MedWaves recognises and supports the entire Mediterranean region to advance on a sustainable path. Considering the number of coastal countries, this requires a specific focus on the Blue Economy (BE). The BE involves many sectors, including coastal tourism, port activity, maritime transport, fisheries and industry. These sectors are fundamental economic components and constitute growing markets for the countries.

Acceleration of marine-based and marine-related activities has increased environmental challenges for marine and coastal ecosystems in the region. These include CO2 emissions linked with tourism, ports and maritime transport; depletion of fish stocks; and marine litter and pollution. These impacts signal that change is required.

Although the Mediterranean has seen strong economic growth in the BE sectors, there exists unexploited potential. The urgency to act and halt unsustainable development paths in these sectors has gained increasing attention from the European Union and other regional intergovernmental organisations, such as the UN Environment Mediterranean Action Plan-Barcelona Convention and the Union for the Mediterranean (UfM). Together, these entities have developed and coordinated strategies toward a Sustainable Blue Economy (SBE).

A SBE encompasses all economic activities that use the sea and/or inland waters (rivers and lakes), directly or indirectly. MedWaves envisions that a SBE supports the actors in the BE to be able to utilise circular business principles: Design out waste and pollution; Keep products and materials in use; and Regenerate natural systems.

A SBE embraces the potential to develop sustainable businesses that are located in the sea and inland waters areas as well as others located in coastal areas or in remote areas of the coast, if related to the sea or inland waters. The SBE implies the existence of sustainable businesses that provide commercial solutions, create ecological value and/or safeguard the environment, are economically viable and socially empowering and inclusive. These businesses offer long term social and economic benefits while protecting and restoring diversity, productivity and resilience of aquatic and coastal ecosystems.

Innovation is at the core of the transition to SBE. To be successful, this demands a profound transformation in all economic sectors to shift from linear to circular models. It is possible to improve existing production processes as well as introduce new sustainable business models and novel economic structures to reconcile economic development with the health of marine and coastal ecosystems. Strong policies and regulations promoting the integration of circular economy principles for all economic models in the BE will help to deliver this transformation.

The MedWaves Switchers Support Programme promotes a Sustainable Blue Economy through support to adopt a holistic and systemic approach. This engages a range of stakeholders including: 

• Entrepreneurs and Small to Medium Enterprises (SMEs): Businesses of all sizes can shift towards sustainable business models through applying eco-innovation and circular economic approaches. These business solutions transform ecological challenges into economic opportunities, reducing ecological impacts and increasing social value. 
• Business Support Organizations (BSOs) and experts: These entities can play an important role to support entrepreneurs and companies through the provision of support services embedded with eco-innovation and eco-design approaches. 
• Civil society and consumers: People have the power to vote for what they believe with their purchases. Empowered by awareness raising of sustainable lifestyle, civil society and consumers can utilise their purchasing power to demand for the change they want, driving the success of sustainable products and services. 

• Academia and research institutions: These institutions seed knowledge, expanding the realm of possibilities that are needed to successfully deploy circular economies, SCP and sustainable business models. 
• Financial Actors: Grants, credit and investment can enable solutions to exist, support innovation, and scale successes.  
• Policy makers: Decision-makers are responsible for adopting and implementing regulatory mechanisms that promote sustainable business models and sustainable products and services. 

The promotion of a Sustainable Blue Economy (SBE) is a priority for MedWaves. Circular economic principles within the Blue Economy (BE) sectors are mainstreamed in most initiatives and projects. For example, MedWaves supports the integration of SBE topics and initiatives within the UNEP/MAP – Barcelona Convention programmes of work. MedWaves’ initiative to promote enabling ecosystems for sustainable businesses, The Switchers Support Programme, targets entrepreneurs and SMEs in the BE sectors.  

SBE is a focus embedded in the SwitchMed initiative, including the main action to:  

• Assess opportunities for sustainable entrepreneurs in the BE sectors; 
• Develop methodologies and tools for sustainable business development in the BE sectors; 

• Provide business support services for SBE entrepreneurs and start-ups; 
• Build and strengthen capacity to enable the SBE to target key stakeholders, such as entrepreneurs and SMEs, BSOs and policy makers; 
• Assess policies and initiatives relevant for the BE and identify opportunities and strategies to integrate circular economy principles within BE sectors; 
• Promote policy measures supporting the integration of circular economy principles within traditional and emerging BE sectors; 
• Integrate circular economy principles in relevant BE sectors within UNEP/MAP – Barcelona Convention’s strategies and actions plans; 

• Promote dialogue and shared visions between national and regional Mediterranean stakeholders and initiatives; and 
• Share awards to companies and policy makers that successfully promote SBE.