Answer To: Microsoft Word - Essay 2021.docx 1 ECON3034 Resource and Environmental Economics Essay (25%) DUE:...
Komalavalli answered on Oct 19 2021
Sustainable development
Advancement in fisheries may be described as a process of transformation that results in long-term and balanced enhancements to the standard of living for all or most members of a community. Adding the need for sustainable development indicates that these improvements must be made without jeopardizing the long-term stability of the ecosystem in question. The World Commission on Environment and Development defines sustainability simply as development that satisfies the demands of the present without jeopardizing future generations' ability to satisfy their own needs in 1987. This concept recognizes that human requirements vary over time and that environmental integrity is required to ensure that subsequent generations can realize the full capacity from their own development demands.
Caribbean and its economic sectors:
The Caribbean is a diversified area with tremendous economic potential and prospects for growth. GNP per capita ranges from approximately US$800 to more than US$30,000 and most nations rely largely on tourism, while others rely on commodities exports. Changes in climate and natural catastrophes pose a significant threat to Caribbean countries. Severe weather occurrences are regular , that island saw nine Category 3 or higher hurricanes in 2019-2020, and a massive amount of named storms in the 2020 hurricane season.
When a storm strikes, it may wipe away more than a tiny island's entire yearly GDP, and the impoverished are frequently the ones who suffer the most. Hurricanes Irma and Maria hit in 2017, and Dorian will hit in 2019. The eruption of the La Soufrière volcano in Saint Vincent and the Grenadines in April 2021 forced major relocations and also has far consequences on the country's infrastructure, economy and people.
Caribbean and Fisheries sector:
The ocean supplies a broad range of resources and contributes to the growth of sustainable lives. Depending on the ocean's income capability, the total worth of the key ocean resources is projected to be US$24 trillion globally. The Caribbean regions are among the one that is most reliant on coastal and marine resources around the world. With a value of US$ 407 billion, the Caribbean Sea is projected to contribute for 14–27% of the global ocean economy.
Among the industries that contribute to this economy are nonliving and living resources, tourism eco-system, trade, and commerce services. In the case of tourism, for example, ocean-based attractions are important job creators, accounting for nearly 6 million employment opportunities in the Caribbean area. To attain a sustainable ocean-based economic, the Region will have to dedicate to the deployment of combined, multidisciplinary, and formalized managerial practices. Laws, expenditures in human resources, technical preparedness, statistics systems, and institutional structures will all be required to enable this.
In Trinidad and Tobago, the fishing sector plays a significant economic and social significance. It is a key contribution to food production and nutrition security, as well as a vital livelihood and revenue. In 2013, the projected per capita consumption was 25.9 kilogramme. The fact that the majority of Trinidadian landings originate from small-scale...