An abalone aquaculture farm in Co. Galway is one of over 100 ocean farming and marine businesses across Europe joining forces with Trinity researchers and the Western Development Commission (WDC ) on an international study investigating the challenges and benefits of a nature-positive economy.
The pilot study of the nature-positive potential of the blue economy in Ireland forms part of the GoNaturePositive! research project which is being launched by Malcolm Noonan, Minister of State for Nature, Heritage and Electoral Reform, at an event in Trinity Business School today [March 6th].
The Horizon Europe-funded initiative led by Trinity Business School involves 20 partners across 14 countries and a network of global collaborators to accelerate awareness and transformative action towards a nature-positive economy among policymakers, investors, businesses and wider society. Research will result in more clarity on the concept of a nature-positive economy and provide guidance for businesses and policy makers on the priorities for transformation.
The project’s alignment with the WDC’s interests in marine and economic sustainability highlights a forward-looking approach to regional development, focusing on harmony between economic activities and nature.
Allan Mulrooney CEO of the Western Development Commission, which is partnering on the GoNaturePositive! project commented: “The blue economy is a key priority for the Western Region of Ireland, reflecting our dedication to exploring sustainable development within this sector.
“We are keen to engage with businesses of varying sizes to navigate this evolving landscape together. Recent research highlights the potential benefits of directing more investment towards environmentally conscious initiatives, like ocean farming. While this presents an exciting opportunity, it also allows us to consider how such strategies could foster economic vitality and environmental well-being across our region, benefiting a broad spectrum of stakeholders.”
Cindy O’Brien, marine biologist and owner of Abalone Chonamara Teoranta, is one of the Irish nature-positive aquaculture business participating in the Irish pilot. “We are delighted to participate in this research. While there is much scientific evidence about the benefits of abalone, seaweed and other forms of mariculture for storing carbon, much less research is looking at new opportunities for growth and scaling. There is huge potential for seaweed to be integrated into biodegradable materials for the bioeconomy for example, as well as for food and biopharmaceutical ingredients. We need to start cultivating these raw materials and we urgently need more research and financing to support the growth of these types of climate-resilient, nature-positive businesses.”
