BCG, WWF will evaluate how best to restore the health of the Baltic Sea region
The Baltic Sea is in critical condition, with several environmental challenges threatening its future. First, wastewater and agricultural runoff from fertilized fields is leading toeutrophication, a process that decreases the oxygen critical to marine life and causes severe algal blooms. Second, hazardous substances such as flame retardants, dioxins, and pharmaceuticals are resulting incontamination of the waters and driving up toxin levels in the fish that are hauled in. Third,overfishing has depleted important commercial fish stocks such as cod, herring, and sprat despite some recent progress in addressing the issue. The strong projected growth of the region will only place more demands on the sea’s limited resources unless actions are taken to address these problems and restore the waters to health.
At the same time, however, the Baltic Sea region-which includes the countries of Finland, Sweden, Denmark, Germany, Poland, Lithuania, Latvia, Estonia, and Russia-is particularly well positioned to take on a global leadership role in responding to these types of environmental challenges. Politically stable and not plagued by poverty, war, or other major conflicts, this dynamic region is also financially strong and boasts well-educated people, a relatively low population density, a solid commercial base, and a reputation for innovation. Given these characteristics, it has the potential to become a hub for innovation in the so-called blue and green technology solutions that have a positive impact on the environment, including both the sea and the land.
- BCG recently joined forces with WWF to evaluate how best to conserve and restore the health of the Baltic Sea region.
- BCG analysis showed that by 2030 the region could add 550,000 jobs and 32 billion in economic value by tackling pollution, increasing environmental regulations, and promoting collaboration among the Baltic countries and industry sectors.
- What’s more, the global demand for “blue and green” solutions is on the rise, and the commercial benefits of developing these environmental solutions for sea and land are potentially enormous
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Source: BCG
