Increasing Investment in Ocean Observation

Tatiana Der Avedissian
Tatiana Der Avedissian Head of Business Development, World Ocean Initiative – The Economist Group

ARTICLE

Tags: # Ocean Data #Dual Use # Ocean Intelligence # Blue Investment

Ocean observation is gaining popularity within the blue economy and attracting international media attention. Although not a new concept, the demand for more data has increased at both national and international levels as policymakers realise it is crucial for managing the ocean economy. Traditionally, ocean data was collected mainly through methods such as Argo floats, gliders, research vessels, buoys and sensors. The demand for more data is transforming this landscape, with an increase in satellite data, crowdsourced data from the public and companies, and autonomous underwater technologies and AI. Ocean data captures physical, biological and biochemical observations to assess ocean health and understand climate patterns. Gathering more data will help organisations and governments understand economic risks and drive growth in the blue economy by improving our understanding of the ocean. Whilst some countries are scaling back ocean observation, others are investing more, recognising that a better understanding of the ocean supports local economic growth and regional competitiveness. Europe, for example, has identified the blue economy as a key contributor to economic growth. As part of the European Ocean Pact, which is expected to become formal EU policy via the Ocean Act in 2027, over €92 million is being committed to ocean observation. The new European OceanEye initiative, launched earlier this month, will support international ocean observation efforts. This is timely, particularly as other major blue economy nations are scaling back their efforts due to policy changes. Europe aims to be the leading provider of global ocean intelligence by 2035. This ambitious agenda is achievable given the strategic approach to fast-tracking efforts by supporting ocean tech start-ups and attracting private investment. Europe will support the Global Ocean Observing System (GOOS) to enhance ocean observation alongside countries such as India, China, Japan and Australia. This is also in line with the recently enacted United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ), also known as the High Seas Treaty. One of the four key pillars is capacity building and the transfer of marine technologies to less developed countries to help them manage their marine ecosystems outside their Areas Beyond National Jurisdiction (ABNJ). The aim is to make data accessible in order to increase international collaboration, particularly in areas such as the deep seas, where our knowledge is limited.

Ocean data is also increasingly used for maritime defence, and it could be argued that the demand for more data is being driven by defence and security needs. The term ‘dual-use’ means that data can be used for both scientific and security purposes. Current geopolitical realities mean that states are allocating more funding to support ocean observation for this purpose, and this in turn will attract more private investment. The challenge is that, for national security reasons, some of this data may become inaccessible to a wider audience, affecting our ability to use it for scientific and commercial purposes.

Whilst the shift towards ocean observation is long overdue, start-ups developing new observation technologies face the challenge of sustaining themselves financially. They must balance investors’ motivation to allocate capital – driven by the substantial returns from the defence industry – with the slower returns from the scientific community and other emerging sectors within the blue economy. To prevent data from shifting from dual-use applications to primarily supporting defence – which would reduce accessibility – organisations such as UNESCO and GOOS need to collaborate to demonstrate the economic value that ocean data offers and why democratising its use will support resilient economic growth whilst ensuring that the full potential of data intelligence is realised.