This study investigates marine biotechnology as an emerging technology to pursue a sustainable Blue Economy with regard to the innovation that drives growth in the economy and preserves the marine biodiversity. The research questions involve: how marine biotechnology can improve sustainable practices in the Blue Economy, its economic costs, ecological, and social impact, and policy framework to scale such innovations in coast and marine resources governance practices. The study is anchored on three theoretical frameworks that are Ecological Economics, Innovation Systems Theory, and the Sustainable Development Goals (SDGs). The set of frameworks can be used to obtain an insight of the equilibrium between environmental conservation and technological advancement in the marine sectors. The conclusion indicates that marine biotechnology is key in developing fresh hubs of economic activities, including drugs and sustainable aquaculture, besides alleviating environmental degradation via bioremediation and the preservation of biodiversity. Nevertheless, issues of technology constraints, gaps in regulations and ethics of bioprospecting and genetic modification still exist. As part of advancing its potential value to sustainable development, the study suggests an improvement in policy frames, increased international partnerships as well as the adoption of ethical principles in the application of marine biotechnology. This study highlights a multi-action set of measures to enhance the sustainable exploitation of the marine sources, with some hints on possible outcomes of marine biotechnology in going forward with the Blue Economy.
Garba et al. (Thu,) studied this question.