’s Kitchen, is a blue economy business and one of the leading vegan seafood alternative brands on the market.

Sophie’s Kitchen

Sophie’s Kitchen is one of Billy Goat Brands’ investee companies and a leading California-based manufacturer and distributor of disruptive plant-based seafood alternatives. Sophie’s Kitchen provides tasty and nutritious food, while believing that its business should safeguard the environment.

In order to keep up with the demand of vegan and vegetarian seafood alternatives, Sophie’s Kitchen has developed a unique line of various plant-based options including shrimp and “toona” (available on Amazon and select retail grocers).

Sophie’s Kitchen is focused on creating a sustainable business while creating innovative products to help our oceans and support the oceanic economy. Their plant-based seafood products not only appeal to vegans and vegetarians, but also to anyone who wants to make a difference and contribute to saving the world’s ocean ecosystems.

“We believe that plant-based seafood alternatives should be available for everyone, everywhere. That’s why we spent years creating a seamless seafood experience nearly indistinguishable from their animal-based counterparts.”

Miles Woodruff

CEO, Sophie’s Kitchen

Sophies Kitchen vegan shrimp

What are the benefits of investing in the blue economy?

As ESG (environmental, social, governance) values become a more common investment driver, the blue economy has garnered interest among those who see the opportunity to drive change through innovative businesses. The financial community is bringing sustainable investment to the forefront, but still more needs to be done in order to resolve various climate issues and better utilize scarce global resources including our oceans. Consumption habits, especially with respect to food, have a significant impact on the planet. Traditional meat and seafood products continue to produce a large amount of waste and emissions.

Sophies Kitchen vegan shrimp

Why invest in the blue economy?

The global economic output of blue economy activities is currently valued at USD $1.5 trillion 3

Technological innovation will reduce the reliance on oceans as a main food source

Seafood continues to be the fastest growing sector by 2030 with only 60% of fish available for consumption 3

The ocean has the ability to absorb up to one third of annual anthropogenic CO2 emissions 3

The ocean could provide over six times more food than it does today – more than two thirds of the animal protein that will be needed to feed the future global population 2
The blue economy provides a smaller carbon footprint, aquaculture is estimated to to be 0.45% of global emissions which is lower than livestock emissions of 14.5% 3

1 – Source:  https://www.canada.ca/en/fisheries-oceans/news/2020/12/canada-commits-to-growing-the-blue-economy-at-home-and-around-the-globe.html

2 – Source: https://thefishsite.com/articles/research-suggests-that-the-blue-economy-could-bolster-global-food-security

3 – Source: https://earth.org/blue-economy/ 

Investing in businesses that provide alternatives to traditional meat and seafood products, like plant-based seafoods and fish, will pave the way for a healthier planet. The world’s oceans continue to be depleted from overfishing. However, companies like Sophie’s Kitchen are making plant-based seafood and fish products so we can continue to enjoy the flavours of the ocean while helping to alleviate some of the aforementioned issues!

In summary, Billy Goat Brands (CSE: GOAT) is proud to be invested in Sophie’s Kitchen as a blue economy business, as well as two other ESG-driven companies: The Vegetarian Butcher and FunGuys Beverages.

FAQs

Who benefits from the blue economy?

The blue economy benefits society in many ways by using natural resources to create a sustainable way of life through our oceans. The blue economy not only provides economic growth to society, but it also provides the protection and development of more intangible resources such as reducing carbon footprints and protecting coastal regions that may often be affected by climate change through the over consumption of ocean resources such as seafood, fish and pipelines.

What is the purpose of the blue economy?

The blue economy aims to improve the wellbeing of humans and to create social equity. The blue economy also encourages learning and the fostering of our oceans to reduce waste and environmental risks, while providing sustainable relief efforts to fight climate change.

What is the sustainable blue economy?

The sustainable blue economy is focused on protecting our oceans, and ensuring that oceans are healthy in order to maintain coastal regions that depend on them for economic growth and to sustain coastal populations. A healthy ocean will benefit people and nature, in providing a healthier environment for future generations.

What is the green and blue economy?

A green economy aims at reducing environmental risks that increase the effects of climate change. A green economy reduces carbon emissions, is resource efficient and is socially inclusive. A green economy promotes a more efficient use of energy, such as the greater use of renewable resources like wind and solar, as well as greener manufacturing that is resource efficient and excludes the use of toxic chemicals, thereby reducing the overall carbon footprint of consuming everyday products.

Similar to the green economy, the blue economy aims at improving human well-being and promoting social equity, while reducing environmental risks. The blue economy is focused on protecting the oceans and maintaining healthy water to protect coastal regions.

When looking at the green economy versus the blue economy, the only difference is what resources are being used in order to protect the environment. The green economy uses more intangible natural resources such as solar and wind, whereas the blue economy uses the ocean to promote sustainability.

What comes under the blue economy?

The blue economy encompasses a wide range of activities that help to promote the health of the oceans, including but not limited to:

  • Reducing the amount of plastic waste in consumer packaged goods;
  • Providing social and economic benefits for future generations;
  • Protecting and maintaining the health of the ocean; and
  • Relying on the ocean to create clean technologies and renewable energies that will reduce waste and promote the recycling of materials.