Saving the Baltic Sea also creates economic growth

Saving the Baltic Sea also creates economic growth

According to a new study, the future of the Baltic Sea can be improved through a stronger municipal environmental strategy that would also boost local economies and labor markets. Within the entire Baltic Sea region, 900 000 jobs could be created by 2030, representing almost 2% of the total labor supply.

There are also many environmental and socioeconomic benefits from addressing eutrophication, such as improved biodiversity, reduced risk of flooding and a healthier population. Companies that are leading the way in water technology innovations have the opportunity to grow further by exporting solutions to not only other local municipalities, but also globally. For a municipality, this is an opportunity to create local jobs while becoming a global hub for water technology innovations.

Municipalities play a key role

However, the starting points of the municipalities vary. The report shows that two-thirds of all municipalities around the Baltic Sea region are either unaware of the Baltic Sea’s critical state or lack resources to effectively address it. Also, less than 1% of municipalities are working strategically to address eutrophication. There are benefits to capture, and the municipalities are in a position where they can drive the issue locally in order to also capture these benefits.

The study, Restoring Waters in the Baltic Sea Region – A Strategy for Municipalities and Local Governments to Capture Economic and Environmental Benefits, was commissioned by Zennström Philanthropies and conducted by The Boston Consulting Group.

Links

Restoring Waters in the Baltic Sea Region – A Strategy for Municipalities and Local Governments to Capture Economic and Environmental Benefits