The Bali provincial government is expanding the nature reserve to 10 percent of the island's total area. This is necessary in order to support the 'blue' economy. In addition, this measure will help protect the marine sector from the effects of climate change.
The head of the Bali Fisheries and Marine Affairs Agency, Putu Sumardiana, revealed this at the Bali Ocean Days conference in Jimbaran.
Among the new territories that will be protected by the government are Nusa Penida and areas of Bali such as Pemuteran, Lovina, Tejakula, Amed, and Tulamben.
Coral Reef Conservation
The government will focus on coral reef conservation, coral transplantation, and raising awareness in the community.
Transplanting corals involves transferring healthy corals to bleached and withering ones. Experiments show that this method can 'revive' the ecosystem.
Environmental Protection Measures
In these protected areas, boat traffic, shipping, and fishing will be prohibited. A great deal of attention will be given to combating plastic waste in these areas.
Currently, the area of coral reef ecosystems in Bali has reached 7,742.41 hectares, with 977 hectares designated as protected areas, just over 12 percent.
Blue Economy Concept
The 'blue' or 'circular' economy concept is based on the belief that in nature, there is virtually no waste, and any by-product can become a resource for another product. The main goal is to completely rely on renewable energy.
This term was one of the main topics at the Bali Ocean Days conference, where the importance of preserving marine ecosystems was discussed.
Innovative Financial Support
The Indonesian government is considering the creation of 'blue' banks to finance the marine sector. Deputy Minister for Marine Sovereignty and Energy at the coordinating ministry for maritime affairs and investments, Jodi Mahardi, believes that state-owned banks could take on this role.
Startups could receive 4.5 trillion rupiahs, or approximately 288.3 million US dollars for innovative financing,which would not only support economic growth but also address environmental issues and improve the state of the ocean.
Another option being considered by the Indonesian government to support the 'blue' economy is the issuance of blue bonds.
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