The University of North Carolina Wilmington Blue Economy Index (Bloomberg Ticker: BLUEECO) declined 4.15% in March amid what index managers described in a news release as “a broad global market selloff.”

The index tracks the “economic activity of companies operating within oceans and waterways, with a focused lens on environmental sustainability.” It aligns with the World Bank’s Blue Economy definition: “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.” It offers investors a way to evaluate the sustainable growth potential of sectors such as shipping, offshore energy, aquaculture, and marine infrastructure.

By comparison, the index’s major benchmarks recorded steeper losses than BLUEECO, with the Standard & Poor’s 500 falling 5.16%, the Morgan Stanley Capital International All World Index declining 6.22%, and the S&P Industrials dropping 10.66% during March.

“The downturn was driven by rising geopolitical tensions and renewed inflation concerns, which weighed on investor sentiment throughout the month,” according to the index managers. On a year-to-date basis through the first quarter, BLUEECO is still up 12.06%, compared to 4.30% for the S&P Industrials and declines of 3.52% for the MSCI All World Index and 4.63% for the S&P 500.

Industrials declined 7.61% in March, losing much of the strong gains seen earlier in the year, which was attributed to “renewed trade policy uncertainty and tariff escalation, which dampened capital expenditure expectations and weighed on cyclical demand across heavy industry and manufacturing segments,” according to the release.

Consumer staples declined 7.89% in March, driven by rising input costs across energy and logistics, alongside currency headwinds in key export markets, which, officials said, put pressure on margins for food production, processing, and distribution companies.

Utilities declined 3.90% in March, showing some resilience during the broader market selloff.

Consumer discretionary spending slipped 13.35% in March, making it the worst-performing sector. “The decline reflected deteriorating consumer confidence amid escalating trade tensions and equity market volatility, which weighed heavily on forward bookings and discretionary spending across travel, leisure, and cruise operators,” according to the release.

March’s top performers were concentrated in utilities and renewable energy, supported by rising energy prices and increased strategic interest in power and infrastructure assets.

For more, visit the Alliance for the Blue Economy.

Before accepting the Trump administration’s $1 billion taxpayer buyout, TotalEnergies fostered a campaign that its wind energy project off the coast of Brunswick County would eventually generate enough electricity to power 300,000 homes in the Carolinas.

“Our team is passionate about creating a clean energy economy and the new opportunities it brings to our local communities,” reads an excerpt from TotalEnergies Carolina Long Bay website. “Our partnerships in the Carolinas are making renewable energy a regional priority, building a stronger future for us all.”

TotalEnergies Carolina Long Bay, a wholly owned subsidiary of the France-based global energy company, “will harness the power of offshore wind to generate abundant energy and significant economic growth for the communities of the Southeast.”

The Interior Department’s announcement Monday that TotalEnergies had accepted a federal buyout of its wind energy leases off the New York and North Carolina coasts is a sharp pivot from the company’s previous narrative on offshore wind in the United States.

TotalEnergies’ chief executive officer and chair of the company’s board of directors said in a Department of Interior release that the decision to relinquish offshore wind development in the United States was made because such projects are “not in the country’s interest.”

Instead, TotalEnergies will invest the refunded money in a liquefied natural gas export terminal in Texas and other fossil fuel projects.

The Trump administration lauded it as an “innovative agreement,” one that is a major win for President Donald Trump, who has made offshore wind the biggest bullseye in his target to dismantle renewable energy projects and replace them with fossil fuel and nuclear power.

“Offshore wind is one of the most expensive, unreliable, environmentally disruptive, and subsidy-dependent schemes ever forced on American ratepayers and taxpayers,” Interior Secretary Doug Burgum said in a release. “We welcome TotalEnergies’ commitment to developing projects that produce dependable, affordable power to lower Americans’ monthly bills while providing secure U.S. baseload power today – and in the future.”

Shortly after taking office in January 2025, Trump issued an executive order barring new offshore wind leases and requiring reviews of existing and permitted wind projects.

Last December, the Trump administration, citing risks to national security, ordered work to stop in five offshore wind energy areas on the East Coast, including Dominion Energy’s 2.6-gigawatt project based in Hampton Roads, Virginia.

Courts have since allowed all five of the projects to operate for the time being until final judgments are rendered in those cases.

Monday’s announcement drew immediate rebuke from opponents who argue the deal sets a dangerous precedent and limits alternative energy production as Americans face rising electricity bills and concerns mount about the amount of power artificial intelligence data centers use.

“Donald Trump truly can’t leave a good thing alone,” BlueGreen Alliance Vice President of Federal Affairs Katie Harris said in a release. “His never-ending vendetta against offshore wind shows that he either doesn’t understand the affordable energy crisis or that he just doesn’t care. Either way, it’s clear he’s never paid his own electricity bill, and he’s determined to raise bills for working people.”

Southeastern Wind Coalition Senior Program Manager Karly Brownfield said that the agreement “feels really counterproductive” at a time when people are closely watching their energy costs at home and at the pump.

“The whole thing is unprecedented and it’s also completely unprecedented to take a lease payment and then refund it in exchange for investment in the natural gas industry. That has never happened before,” she said in a telephone interview earlier this week. “Whether you’re investing in offshore wind or you’re investing in solar or whatever it might be, it’s not a great feeling to know that just because you have a project that’s permitted or a project that’s received all the stamps of approval that it still runs the risk of the plug being pulled halfway down the line. Certainty is what drives business and the more uncertain we make our energy market the more complicated this is all going to become in the long term.”

North Carolina is investing in natural gas, but the gas turbine industry is facing years-out backlogs on turbine orders. Nuclear power, from permitting to production, can take upwards of 15 years to build.

“And the leg up we had with offshore wind was that these projects were leased. Permitting had started. The sites were secured. There was some sort of headway that was made on those projects,” Brownfield said.

The Carolina Long Bay wind energy area spans a little more than 110,000 acres roughly 22 miles offshore, south of Bald Head Island.

The area is split into two leases.

In May 2022, Duke Energy paid $155 million for what equates to a little more than half of the total wind energy area.

In June of that same year, TotalEnergies Renewable USA paid more than $133 million for the adjacent lease.

Projects in the Carolina Long Bay area were anticipated to generate up to 3 gigawatts of electricity, enough to power about 675,000 homes, and estimated to provide more than $4 billion in net economic impacts.

According to information on its website, Duke Energy was collaborating with TotalEnergies on “early development activities.”

When asked for comment, Duke Energy spokesperson Bill Norton responded to Coastal Review by email, writing in part, “Large offshore wind projects involve substantial capital investments and extensive development timelines. It’s reasonable that policy makers question cost-exposure of such projects to customers. We continue to evaluate next steps as it relates to the Carolina Long Bay lease, which is currently maintained by Duke Energy’s nonregulated subsidiary, Cinergy.”

Duke Energy prioritizes energy sources “proven to be the most cost-effective while meeting the growing needs of our customers,” he wrote. “A diversified energy mix is essential to meeting the moment of high demand under all conditions.”

Offshore wind, Brownfield said, offers just that.

“What offshore wind is really, really good at is providing that really stable and predictable energy during extreme weather, and especially at nighttime, when solar is not really working, or when either gas is really constrained or you’re looking at scarcity pricing,” she said. “And, with wind being a free resource, yes, it’s an upfront investment, but it’s a very predictable cost of the project.”

There are still active leases for a wind project off Kitty Hawk that’s owned by Avangrid Renewables and Dominion Energy.

“As far as I know, Avangrid is still very much firm on engaging in North Carolina and they’re still looking at a longer-term future for their lease,” Brownfield said.

As she sees it, the Interior Department’s agreement with TotalEnergies is perhaps less of a setback to offshore wind energy production in the U.S. but rather increases the need for other energy resources.

“Not saying that we don’t need natural gas. SEWC is a very technology-neutral organization,” Brownfield said. “We don’t want to shoot down other resources by any means. But your grid is a lot more balanced when you’ve got a little bit of everything on it. And, right now, we’re on track for our grid to be about 50% gas by 2034, and that’s a lot of gas.”

The University of North Carolina Wilmington’s Blue Economy Index (Bloomberg Ticker: BLUEECO) saw gains during February, outperforming broader, global benchmarks that suffered weaker performance.

The Blue Economy Index rose 8.66% from 2,882.49 to 3,132.02. At the same time, the S&P Industrials rose 5.64%, the MSCI All World Index increased 1.24%, and the S&P 500 fell 1.40%.

The index trackers said in a news release Thursday that the comparatively strong performance “showcases” the blue economy’s “concentrated exposure to ocean-related industries and balanced sector allocation.”

“This month’s returns were defined by strong expectations in infrastructure demand and international economic activity, as well as a sharp decline in large technology and growth stocks.”

The UNC Wilmington Blue Economy Index tracks the economic activity of companies operating on or in oceans and waterways, with a focus on environmental sustainability. The index was developed through a collaboration between UNC Wilmington’s Center for Innovation and Entrepreneurship, the Alliance for the Blue Economy, or AllBlue, the Cameron School of Business, and it relies on data from FactSet.

The index aligns with the World Bank’s definition of the Blue Economy: “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.”

“The index represents a fusion of academic insight, environmental science, and financial market expertise,” according to the university.

February’s performance was supported by strong gains in industrial and utilities sectors, which benefited from rising expectations for global infrastructure spending and energy demand. Sector rotation also played a key factor as investors transitioned from technology to industrial sectors.

Industrials climbed 16.61% after investors rotated into companies tied to infrastructure, heavy manufacturing and energy systems. A large wave of AI storage and network demand helped prop up the sector’s performance, which signaled higher future revenue and earnings, according to the release.

Consumer staples, supported by increased expected demand and improved profitability in the global seafood and animal feed markets, increased 8.06%. The sector also gained from higher aquaculture prices in Asian and North American markets, which improved margins for fishing and processing companies.

Utilities rose 5.60%, driven by expanding economies and the rapid build-out of data centers, AI computing, and renewable energy systems. Furthermore, many utility companies are expanding renewable energy projects which investors view as long-term growth opportunities, the analysts said.

Consumer discretionary spending gained 3.12%, supported by steady continued growth in travel and tourism spending.

Doosan Corp. saw a 50.65% gain and topped the index for February thanks to new legislation that provided a regulatory framework for modular reactor development and export.

Harbin Electric Corp. saw a 41.88% gain thanks to an increase in Chinese gas turbine demand and the company’s financials, which forecast a 57% increase year-over-year net profit and 33% revenue growth.

Kawasaki Heavy Industries, Ltd. Realized a 40.31% gain based on increased submarine and defense systems production after Japan planned to increase defense spending to 2% of its GDP.

More information about the Alliance for the Blue Economy is online at https://uncw.edu/research/centers/innovation-entrepreneurship/events-programs/programs/all-blue.

The University of North Carolina Wilmington’s Blue Economy Index (Bloomberg Ticker: BLUEECO) ended 2025 on an upswing, rising 3.15% in December.

The index increased from 2,557.57 to 2,638.17 and outperformed major global benchmarks, such as the S&P Industrials, which rose 2.66%; the MSCI All World Index, which increased 1.35%; and the S&P 500 at only a 0.48% increase.

“December’s performance reflected renewed strength across consumer-facing and industrial segments tied to marine travel, logistics, and sustainable infrastructure,” according to the announcement from UNCW. “December’s advance was driven by improved investor sentiment, particularly across travel, leisure, and transportation-linked equities, as easing macro uncertainty and resilient consumer demand supported risk appetite. Increased holiday-season activity and improving visibility into 2026 demand trends contributed to a broad recovery across blue-economy exposures.”

UNCW said the index’s performance relative to global benchmarks shows how BLUEECO’s diversified composition, which includes both marine tourism and industrial and infrastructure-driven growth.

The UNC Wilmington Blue Economy Index tracks the economic activity of companies operating within oceans and waterways, with a focus on environmental sustainability. It was developed through a collaboration between UNC Wilmington’s Center for Innovation and Entrepreneurship (CIE), the Alliance for the Blue Economy (AllBlue), the Cameron School of Business and is powered by data from FactSet.

The collaborators said that, “as coastal populations grow and marine industries expand, the index offers investors a timely and transparent benchmark for evaluating the sustainable growth potential of ocean-based sectors such as shipping, offshore energy, aquaculture, and marine infrastructure.”

The index follows the World Bank’s definition of the Blue Economy: “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem” — the index is composed of leading global companies that demonstrate both commercial viability and environmental responsibility.”

The sector known as the Blue Economy, which includes companies operating on oceans and waterways that are focused on environmental sustainability, saw a 1.36% decline in November, according to the University of North Carolina Wilmington Blue Economy Index, but still showed relative stability compared with industrial benchmarks.

By comparison, in November, the S&P 500 was down 0.57%, the MSCI All World Index, which measures global equity portfolio performance, dropped 0.66%, and the S&P Industrials Index ended the month with a 2.07% decline.

The Blue Economy Index (Bloomberg Ticker: BLUEECO) slipped from 2,592.91 to 2,557.57, “reflecting broad-based softness across global equity markets,” according to a UNCW news release.

“November’s decline was driven by weakness across industrial, maritime, and consumer-related segments as global risk sentiment softened,” the release continues. “Cooling manufacturing activity, lower freight demand in key trans-Pacific routes, and cautious spending patterns in developed markets contributed to a more defensive posture among investors.”

The November results, while reflecting what UNCW called “a broadly negative month for global markets,” were buoyed by the index’s diverse mix of marine transport, renewable infrastructure, and essential services companies.

Consumer discretionary spending was down 5.71%, reflecting weaker seasonal demand for leisure, travel and discretionary goods. “Slowing economic momentum and reduced spending appetite weighed on retail-linked and service-oriented holdings,” UNCW said.

Consumer staples, however, increased 1.18% in November, the month’s only gain. “Strong demand for essential goods, along with resilient pricing in food and aquaculture producers, supported modest gains despite broader market weakness,” according to the university.

Utilities were down 1.48%, reflecting what UNCW called “softer sentiment toward renewable and grid-focused firms as project timelines and regulatory decisions remained in flux. Nonetheless, core power and distribution operators maintained stable operational fundamentals.”

Industrials declined 1.13%, which UNCW said was due to lower freight volumes, moderating shipbuilding activity and softer machinery demand across Asia and Europe. “Despite the downturn, the sector remained more resilient than the broader industrial benchmark,” UNCW said.

Notable gains that helped cushion overall Blue Economy Index performance included Himalaya Shipping, which rose 20.48%; Vestas Wind Systems, which posted a 16.62% gain as renewable equipment supply chain sentiment improved and turbine orders rebounded in key markets; and Wallenius Wilhelmsen, which posted a 14.95% gain driven by vehicle logistics demand and continued strength in roll-on/roll-off shipping activity.

“Together, these names demonstrated the index’s capacity for selective outperformance even during periods of broader market weakness,” according to the release.

The Blue Economy Index was developed in collaboration among the UNCW Center for Innovation and Entrepreneurship, the Alliance for the Blue Economy, or AllBlue, and the Cameron School of Business, and it relies on data from FactSet. UNCW says the index “represents a fusion of academic insight, environmental science, and financial market expertise.”

The index measures the performance of leading global firms that demonstrate both commercial viability and environmental responsibility, aligning with the World Bank’s definition of the Blue Economy: “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.”

It serves to provide investors “a timely and transparent benchmark for evaluating the sustainable growth potential of ocean-based sectors such as shipping, offshore energy, aquaculture, and marine infrastructure,” according to the release.

WILMINGTON — Deepening the Wilmington Harbor would disperse PFAS now mingling in the riverbed’s sediment into marshes and onto public beaches, accelerate erosion, exacerbate flooding, destroy habitat, and is not economically justified, area residents said during a state-hosted public hearing.

Many who spoke at the North Carolina Division of Coastal Management’s hearing in downtown Wilmington Monday night argued that the federal draft environmental statement released by the U.S. Army Corps of Engineers earlier this fall fails to fully examine potential impacts associated with the proposed project.

The draft study examines different alternatives for the North Carolina State Ports Authority’s aim to accommodate larger container ships at the Wilmington port.

The preferred alternative selected in the study calls for deepening the harbor from 42 to 47 feet, widening the channel in multiple areas, and extending the ocean entrance to the river. These changes would accommodate vessels that can carry 14,000 20-by-8-foot shipping containers, ports officials say.

But several of the nearly 20 people who spoke argued that the proposed project would not benefit the local economy, and its environmental harms would drastically overwhelm any associated economic benefits. About 70 people attended the hearing.

“This project is a poor economic decision given the massive cost compared to the miniscule benefits,” said Jessica Hardee, an attorney with the Southern Environmental Law Center. “The cost of deepening the harbor and the channel is projected to be over $1 billion. However, the only noted benefit of this project are cost savings to international shipping companies who use the port, not North Carolina or local communities. This project provides little benefit to the Wilmington area and North Carolinians while also threatening significant damage to the coastal region.”

One striking absence from the study is how churning up and moving per- and polyfluoroalkyl substances, or PFAS, in the sediment of the lower Cape Fear River might affect the environment, animals that rely on that environment, and human health, some speakers said.

“Even though we all know that there’s PFAS in the sediment of the river, the Corps says we can’t consider that because it’s not a regulated chemical,” said Wilmington resident and geologist Roger Shew.

But PFAS, or similar chemical compounds of which there are more than 14,000 used to make a host of consumer goods from food containers to stain-resistant clothing and carpet, will be regulated by the time the channel would be deepened in the early to mid-2030s, he said.

“And since 15 million of the 35 million cubic yards of dredge material will be used as beneficial placement in marshes on our area beaches, we should know the content of that sediment and potential impacts with sediment placement,” Shew said. “A core function of an (environmental impact statement) is consideration of potential harm. Therefore, they should and must include PFAS in the study.”

A study published late last month found concentrations of 56 PFAS in blood samples obtained from 119 Wilmington residents between 2010 and 2016.

Two chemical compounds – TFA and PFMOAA – were the dominant PFAS in the samples, “despite their likely short half-lives in the human body,” according to the study.

TFA, or trifluoroacetic acid, and PFMOAA, or perfluoro-2-methoxyacetic acid, are ultrashort-chain PFAS, which are the smallest type of PFAS and hardest to remove from drinking water sources.

The blood samples examined in the study were obtained before the public was made aware in 2017 that an upstream industrial facility had been discharging PFAS directly into the Cape Fear River, the drinking water sources for tens of thousands, since the 1980s.

“While current TFA and PFMOAA levels have likely decreased substantially from those in the historical blood serum samples evaluated here as a result of mandated discharge controls at the upstream fluorochemical manufacturer, this study, along with other recent studies, highlights the importance ultrashort-chain PFAS can play in determining the overall human PFAS burden,” the study states.

Wilmington resident Kaiti Sheehan said the fact that PFAS is not considered in the draft environmental impact statement, or DEIS, “is a slap in the face to residents who are paying for a $42 million granulated active-carbon filtration system and still facing the health consequences that have come from 40 years of contamination from our upstream bad actor.”

“I do genuinely hope that you will look and you will see how much the community has come out tonight in recognition that this is bad for Wilmington and this is bad for North Carolina,” she said.

Others raised concerns about how deepening the harbor to allow for larger ships to travel the 28 miles upriver to the port would increase erosion on the string of bird islands that pepper the lower Cape Fear River and the riverbanks themselves.

The Cape Fear River supports almost 30% of the state’s nesting American oystercatchers.

Audubon North Carolina’s Lindsay Addison, a coastal biologist, said she and her staff are on the Cape Fear River two to three days a week between March and August and at least once during each of the other months of the year.

“We have seen progressively the impacts of the larger and larger classes of ships coming up the river,” she said. “We saw larger, more severe wakes. The DEIS does not take this into account. The Corps, in its beneficial use plan, talks about maybe putting sediment on 2 miles of the shoreline.”

Birds nest on high-tide lines, Addison said. Waves created by a large ship’s wake push water “like a tsunami” over nests and sweep nests away.

“There is no model in the DEIS that accounts for this,” Addison said. “There is no data collection in the DEIS that accounts for this. In fact, there’s no new data collection in the DEIS. They’re relying on data that was already collected. They told us in the stakeholder meeting, flat out, that they’re not going to collected new data so impacts to the migratory birds in the DEIS are not taken into account.”

Officials with the Division of Coastal Management, which is under the N.C. Department of Environmental Quality, announced Monday night that the public comment period on the draft study has been extended from Dec. 5 to Dec. 20.

Written comments may be mailed to Federal Consistency Coordinator, 400 Commerce Ave., Morehead City, NC  28557, or emailed to Federalconsistencycomments@deq.nc.gov with “Federal Consistency: USACE Wilmington Harbor 403 Navigation Project” in the subject line.

More information on the proposed project is on the Corps’ website.

There’s still time to register for the annual Ocean Innovation Conference at the University of North Carolina Wilmington.

The conference is scheduled to take place in UNCW’s Burney Center from 8:30 a.m. until 4 p.m. Tuesday.

Virtual registration closes Friday. The fee to register to attend the event virtually is $30. Questions will be taken from virtual participants for keynote speakers and panelists and some virtual innovation fair booths will be available to those who register to attend online.

In-person registration runs through to the day of the conference and costs $129. Seats are limited.

All UNCW students may attend in-person or virtually for free. Tenants with the university’s Center for Innovation and Entrepreneurship receive a 50% discount and CIE members and coworkers a 25% discount.

For more information about discounts contact cie@uncw.edu.

Now in its third year, the conference brings together UNCW’s deep research expertise, the entrepreneurial ecosystem of southeastern North Carolina and those passionate about the ocean and coastal communities to spark conversations about topics including marine biotechnology, alternative materials, living shoreline projects, ocean data science, and emerging innovations.

Highlights of the conference include updates on marine and coastal research, trends in blue economy innovation, and showcasing opportunities for investment, collaboration, and action.

This year’s featured keynote speakers are Deborah Westphal, author and executive advisor at The Karen Toffler Charitable Trust, and world surfing champion and author of The CODE Method Shaun Tomson.

Sessions are held throughout the day and will focus on the regional blue ecosystem, cutting-edge ocean technologies, and efforts to preserve and restore ocean resources.

The event is organized by the Center for Innovation and Entrepreneurship and the Alliance for the Blue Economy (All Blue).

Guest Commentary

To stimulate discussion and debate, Coastal Review welcomes differing viewpoints on topical coastal issues.

Note: National Estuaries Week is Sept. 20-27

When most people think about fighting climate change, they think about cutting tailpipe emissions, swapping coal plants for solar panels, or driving electric cars. But there’s another powerful tool right in front of us: coastal habitats like salt marshes and submerged seagrass meadows. These living ecosystems are not just fish nurseries, wildlife havens and storm buffers — they are also massive storehouses for carbon, helping slow the pace of global warming.

Nature’s Carbon Vaults

Every blade of marsh grass and every seagrass frond pulls carbon dioxide out of the air and water through photosynthesis. Some of that carbon goes back into the atmosphere when plants die and decay — but much of it gets buried in the wet, oxygen-poor soils beneath. Think of these habitats as nature’s deep freezers: once carbon is locked in the muck, it can stay there for hundreds or even thousands of years.

This storage is so effective that acre-for-acre, coastal wetland ecosystems can hold several times more carbon than forests on land. That’s why scientists call this “blue carbon.”

Beyond Storage: The New Science of Carbon Flux

For years, we assumed the carbon benefits of these habitats came mostly from how much carbon they locked underground. But new research — including work my colleagues and I have been doing — shows that the story is bigger.

Wetlands and seagrass beds aren’t closed systems. They interact constantly with surrounding waters, exchanging organic matter and nutrients in what scientists call lateral flux. In plain English: tides, currents, and groundwater move carbon in and out of these habitats.

Here’s the exciting part: the more we study this flux, the more we see that coastal habitats are exporting “good carbon”— forms that stimulate carbon storage in seawater or reduce greenhouse gases in the water column. In other words, their climate benefit isn’t just what they store in their soils, but also how they influence the chemistry of surrounding waters.

Early estimates suggest this added benefit may be as large, or even larger, than the carbon stored directly in the soil. That means we’ve been dramatically underestimating how valuable these habitats are for slowing climate change.

Research Coming to North Carolina

This fall, I’ll be bringing this research to North Carolina, where salt marshes play a defining role in both the coastal landscape and economy. With support from the North Carolina Coastal Federation, my team and I will be monitoring marshes in the state to measure their carbon values. These field studies will help determine just how much carbon is being stored and exported — and how that compares with other places along the East Coast and nationwide.

By putting real numbers on the carbon services provided by North Carolina’s salt marshes, we can give policymakers, landowners, and communities the science they need to make smart investments in protecting and restoring them.

More Than Just Carbon

Of course, carbon storage is only one of many economic and ecological gifts coastal wetlands and seagrasses provide. They buffer shorelines from storms, filter pollutants, support fisheries, and provide nurseries for countless species. Protecting and restoring them is not just smart climate policy — it’s smart coastal policy, period.

A Call to Action

We’re still learning just how much carbon benefit these habitats provide, but one thing is clear: Every acre we lose is a lost opportunity to fight climate change and protect coastal communities. Protecting and restoring degraded marshes and seagrass meadows is one of the rare win-win strategies that helps people, wildlife, and the planet’s climate at the same time.

As new science on lateral flux continues to emerge — and as fresh fieldwork in North Carolina fills in key data gaps — we’ll have an even stronger case for investing in these natural climate powerhouses. Protecting coastal habitats isn’t just about saving pretty places — it’s about giving our coastal communities and working lands a fighting chance against rising seas and extreme storms.

Opinions expressed by the authors are not necessarily those of Coastal Review or our publisher, the North Carolina Coastal Federation.

The Army Corps of Engineers Wilmington District has awarded a multimillion-dollar dredge contract to clear shoaling from sections of the Wilmington Harbor.

The Corps last week signed off a $17.12 million contract with Norfolk Dredging Co. to maintain the authorized depth of the harbor’s anchorage basin and mid-river area. The work, which is anticipated to begin sometime later this year, is part of the Corps’ routine harbor maintenance.

“This dredging project will ensure safe and efficient passage for commercial vessels, supporting jobs and commerce throughout the Cape Fear region and beyond,” according to a release. “Regular dredging is essential to remove accumulated sediment, which can impede vessel traffic and limit cargo capacity, thus impacting the Port of Wilmington’s operations and its critical role in the supply chain.”

Norfolk Dredging has been contracted to clear more than 1.8 million cubic yards from the harbor, including 1.15 million cubic yards from the anchorage basin and 730,000 cubic yards from the mid-river reaches, said Jed Cayton, the district’s public affairs specialist, in an email.

The dredged material, most of which is not beach-compatible, will be placed offshore at a permitted disposal site, he said.

Norfolk Dredging is also expected to remove an estimated 1.3 million cubic yards of material from the harbor’s inner ocean bar later this year. The material through this area of the harbor is deemed beach-compatible and is to be placed on Oak Island and Caswell Beach’s ocean shorelines. The project must be completed between mid-November and April 30, 2026.

Later this month, the Corps will open bids for dredging in the harbor’s outer ocean bar, where an estimated 1 million cubic yards of material is expected to be removed between Dec. 1 and April 15, 2026.

The University of North Carolina Wilmington Blue Economy Index delivered a positive return during March amid a troubled and volatile broader market.

The index (Bloomberg Ticker: BLUEECO), a measure of ocean-based industrial performance based on the World Bank definition of the blue economy, realized a return of 0.3%, ending the month at 1,934.5, compared to its February closing value of 1,928.0.

Major market indices, the S&P 500, MSCI All World Index, and S&P Industrials, reported significant losses with returns of -5.8%, -4.1%, and -3.7%, respectively, during the same period.

The index’s daily performance throughout the month fluctuated but showed a generally upward trend, reaching a high of 2,019 points on March 19.

“Given that BLUEECO tracks the economic activities in the oceans and waterways with a focus on environmental impact, the index’s strong performance highlights the underlying resilience and growth potential of the blue economy sectors during periods of broader market uncertainty,” according to a UNCW news release.

The materials sector of the blue economy saw a 9.3% return driven by strong performances from companies like Schouw and Co., which specializes in producing feed for aquaculture industries, including salmon, trout, sea bass, sea bream and shrimp farming.

“This surge can be attributed to positive market sentiment stemming from expectations of lower interest rates, growing investment in sustainable marine-based materials, and increasing global demand for biomaterials amid ongoing trade tensions,” officials said.

The consumer discretionary sector realized the steepest decline among all sectors, falling by 15.1%.

“This downturn indicates a notable shift in consumer spending habits, potentially driven by factors such as rising prices, increased debt, and economic uncertainty,” according to the release. “As consumers increasingly prioritize essential purchases over discretionary items, companies such as Carnival, Lindblad Expeditions Holdings, and Norwegian Cruise Line Holdings have been adversely affected, placing them among the weakest performers in the index.”

Consumer staples posted a moderate gain of 3.4%, followed by utilities, which increased by 2.6%.

The index was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, CIE’s Alliance for the Blue Economy, and FactSet.

Guest Commentary

To stimulate discussion and debate, Coastal Review welcomes differing viewpoints on topical coastal issues. Morty Gaskill is a member of the North Carolina Coastal Federation Board of Directors. The nonprofit advocacy organization publishes Coastal Review, which remains editorially independent.

In 1976, a North Carolina Sea Grant newsletter sounded the alarm: large-scale land drainage was wiping out wetlands that protect our coastal fisheries. Fishermen saw their livelihoods at risk and 3,000 of them pleaded for action.

“We, the undersigned, being commercial and sport fishermen who use the creeks, rivers, and bays adjacent to Pamlico Sound and the waters of Pamlico Sound, petition the Marine Fisheries Commission and state officials as follows: … to investigate the effect of changing salinity in said waters upon the economy of Pamlico Drainage areas and to initiate proper controls to insure the continued health of commercial and sport fishing in this area.”

They saw it coming. But there was hope — state and federal leaders acted. For decades, farming, forestry, development, and fisheries co-existed under federal and state wetland safeguards — rules that carefully balanced economic growth and environmental protection. These safeguards didn’t create unbearable hardships; they provided stability for all.

Yet here we are again, nearly 50 years later, facing the same crisis — not just for our fisheries, but for our homes, businesses, and communities. Given the changing economic and environmental conditions of many coastal communities across North Carolina, it could not come at a worse time.

This time, the rollback of wetland protections isn’t coming from local drainage operations. It’s happening due to recent federal and state government actions. The Supreme Court’s Sackett v. EPA decision has dramatically narrowed the definition of federally protected wetlands. The North Carolina General Assembly followed suit, choosing to adopt the weaker federal standard instead of maintaining the stronger state level protections that had been in place for years. And now, under new leadership, the Environmental Protection Agency (EPA) is further diluting the Waters of the United States (WOTUS) rule, stripping even more protections from wetlands and streams that feed our coastal estuaries.

The consequences? More wetlands drained. More freshwater rushing unchecked into saltwater nurseries. More flooding. More property damage.

Costly gamble

History has already shown us what happens when we fail to protect our wetlands. In 1976, Rose Bay fisherman Troy W. Mayo spoke out as catches dwindled.

“Twenty-five years ago, I owned a 26-foot shad boat. We used to go out in Rose Bay, two people, for five or six hours and we’d catch 35 to 40 tubs of oysters—that was two men pulling by hand,” said Mayo. “Today you go out in this same area with a power winder and all modern equipment, and I’d be surprised if you catch 10 tubs of oysters.”

Scientists confirmed what fishermen already knew. “Salinity is a major ingredient for survival in the estuaries”; reported the North Carolina Division of Marine Fisheries. Preston Pate, who studied juvenile shrimp in Rose Bay, found that freshwater intrusion “definitely disrupted the salinity of small creeks in the area. The result was a smaller shrimp harvest by fishermen.”

But wetland loss isn’t just bad for fisheries. Wetlands absorb floodwaters, buffer storm surges, and keep pollution out of our waterways. Every acre lost means more homes and businesses at risk.

In North Carolina, our coastal communities have already been battered by hurricanes, rising insurance costs, rising property taxes, lack of affordable housing, and an aging drainage infrastructure that can’t keep up with heavier rains. Weakening wetland protections only adds fuel to the fire. It shifts costs onto property owners, local governments, and taxpayers — many of whom will be left paying for flood damage that could have been prevented.

Commonsense approach to conservation

Those lessons from the 1970s helped shape policies that kept North Carolina’s wetlands intact for decades. But now, history is repeating itself. The rollback of WOTUS protections and the state’s decision to weaken its own rules mean more wetlands will be drained, increasing flooding, pollution, and economic losses.

This shouldn’t be a divisive political issue. Wetland protections aren’t just about environmental policy — they’re about practical economics, public safety, and community well-being. They help prevent costly flood damage, safeguard private property, and support the resilience of coastal economies that depend on fisheries, tourism, and clean water.

Jim Brown of the Division of Marine Fisheries put it best nearly 50 years ago:

“We love beans and beef, and we have a serious need to extend agricultural operations. At the same time, we dearly love shrimp and oysters. There exists a very serious need for imposing compatibility between the two. Can it be done? That’s the question. Or do we just keep plodding along with our fingers crossed?”

If we ignore history, we aren’t just crossing our fingers — we are guaranteeing a grim future for our coastal communities. The fishermen of Rose Bay warned us decades ago. Will we listen this time? Or will we, once again, pay the price for failing to protect the wetlands that sustain our way of life?

Opinions expressed by the authors are not necessarily those of Coastal Review or our publisher, the North Carolina Coastal Federation. See our guidelines for submitting guest columns.

The University of North Carolina Wilmington business school’s measure of ocean-based industrial performance showed mixed results during February but outperformed the indices described as its closest benchmarks.

The UNC Wilmington Blue Economy Index (Bloomberg Ticker: BLUEECO) tracks the economic activities in the oceans based on the World Bank definition of the Blue Economy. The index rose by 3.7% in February, beating the MSCI All World Index, the S&P 500, and the S&P Industrials, which showed flat to negative returns during the month, mostly attributed to the Trump administration’s chaotic trade policy.

Goldman Sachs earlier this week lowered its year-end S&P 500 projections after the index on Monday saw its biggest single-day slide since Dec. 18, erasing $4 trillion in gains.

Among blue economy sectors, the energy sector saw the worst performance in February, slipping by 14.7%. “The drop was mainly due to geopolitical tensions and policy decisions, particularly ongoing U.S. tariffs,” UNCW said in announcing the results.

Consumer demand was also down significantly.

The UNC Wilmington Blue Economy Index was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, or CIE, CIE’s Alliance for the Blue Economy, and FactSet. The index measures economic activities in oceans and waterways.

February was the second straight month of positive return from the UNCW Blue Economy Index.

The materials sector led with a 4.3% gain; industrials followed with a 4% gain; utilities a 3.6% gain; consumer staples were down 6.6%; and consumer discretionary sector down 12.8%.

The consumer discretionary sector was dragged down by poor performances from Carnival and Norweigian Cruise Line that UNCW officials said were partly due to a policy change requiring them to pay federal income tax in the U.S.

“After previously flying ‘flags of convenience,’ which allowed them to avoid U.S. income tax, this new requirement will negatively affect their earnings,” according to the announcement.

Materials, the strongest performer during February, saw demand for commodities, particularly in the United States and China, as well as higher commodity prices globally.

Four of the top five performers in the BLUEECO Index were in the industrials sector: Wisdom, U Ming Marine, Esco Technologies, and A P Moller Maersk. 

Less than two weeks after Inauguration Day, the University of North Carolina Wilmington’s Blue Economy Index plummeted to almost 10% of its historical high.

President Donald Trump’s return to the White House, where on Day 1 he immediately began firing off a slew of executive orders unraveling those of his predecessor, clearly spooked investors of ocean-related economic activities.

But that’s not an atypical reaction when a newly seated president is certain to create upheaval in terms of policy changes, according to Dr. Miran Hossain, UNCW’s associate professor of finance.

Hossain doesn’t suspect it will last because, as he puts it, “you can’t deny the ocean.”

“Policy uncertainty does affect the market volatility,” Hossain said. “I totally believe that the underperformance that the index is showing, it’s definitely because of investors panicking and not knowing what’s going to happen for the next four years, at least in terms of the policies.”

The UNCW Blue Economy Index went live a year ago, debuting as a first-of-its kind benchmark that tracks companies that earn revenue through the use of ocean resources. This can be anything from cruise lines to offshore energy companies — oil, gas or wind — to container shipping, marine equipment and construction.

The index was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, or CIE, and CIE’s Alliance for the Blue Economy.

The index, ticker: BLUEECO for those of you who check the Bloomberg terminals, specifically focuses on companies that use sustainable practices.

Last September, the index hit a historical high with better than 7% growth.

After screening thousands of companies from around the globe, the UNCW Blue Economy Index’s creators pared down the number to about 90. The index gauges how these companies are performing by combing their stock prices into a single number, which tracks their combined daily value.

The index essentially tells us about the health of blue economy, whether good or bad, and in which direction it’s going, Hossain explained.

“Why it’s going in a certain direction, that’s something to look at even more because it could be because of some policy. It could be because the companies are really not doing well because of some reason that we don’t know,” such as a company’s earnings, he said.

For that reason, it’s too early to conclude why the UNCW Blue Economy Index has been a low performer compared to some of the typical, larger indexes like the MSCI All World Index, S&P 500, and S&P 500 Industrials, since Trump’s election.

Yet there’s no doubt Trump’s second term is having an effect.

Hossain recently provided a snapshot of the index’s performance in pockets of time between Election Day and Trump’s first week back at 1600 Pennsylvania Ave.

The S&P 500, which is a kind of measure of the overall U.S. economy, earned about a 4 to 4.5% gain during the week of Nov. 5, 2024. The MSCI All World Index, one that’s more representative of the university’s Blue Economy Index because it, too, includes the stocks of companies from around the world, had about a 2.3% gain.

UNCW’s Blue Economy Index’s performance that same week eked out at only about 1.5%, making it the worst performer of out of any of its comparable benchmarks.

“It’s just a short time period, I agree, but it is also good to just zoom in and see what happened during that period of time,” Hossain said.

Fast-forward to Trump’s first week back in office, where he signed dozens of executive orders impacting policy on everything from immigration and climate change to offshore energy, the Blue Economy Index showed a return of around 0.6%, compared to the other benchmarks, Hossain said.

“So, certainly not a good picture for the blue economy,” he said. “I’m expecting this policy shift is the major reason, but still not coming to a conclusion before looking deeper at these companies.”

This is where UNCW students enrolled in the Blue Economy Index course come in. They’re being tasked with analyzing and researching individual companies in the index to determine what’s been happening with them during the last two to three months.

Hossain was asked what advice he might have for blue economy investors.

“That’s a tough question,” he said.

The blue economy is not strictly clean energy-producing companies. It’s not purely green.

So the fact that sustainability isn’t expected to be promoted under the Trump administration will not have as much of an effect on the blue economy as, say, a solar company.

“We do need this huge marine transportation system,” Hossain said. “We do need the ports. If we look at in long-term perspective, you can’t deny the ocean. You can’t do business without keeping the ocean and the waterways in your equation. When these uncertainties ease up and we have a better idea about the tariff situation, where the Trump administration is going in that regard, I think we’ll have a better idea and the index would probably start going back to where it was.”

WILMINGTON – The University of North Carolina Wilmington Blue Economy Index, which measures the economic activities in the world’s oceans, rose by 0.02% in November, but still underperformed its closest benchmarks, according to a Monday news release.

The index is published on Bloomberg (Ticker: BLUEECO), which provides daily financial data.

Following a strong September showing with better than 7% growth, the UNCW index slipped by 4.55% in October, falling below the performance of its closest benchmarks, which include the MSCI All World Index, the S&P 500, and the S&P Industrials.

“The modest performance from BLUEECO can be attributed to uncertainty surrounding the United States election,” according to the release.

UNCW said the S&P Industrials increased 7.16% over the month, while the MSCI and S&P 500 showed gains of 3.27% and 5.30%, respectively.

The UNCW index’s top performer was Lindblad Expeditions, a U.S. company specializing in small-ship adventure and expedition cruises that posted a 41% return over the month. The growth was attributed to stronger-than-expected revenues.

Scottsdale, Arizona-based TPI Composites, a global manufacturer of composite wind blades used in wind turbines, was the worst performer in the index, with a 41% decline during the month. UNCW noted that the company was dogged by high operating expenses, an inability to fully pass on cost increases to customers, continued competitive presses from Chinese manufacturers, and potential inflationary challenges in regions such as Turkey.

The UNCW index follows the World Bank definition of the Blue Economy and was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, or CIE, CIE’s Alliance for the Blue Economy, and FactSet to quantify economic activities in oceans and waterways.

Want to see the blue economy in action in North Carolina?

There’s a map for that.

The University of North Carolina Wilmington’s Center for Innovation and Entrepreneurship has launched an interactive map pinpointing key blue economy businesses, startups, assets and resources in an effort to boost economic activities in the state that are related to oceans and waterways.

“The goal is to create a comprehensive database that supports entrepreneurs, fosters collaboration, and inspires North Carolinians to engage with and expand their efforts in the Blue Economy,” according to a university news release. “This tool provides a visual snapshot of NC’s potential to become a national leader in sustainable, ocean-focused innovation.”

The university has cited the World Bank’s definition of the blue economy as “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.”

The map is part of the center’s All Blue program and covers 10 individual sectors ranging from offshore wind to aquaculture. Resources including NC Sea Grant office locations and ongoing offshore wind projects with various electrical partners are also noted on the map.

The UNCW Center for Innovation and Entrepreneurship, or CIE, collaborated with the university’s Cameron School of Business, CIE’s Alliance for the Blue Economy, and FactSet to develop the UNCW Blue Economy Index.

The index is the first of its kind to measures economic activities in the world’s ocean and waterways, with a focus on environmental impact.

The index fell by 4.55% in October, underperforming its closest benchmarks following what had been a gain of 7.17% the month prior.

During October, the index slightly decreased in its MSCI All World Index benchmark by -1.60%, S&P 500 by -0.06%, and S&P 500 Industrials by -1.38%, according to a university release.

Index performance was heavily boosted by the consumer discretionary sector, which was driven primarily by the cruise line industry where top performers Norwegian, Carnival, and Royal Caribbean saw gains exceeding 20%.

Industrials, on the other hand, saw a decline of 7.34% for the month.

WILMINGTON – The University of North Carolina Wilmington Blue Economy Index, which measures the economic activities in the world’s oceans, rose by 7.17% in September and beat the performance of its closest benchmarks.

The UNCW index follows the World Bank definition of the Blue Economy and was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, or CIE, CIE’s Alliance for the Blue Economy, and FactSet to quantify economic activities in oceans and waterways.

“With a particular emphasis on environmental impact, this index offers investors unparalleled insights into the burgeoning economic landscape surrounding coastal communities,” according to the collaborators, who said the index outperformed its closest benchmarks, the MSCI All World Index, the S&P 500, and S&P Industrials, during September.

The S&P Industrials showed a slight increase of 3.27% over the month, while the MSCI and S&P 500 lagged S&P Industrials but still delivered positive returns for the month showing gains of 2.25% and 2.02%, respectively.

“The strong performance from BLUEECO pushes the index to over 100% returns since its inception date in April 2018,” according to the collaborators.

Beijing-based Goldwind, the leading player in the wind energy industry, saw its share price increase by 31.3% in September and was the index’s top performer. It was the company’s strongest showing since 2021, and UNCW index collaborators said its profitability boosted investors’ confidence.

“Not only does the increase in net profits boost stock prices but industry trends have shown an adoption of renewables which correlates to Goldwind’s price rise,” collaborators said.

The energy sector boosted the index performance by posting returns of 11.17%. The materials sector, however, realized the lowest performance after posting 5% returns in August but maintained a positive contribution of 0.39%.

Singapore-based Marco Polo Marine, which provides vessel chartering for various marine operations and support for offshore companies, led the energy sector with its stock price rising by 22.33%.

Four companies saw returns of more than 20% September, including Norway-based Wallenius Wilhelmsen, a global shipping company specializing in vehicle transportation, that saw a 25.77% increase in September.

Wan Hai Lines of Taiwan saw a 24.72% increase during September.

“The growth of these Blue Economy companies should not go unnoticed, as The United Nations predicts extreme growth in the Blue Economy. Pointing towards growth from a current $1.5 trillion contribution to global GDP to $3 trillion by 2030,” collaborators said.

Mitsui E&S, a Japan shipbuilding, marine engineering and renewables firm, saw a loss of 11.7% over the month, making the company the worst performer in the index.

The UNC Wilmington Blue Economy Index does not feature any North Carolina-based firms among its U.S.-based holdings, “but three of our holdings have strong connections within the state,” Colin Waltsak, a research assistant in the UNCW Economics and Finance Department, told Coastal Review Wednesday.

They include General Electric, which has power-generation and industrial operations in North Carolina, recently invested in research and development in the state to advance technologies that support sustainable practices in the marine and coastal environment.  The company saw an 8.15% increase in September, Waltsak said.

Houston-based Kirby Corp. also has a presence in North Carolina, where they focus on diesel engine services and marine transport. The company’s share price increased 2.09% during the month.

Standex International, based in New Hampshire, also has presence in the state in the food service equipment industry, specifically supporting sustainable fisheries and aquaculture, saw a 2.31% increase in September.

The University of North Carolina Wilmington said Wednesday that its Blue Economy Index rose by 3.07% in August but still slightly underperformed its closest benchmarks.

The UNCW Blue Economy Index measures the economic activities in the oceans and follows the World Bank definition of the Blue Economy. It was originally developed in 2018 but officially launched in this year in February.

“The modest performance from BLUEECO doubles the performance of last month’s return,” UNCW said in a press release.

The UNC Wilmington Blue Economy Index was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship, CIE’s Alliance for the Blue Economy, and FactSet, a global data and software firm. The UNCW index measures economic activities in oceans and waterways and places an emphasis on environmental impact, offering investors insights into what its developers describe as a “burgeoning economic landscape surrounding coastal communities.”

While the index underperformed the MSCI All World Index, the S&P 500, and S&P Industrials, according to the UNCW analysis, the benchmarks delivered similarly modest gains during the month.

That’s except for the S&P Industrials, which experienced a 4.58% increase in August. The MSCI and S&P 500 showed gains of 3.77% and 3.70%, respectively.

“Since April 27th, 2018, our index has outperformed MSCI All World Index by 11.91%, making it very appealing to investors,” Colin Waltsak, a research assistant in the UNCW Economics and Finance Department, told Coastal Review Wednesday. “Not only this, but the United Nations believes the Blue Economy will grow over 50% by 2030. Our index is a great tool for investors who are aiming to capture long term growth of the Blue Economy and shines light on the economic importance of coastal communities.”

The sector saw majority positive contributions to the index, according to university index analysts. The materials and real estate sector helped the index performance by posting returns of 4.99% and 4.89%, respectively. The energy sector, however, dipped into the negatives with returns of -6.82% over the month, according to the UNCW analysis.

UNCW noted that the materials sector was dominated by Schouw and Co., a supplier of feed for aquaculture. Schouw also is one of the largest suppliers of hydraulics in Denmark, producing hydraulic systems for industries including offshore wind energy.

The top performer within the index was CS Wind, a South Korea-based company specializing in manufacturing and sales of wind towers for offshore wind energy. CS Wind saw an increase of 29.48%, attributed to an earnings statement showing 99% growth over the year. The company had acquired Vesta Towers America, providing entry to the North American market.

The worst performer in the index was Grieg Seafood, a Norwegian salmon farming company that saw a 17.77% decrease over the month attributed to reduced harvest volumes, down by 7,000 tons. “The company also faced challenges with fish health and environmental issues which led to a higher mortality rate, straining operations, and contributing to economic loss,” UNCW officials said in the analysis.

The University of North Carolina Wilmington said Wednesday that its monthly measure of ocean-related economic activities underperformed its closest benchmarks last month.

The index that measures economic activities in the oceans fell by 3.71% in June. It was the first time in two months that the index underperformed its closest benchmarks, the MSCI All World Index, the S&P 500, and the S&P 500 Industrials.

The index is published on Bloomberg (Ticker: BLUEECO), which provides daily financial data.

While the Blue Economy Index delivered the weakest gains throughout the month, its benchmarks experienced modest gains, UNCW announced. The S&P Industrials showed a slight increase of 0.24%, while the MSCI and S&P 500 competed for the top-performing benchmark with gains of 1.68% and 3.31%, respectively.

The collaborative attributed Blue Economy Index’ negative performance to a “pullback” from strong returns of more than 12% combined in April and May.

“Every sector contributed negatively to the index except for the Real Estate sector,” according to the UNCW collaborative. “Real Estate contributed to keeping the index from providing lower returns, and made the most significant contribution, posting returns of over 16%. This stunning performance comes from the stabilization of interest rates, and an uptick in mergers and acquisitions in the sector throughout the month.”

Coastal Review first reported on the UNCW Blue Economy Index June 7, noting that it was developed in 2018 but officially launched in February of this year. It’s a collaboration among the UNCW Cameron School of Business, the UNCW Center for Innovation and Entrepreneurship, CIE’s Alliance for the Blue Economy, and FactSet.

The UNCW collaborative said the index’ top performer was Lindblad Expeditions, a US-based cruise company that saw an increase of 26.47%, reflecting positive trends for the cruise industry.

The worst performer in the index was Nordex SE, one of the world’s largest wind turbine manufacturers. The company reported a 22.23% decrease attributed to order slowdowns amid rising second-quarter prices.

The renewable energy sector showed weak returns throughout the month as investors cashed in on gains, UNCW said.

The University of North Carolina Wilmington said Wednesday that its monthly measure of ocean-related economic activities rose 10.11% in May.

Colin Waltsak, a research assistant in the UNCW Economics and Finance Department, told Coastal Review Friday that the UNC Wilmington Blue Economy Index was originally developed in 2018 but officially launched in February of this year.

The index is published on Bloomberg (Ticker: BLUEECO), which provides daily financial data.

“Our index measures global ocean economic activities. Just as the S&P 500 Index reflects the health of the US capital market, our index offers an estimate of the blue economy,” Waltsak said in an email response.

He said the goal is to get the index picked up by an asset manager to take it public.

The index, which follows the World Bank definition of the “Blue Economy,” a broad swath of sustainable uses of ocean resources. These include the harvest of living and nonliving resources, renewable or inexhaustible natural forces such as wind or wave energy, carbon sequestration, and ocean- and waterways-based commerce, transport and trade.

“The index continues to outperform its closest benchmarks, the MSCI All World Index, the S&P 500, and the S&P 500 Industrials,” UNCW said in the announcement. “While S&P 500 Industrials showed the weakest gains throughout the month, rising only 1.69%, the MSCI All World Index and S&P 500 were neck and neck, achieving 4.10% and 3.93% respectively. Despite these major indices showing modest growth in May, the Blue Economy Index surged past them, delivering gains more than double those of its nearest benchmark (MSCI) and closing the month with a remarkable 10.11% increase.”

The top performer, according to the index, was TPI Composites Inc, a US-based wind blades manufacturer, which saw a 72.33% increase. The gains followed a recent earnings report in which TPI announced revenues that were 0.94% higher than expected.

A Taiwan-based shipping company, Wan Hai Lines Ltd., also performed strongly, posting a return of 57.70% for the month after launching a direct service from Indonesia to West India.

According to the index, the worst performer was Mitsui E&S Holdings, a shipbuilding company in Japan focused on engines and automated gantry cranes. The firm had posted a disappointing earnings report for the first quarter.

The UNC Wilmington Blue Economy Index was developed in collaboration with the UNCW Cameron School of Business, UNCW Center for Innovation and Entrepreneurship (CIE), CIE’s Alliance for the Blue Economy, and FactSet, a data and software firm serving investment professionals worldwide.

The UNCW index places an emphasis on environmental impact and offers investors insights into what its developers describe as a “burgeoning economic landscape surrounding coastal communities.”

The All Blue 201 workshop scheduled for 1-3 p.m. Tuesday in Wilmington is an opportunity to delve into a comprehensive discussion of the coastal economy in North Carolina.

The workshop is hosted by and will take place at University of North Carolina Wilmington’s Center for Innovation and Entrepreneurship, or CIE, 803 South College Road.

Register online to save a spot. There is no charge attend.

Attendees will examine various aspects of the blue economy and discuss topics such as whether the seafood we’re eating is sustainable, how to grow entrepreneurial ecosystems to support the blue economy, what to know about blue economy policy, how to create a blue economy financial index, and how to build an EcoTech Innovation Engine.

Speakers on the schedule are CIE Scientist in Residence Troy Alphin, as well as Dr. Jenny Biddle, program coordinator for the master’s of coastal and ocean policy. Visitors will also hear from CIE Entrepreneur in Residence Richard Keary and Jay Schach, CIE entrepreneur educator, Cameron School of Business adjunct.

Attendees will be asked to provide their perspectives.

WILMINGTON – More than 127 million people, 40% of the population, live in America’s coastal communities where rising seas and more frequent, intense coastal storms are challenging convention.

Here to take on those challenges is a growing workforce of entrepreneurs tapping into what proponents and practitioners call the blue economy.

The blue economy is collectively defined by the World Bank and U.S. National Oceanic and Atmospheric Administration, or NOAA, as the sustainable use of ocean resources to grow coastal economies while preserving the ocean’s ecosystem.

America’s blue economy in 2019 supported more than 2 million jobs and contributed nearly $400 billion to the nation’s gross domestic product through things like tourism and recreation, commercial and recreational fishing, power generation and research, according to NOAA.

The blue economy that year outpaced the country’s economy “in its entirety,” the administration said.

The University of North Carolina Wilmington’s Center for Innovation and Entrepreneurship, or CIE, has taken notice and, since 2020, been ramping up a program to promote blue economic-driven initiatives.

“I think the one way that I would say we are evolving is toward the ocean innovation space, the blue economy,” CIE Director Heather McWhorter said.

CIE was created a decade ago following a request from Wilmington Chamber of Commerce officials to the university’s then-Chancellor Gary Miller.

“At that time in Wilmington there wasn’t a place for entrepreneurs to gather,” McWhorter explained.

The center, located a short distance from the main campus on College Road, is part of the university’s research and innovation, assisting entrepreneurs in the community as well as faculty and student entrepreneurs.

One aspect of CIE that makes it particularly unique is its mentor program, which consists of 140 volunteer mentors who can share personal experiences from starting their own businesses.

Though some of the volunteers actively work, many are retirees who moved from northern cities to New Hanover County for its beaches and warmer climate.

“We have this incredible knowledge and people who have scaled businesses and been leaders of companies to work with people with ideas that are getting started and I would call that one of our signature programs just because we can help so many different types of entrepreneurs along that journey,” McWhorter said.

In 2022, CIE served 236 entrepreneurs, who, in turn, created 50 jobs and raised $25 million.

Roughly 10% of those entrepreneurs were aiming for startups in the blue economy.

“I think it has grown and we want to continue to grow that. That’s really a huge opportunity for us a region, as a state,” McWhorter said.

CIE hosted last month an Ocean Innovation Conference, an on-campus event that sold out to an audience who listened to discussions from entrepreneurs, scientists and researchers about ocean-based innovation and technology, investment opportunities in those innovations, and ventures being undertaken to preserve ocean resources.

Wilmington last year ranked No. 2 worldwide among cities with populations between 100,000 and 300,000 by StartupBlink, a global startup ecosystem mapping and research center.

This region’s entrepreneurs are solving big problems, McWhorter said.

There’s OpiAID, a life science company that creates personalized plans for people in addiction treatment; SeaTox Research Inc., which was founded in 2013 by a UNCW clinical research professor and her husband, uses marine resources to develop natural products into new bio-actives and better methods to test for toxins that can contaminate commercial seafood; and Local Catch, an app that connects people and businesses within the commercial fishing industry to buy and sell local seafood.

“They’re solving the opioid crisis. They are taking on other sustainability issues, but what I would say is that everyone here loves the ocean and that’s why they came here,” McWhorter said.

So, she’s sparking in entrepreneurs the idea of solving problems related to the ocean and the opportunities associated with solving those problems “in a big way.”

“It’s not simply picking up plastic on the beach,” McWhorter said. “These problems are big and complicated and need to be thought of in a big way for big solutions. How can we get entrepreneurs, businesses, citizens, retirees, all of the above interested in this idea of problem solving related to the ocean and coastal resiliency of where we live. I know blue economy can be bigger because there are opportunities and it’s not about taking from the ocean, it’s about helping the ocean. It’s about problems like how we can work with this wonderful resource that we have, but also the business model has to be viable.”

CIE has a startup incubator that helps startups by providing workspace, mentoring and training, and seed money, and offers programs for entrepreneurs pursuing high-tech and science-based companies.

There’s a pitch coach to help entrepreneurs refine what they present their ideas to specific audiences, raise capital, or raise federal grant funding.

Every Wednesday, CIE offers a networking opportunity at 9 a.m. The center offers help with grant applications as well.

The region has what McWhorter said is a “gargantuan opportunity” to expand blue economic opportunities.

Wilmington’s geographic location to the ocean and intricate system of waterways, the strength of the university’s research base — UNCW’s Center for Marine Science has more than 120 researchers alone — and Cape Fear Community College’s workforce development puts it at an advantage to potentially become a leader in ocean innovation.

“There isn’t a blue economy hub between Boston and Miami and so if we could really start thinking about innovative approaches more here in Wilmington, perhaps that could be us,” McWhorter said. “We still have work to do. When you’re building an economy that takes time. We have volunteers that have really helped to guide thought around that, but I think at this point it is about continuing to get the right partners around the table that can help to spark this.”

The inaugural Ocean Innovation Conference scheduled for later this month will explore measures being taken to protect the ocean and advancements in ocean-based innovation and technology.

To be held 8 a.m. to 3:30 p.m. Sept. 19 at the University of North Carolina Wilmington’s Burney Center, the UNCW Center for Innovation and Entrepreneurship, or CIE, and the Alliance for the Blue Economy, or All Blue, are hosting the event.

National Oceanic and Atmospheric Administration defines a blue economy as a “sustainable and equitable ocean and coastal economy that optimizes advances in science and technology to create value-added, data-driven economic opportunities and solutions to pressing societal needs.”

There will be three speakers and panel discussions on how to make the region an blue economy hub, use of robotics to study the ocean, sustainability, strategies to grow the region’s research capacity. Throughout the day, an Innovation Expo with up to 20 innovative companies and programs will showcase their work.

“By bringing together influential figures in the industry and the region, the CIE aspires to ignite a more collaborative process in developing new ideas and innovation in the blue economy and to create a vibrant blue economy hub in Southeast North Carolina,” CIE Director Heather McWhorter said in a statement.

Cost to attend is $99 and reservations can be made online. Contact cie@uncw.edu for information on the available scholarships for students and others.

Conference speakers include Wilmington native U.S. Coast Guard Rear Adm. Laura M. Dickey, deputy for materiel readiness. Materiel is military materials and equipment. She will provide key insights about Coast Guard’s current activities and how future plans will impact coastal North Carolina.  

Marine biologist and author Wallace J. Nichols will discuss the “Blue Mind” movement, an emerging field of research, and health and wellness practice that explores the cognitive, emotional, psychological and social benefits of water. 

The luncheon keynote speaker is Jake Kheel, author of “Waking the Sleeping Giant: Unlocking the Hidden Power of Business to Save Our Planet” and vice president of the Grupo Puntacana Foundation in the Dominican Republic. Kheel, who is also an award-winning documentary filmmaker, will share information about the Dominican Coral Innovation Hub and discuss the role of the private sector in marine conservation. 

Event sponsors are NC Idea, North Carolina Sea Grant, the City of Wilmington, UNCW Center for Marine Science, Blue Mind Coworking, Cape Fear Community College Small Business Center and the North Carolina Small Business and Technology Development Center at UNCW.  

Guest commentary

June 8 is World Oceans Day, a global commemoration to foster ways we can better conserve and manage oceans and all they provide: our beaches and the family memories we create on them; recreational opportunities, such as fishing, sailing, and whale-watching; and our coastal economies, which thrive by supporting those recreational activities and harvesting and selling seafood.

As the co-owner of Locals Seafood, for me it’s a day to think about the ocean’s bounty and the opportunities it provides to my family, allowing us to proudly make our living selling a fresh and local product. While the global goal of this year’s World Oceans Day is to work toward protecting at least 30% of our “blue planet” by 2030, my interest is local, specifically on North Carolina’s seagrasses. Often overlooked and underappreciated, seagrasses are not just a picturesque element of our coastal ecosystems; they serve as a barometer for the overall health of our estuarine systems and the foundation of our entire coastal economy.

The Tar Heel State has about 120,000 acres of seagrass habitats hugging our barrier islands and enriching estuaries along the coast, more than any other state on the Eastern Seaboard. Unfortunately, in North Carolina and beyond, seagrass faces a troubling decline.

Seagrass beds provide food, refuge and nurseries for more than 75% of our marine life, including the shrimp, blue crabs and finfish so important to my business and our coastal economy. These underwater meadows also act as vital carbon sinks, capturing equivalent amounts of carbon to what’s stored by 80,000 acres of forests, and improve water quality by absorbing excess nutrients and reducing sedimentation, ensuring optimal conditions for the growth and survival of marine life. The intricate relationship between seagrass and our most important marine species highlights the importance of protecting and conserving seagrass habitats for the sustainable management of our fisheries, shellfish industry, and overall coastal economy.

But seagrasses are threatened by the same climate change-driven phenomenon they can help us overcome. Our more frequent and severe coastal storms can rip through the beds, causing damage that can take years to regenerate. Seagrass beds rarely are found in more than 6 feet of water because they require sunlight to thrive, but if the water is clouded by sediment or pollutants, they can’t get enough light to grow. Rising water temperatures, which promote the growth of light-distorting algae, and poor water quality threaten seagrasses.

Polluted runoff also poses a significant threat to seagrass habitats. As a seafood dealer driving between the Triangle and the coast, I see firsthand the sources of nonpoint pollution causing nutrient and sediment-laden runoff into our coastal estuaries. Various land uses introduce excessive nutrients into our delicate estuarine ecosystems by carrying fertilizers and sediment into nearby water bodies, where they fuel the growth of harmful algae blooms and smother seagrass beds, ultimately leading to their demise.

The Earth is losing the equivalent of two football fields of seagrasses every hour, and while North Carolina’s seagrass population is faring a bit better, it’s still declining at an estimated 1% to 2% annually.  

“Nowhere are we seeing increases in seagrasses in North Carolina,” said Jud Kenworthy, a retired scientist with the National Oceanic and Atmospheric Administration in Beaufort, and an adjunct professor at the University of North Carolina Wilmington, told Carolina Public Press in 2021. “And one thing is clear: If you don’t have seagrass, you’re going to lose fisheries.”

Seagrass loss is a clear symptom of more significant issues plaguing our coastal regions. These losses act as an alarming warning sign, highlighting the degradation and imbalance within our delicate ecosystems.

Fortunately, there are simple yet impactful actions that make a positive difference. Sustainable alternatives to traditional lawn fertilizers can help significantly improve water quality. Recreational fishers and boaters can play a role by reducing boat wakes and preventing propeller scarring, which can disturb and uproot seagrass. And to make a lasting impact, we must support and strengthen state efforts to protect the clarity of our waters.

Our state has already taken steps to conserve its seagrass beds. In late 2021, the North Carolina Marine Fisheries Commission updated its Coastal Habitat Protection Plan (CHPP), a blueprint to protect and restore seagrasses and other estuarine habitats. It provides specific direction to state commissions and agencies, and identifies ways that towns, organizations, businesses, and even individuals can help protect and restore coastal habitats.

World Oceans Day gives us an opportunity to both appreciate the progress North Carolinians have made and to also assess the work we still must do to keep our communities economically strong and environmentally resilient.

To stimulate discussion and debate, Coastal Review welcomes differing viewpoints on topical coastal issues. See our guidelines for submitting guest columns. Opinions expressed by the authors are not necessarily those of Coastal Review or our publisher, the North Carolina Coastal Federation.

The regional concerns and global implications of wind energy, flooding and inundation, and toxins and pollutants will be examined during the May 17-19 Global Marine Science Summit at University of North Carolina Wilmington.

Hosted by UNCW’s Center for Marine Science at 5600 Marvin K. Moss Lane, the three-day summit will bring together international, national and local representatives from various business, community and academic stakeholders, including guest scientists from Germany, Chile, Hong Kong, UK, Colorado, Florida and Grand Bahama Island.

This year’s plenary speakers are Stuart McLelland with University of Hull’s Energy and Environment Institute in the United Kingdom, Rainer Lohmann in the graduate school of oceanography at the University of Rhode Island, and Elisa Berdalet with the Institut de Ciències del Mar in Barcelona, Spain.

Key topics include the following:

• Wind energy is emerging as a leading solution to global energy demand, and the development of several wind farms along the North Carolina coast is underway. Wind farms have environmental challenges too, but they will help mitigate carbon that impacts climate change and sea-level rise.
• With sea level rise and flooding from rivers, water encroachment is actively impacting communities and causing health hazards, particularly marginal and underserved communities.
• Sea level rise and flood waters serve as transport of chemicals, such as PFAS, and phenomena of harmful algal blooms are further amplified by flooding and water quality.

These topic areas present significant opportunities for growing the blue economy, which is the “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems,” according to the World Bank.

For registration and accommodations, visit the 2023 Global Marine Science Summit website. Cost for all events over the three-day summit is $300, or $100 for students, and $75 per person, or $25 for students, for one day only of the summit.

Federal fisheries officials say seafood is good for people, good for the economy and good for the planet and have unveiled a draft plan for supporting the seafood industry.

The public is invited to review and submit comments on the draft National Seafood Strategy released Tuesday.

National Oceanic and Atmospheric Administration Fisheries said the strategy underscores NOAA’s commitment to seafood sector resilience and aligns with the administration’s goals for economic recovery, environmental sustainability and climate resilience.

Related: Seafood and A Healthy Diet

NOAA Fisheries also noted that the White House Conference on Hunger, Nutrition, and Health points to the need for increased seafood consumption in the United States, which the strategy aims to address.

Officials said the strategy also responds to the unprecedented challenges facing the U.S. seafood industry, including climate change, the coronavirus pandemic, new technologies and other ocean uses, and significant labor shortages and aging infrastructure.

The plan includes four goals: sustain or increase sustainable U.S. wild capture production, increase sustainable U.S. aquaculture production, foster access to domestic and global markets for the U.S. seafood, and strengthen the entire U.S. seafood sector.

Public comments are integral to finalizing the strategy and helping guide the direction of work to support the seafood sector, NOAA Fisheries said.

Written comments may be submitted online until March 16.

NOAA Fisheries is hosting two virtual listening sessions, March 2 and March 9, to present the draft strategy and gather input. The agency said it would schedule additional consultations with Tribal nations on request.

The sessions are scheduled as follows:

• Listening Session 1: 2 p.m. March 2.
• Listening Session 2: 5 p.m. March 9.

This is part of a series of special reports by Catherine Kozak, who attended the COP26 climate conference held in November.

WANCHESE — At the start of year two of the United Nations’ Decade of the Ocean, the Coastal Studies Institute on the Outer Banks has merged into the emerging blue economy as part of a global scientific collaborative to harness the power of waves, currents and tides.

The Coastal Studies Institute, an outpost of the North Carolina university system renowned for its innovative coastal science, is partnered with three other East Coast academic institutions in the new Atlantic Marine Energy Center, or AMEC, one of only four National Marine Renewable Energy Centers in the country.

Although the new center is still being organized, it was officially announced in November. That’s about the same time that Scotland was hosting the 26th session of the Conference of the Parties, better known as the U.N. climate conference or COP26, which included the blue economy as a critical approach towards mitigating climate change impacts.

With its mission to support and expand sustainable renewable ocean energy, AMEC will focus on research and development.

“Us being part of that group, I think, really identifies us as a leader in the U.S. with advancing marine energy,” George Bonner, director of the North Carolina Renewable Ocean Energy Program at the Coastal Studies Institute, said in a recent interview.

Led by the University of New Hampshire, the partnership was awarded $9.7 million over four years from the U.S. Department of Energy. The institute, which is administered by East Carolina University, is also partnering with Stony Brook University in New York and Lehigh University in Pennsylvania.

“Really it’s about increasing collaboration on the East Coast, and the focus of the Atlantic Marine Center is on the blue economy,” Bonner said.

Blue economy is a term that broadly describes the sustainable use of marine resources to promote economic growth and social equity while reducing environmental harm.

In opening a presentation during COP26 about funding the blue economy, Peter Thomson, the U.N. secretary general’s special envoy for the ocean, characterized marine energy and other sustainable uses of ocean resources as “part of the huge revolution in technology” on a scale comparable to moving from the Stone Age to the Iron Age.

“It’s just logic, folks,” said Thomson. “Seventy percent of the planet is covered by the ocean. Ninety-five percent of the biosphere of this planet is in the ocean.”

Thomson said it will take “trillions” to fund the blue economy, but he sees it as essential to transformation of consumption and production.

‘We’re at the cusp of that time when we move from linear exploitation of finite planetary resources into an age where everything is circular, where we recycle and understand that we have to live within harmony with nature,” he said.

In December 2017, the United Nations declared 2021-2030 “The Ocean Decade,” to ensure that ocean science can underpin the U.N’s climate goals and policies.

“The Ocean Decade provides a ‘once-in-a-lifetime’ opportunity to create a new foundation across the science-policy interface to strengthen the management of the ocean and coasts for the benefit of humanity and to mitigate the impacts of climate change,” the U.N. said in a statement.

With its location alongside the Croatan Sound, a part of the Albemarle-Pamlico estuary, the second-largest estuarine system in the nation behind the Chesapeake Bay, and within miles from the Atlantic Ocean and the Gulf Stream, the Coastal Studies Institute is poised to be a valuable partner to advancing the blue economy. 

Bonner said that he envisions the Outer Banks institutes’ focus with AMEC will include aquaculture, seawater desalination and increasing resiliency for coastal communities.

“Our main part of this new consortium is going to be to advance our testing capability that’s at Jennette’s Pier,” he said, referring to the state-owned ocean pier in Nags Head where the institute conducts some of its renewable energy studies. “We’re going to be installing a microgrid, which will allow us to connect scale devices to a microgrid so we can validate the energy production that they’re producing.”

An important gain for the institute from the new partnership will be obtaining accreditation for its marine energy program with the assistance of an AMEC partner, the European Marine Energy Centre, or EMEC, in Orkney, Scotland.

According to the European Marine Energy Centre’s website, the center, established in 2003, is the world’s first and leading facility for demonstrating and testing technologies that generate electricity from marine energy. It has also developed international standards for marine energy and works to promote a global marine renewables industry.

Once the Coastal Studies Institute and the University of New Hampshire’s programs are accredited, Bonner said, it will help innovators and developers, especially since there are still only a few accredited so far.

“If you’re testing in an accredited program, then that helps with advancing your technology and getting investment opportunities as well,” he said. 

In April, the Waves to Water competition, sponsored by the Department of Energy and the National Renewable Energy Lab, is set to be hosted by the Coastal Studies Institute and Jennette’s Pier. The contest requires contestants to build wave-powered desalination systems that could be deployed during disasters.

Each of the four university AMEC partners have well-established marine energy programs, Martin Wosnik, associate professor of mechanical engineering and AMEC director, told Coastal Review.

“We’re going through establishing the center right now, developing the central structure, developing partnerships with industry and engaging with other marine energy efforts around the country,” he said.

Next, test sites for tidal energy conversion technologies and wave energy conversion technologies are to be established, in Portsmouth, New Hampshire, and off Jennette’s Pier on the Outer Banks, respectively. 

“Those facilities are key to really get technologies in the water in the correct environment at a fairly moderate cost,” Wosnik said.

For practical reasons, the locations in the ocean will allow testing at an intermediate scale, rather than full scale.

“You want to go in with something that has other meaningful scales, so you understand how it operates,” he said. “And then you can take development from there.”

The Atlantic center is also partnering with three national marine energy laboratories in the U.S., as well as the European center. While the European Marine Energy Centre is best known for its wave energy and tidal energy test sites, Wosnik said, the facility is now also getting more involved in the emerging hydrogen economy — hydrogen energy storage, fuel cell technologies — an example of how it’s looking at the bigger energy picture.

Powering the blue economy can be utility-scale marine energy, such as huge turbines deployed in arrays that produce energy that is fed to the grid, Wosnik said. But for now, it will be mostly reflected in smaller-scaled projects that provide energy to isolated communities or for emergency purposes.

“However, what we’re doing with EMEC, and at our test site, is we’re really researching all aspects of these technologies,” Wosnik said. “The center is not engaged in ‘OK, let’s find one thing that works and that’s it.’ There’s many things, many aspects of what type of technology, what type of rotors and what kind of blades work best.”

Then there are issues with corrosion, bio-fouling, operational maintenance, testing materials for resilience to the kind of loading that the ocean inflicts. What oils and lubricants are effective but not polluting?

“It’s a very turbulent environment,” he said. “There are many, many aspects that still need to be sorted out.”

But Wosnik said it’s worth remembering that wind energy, which is now cheaper than fossil fuels, was hardly on anyone’s radar 20 or 30 years ago.

The marine energy industry in the U.S. has been held back by the lack of test sites that allow inexpensive trials and provide in-water experience, he said. And that’s not including the costs for analytical and computer modeling and laboratory analysis and other work that’s required before the onsite testing.

“There’s a lot of work that leads up to maturing technologies to be ready to be tested in open water,” Wosnik said.

With the Department of Energy support, and a global network of researchers and scientists to collaborate with, the timing for diving into the blue economy may be fortuitous. 

“I would say that we are about to get serious about marine energy,” Wosnik said. “That’s really what’s happening right now.”

A new initiative to put Wilmington and southeastern North Carolina on the map as a leader in the blue economy – trades and industry dependent on marine resources — makes its public debut during All Blue Week, Nov. 2-6.

The Alliance for the Blue Economy, also called “All Blue,” based its mission on the World Bank’s definition of blue economy, “the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of the ocean ecosystem.”

The University of North Carolina Wilmington’s Center for Innovation and Entrepreneurship launched Sept. 28 All Blue, which is made up of an advisory board of science and business leaders who focus on attracting, advising and launching businesses in the blue economy, according to the website.

During All Blue Week, more than a dozen sessions, seminars, recreational opportunities and tours are planned around Wilmington and on UNCW’s main and marine science campuses, including the Nov. 6 Hack for a Blue Economy, or Hackathon, co-sponsored with Cape Fear Collective. There’s no charge to attend most events, but organizers recommend registering in advance.

All Blue Advisor Kim Nelson told Coastal Review that the All Blue team has worked for years to identify areas of the blue economy relevant to southeastern North Carolina. Those identified include coastal resilience, hospitality, recreation, tourism, sustainable aquaculture and fisheries, biotechnology, and engineering and robotics.

Related: UNCW Center kicks off ocean-focused economic initiative

 “We are hosting the All Blue Week and All Blue Hackathon to bring people together to learn more and think about how they might get involved,” she said.

Deborah Westphal, author of the new book, “Convergence: Technology, Business and the Human-Centric Future,” kicks off All Blue Week Nov. 2 with an opening address, and the week closes with the all-day Hackathon on Nov. 6. As its name implies, the Hackathon is geared toward techy types of all skillsets and covers how data can inform the sustainable use of ocean resources for economic growth while preserving the ocean ecosystem. Register online to attend the Hackathon in Wilmington or join virtually.

Nelson and fellow Hackathon organizer Nick Pylypiw, who is director of data science at Cape Fear Collective, explained in an email response to Coastal Review that the goal for the Hackathon is twofold.

First, they hope to educate the local technology and scientific community on some of the challenges and data sources around the blue economy. “By raising awareness of these local economic challenges, we hope to foster increased focus on data collection and analysis, as well as policy and recommendations,” they wrote.

Second, the output from the Hackathon, such as code, visualizations, recommendations and data can help to build a foundation of community resources for future work within the blue economy.

“This sort of event can be a catalyst for change, sparking the imagination of the community and creating momentum to build sustainable economic outcomes,” they wrote.

Nelson and Pylypiw said they want Hackathon attendees to leave with a better understanding of the blue economy and why it’s crucial for the region. They want it to spark interest for future events and collaborations.

The Hackathon team spent years working on a strategy and a consistent message about the blue economy.

“We have been looking for ways to engage a larger audience and to start to map currently available datasets specific to the blue economy,” Pylypiw and Nelson wrote in the email.

One member of the All Blue team brought up the idea after a hackathon held by the Cape Fear Collective in April that was specific to affordable housing. All Blue then reached out to Cape Fear Collective about collaborating.

“Fortunately for us, they had an interest in coastal resilience and the partnership was born,” Nelson said.

Cape Fear Collective, founded in 2019, brought together corporate, nonprofit and municipal entities in the aftermath of Hurricane Florence and two main themes emerged as gaps in the nonprofit world.

“The first need was data. Organizations needed it to be hyper local, timely, and easier to action to better distribute resources based on its insights. The second need in the nonprofit community was more funding,” they wrote, noting that revenues for the region’s nonprofits had historically lagged peer regions in the state on a per capita basis, “often amid a more dire need and frequent natural disasters.”

The collective created a localized nonprofit investment platform that allows for private capital to drive social causes from affordable housing to workforce development, small business and transportation sectors, they said.

All Blue Week Schedule

Inside Cape Fear Community College’s Marine Technology and Boat Building Programs: 4-5 p.m. Nov. 1, at 407 North Water St. Wilmington or by zoom. During this free event, learn about the college’s 57-year history of training students for employment in industries specific to scientific work on the water, current projects and ways students contribute to the blue economy after graduation. Parking is available at college’s visitor parking lots on Water Street or on the corner of Walnut and Second streets. Register online.

Opening session with keynote by Deborah Westphal: 8-11:30 a.m. Nov. 2, UNCW Lumina Theatre, 615 Hamilton Drive, Wilmington and via Zoom. Rear Adm. Laura M. Dickey, operational commander for U.S. Coast Guard missions from the North Carolina and South Carolina border to New Jersey, will speak before keynote speaker, Westphal. John Waterston with Defense Advanced Research Projects Agency, or DARPA, an agency of the U.S. Department of Defense also will present. Register online.

Blue Economy Workshop with Deborah Westphal: 2 p.m. Nov. 2, UNCW Marbionic Building, 5598 Marvin K. Moss Lane, Wilmington. This free workshop with Westphal will discuss what the blue economy is and what it means for southeastern North Carolina. The conference table is limited to 32 people, with additional seating for up to 18 observers. Register online.

Blue Tech/New Tech Panel Discussion: 3:45 p.m. Nov. 2, UNCW Marbionic Building, 5598 Marvin K. Moss Lane, Wilmington or online via Zoom. During this free panel discussion, attendees can learn what’s new in Blue technology. Registration is preferred, but not required. Register online.

Planet Ocean Seminar: 6:30 p.m. Nov. 2, via Zoom. The UNCW Center for Marine Science will host the free, virtual seminar with speaker Monica Jain, founder and executive director of Fish 2.0 and Manta Consulting Inc. Registration is required for the virtual event. For further information, please call the UNCW Center for Marine Science at 910-962-2301. Use this link to register for the virtual event: Zoom link. To attend in-person, email helmsc@uncw.edu or call CMS at 910-962-2301.

What’s Brewing in Science?: 6 p.m. Nov. 2, Waterline Brewery, 721 Surry St., Wilmington. Join Cape Fear Museum and All Blue for the interactive session to explore the social, economic, and environmental impacts of building a sustainable future for our ocean and river economy. Registration is optional, but recommended.

Sea Change – Sparking Sustainable Innovation in an Old-School Industry: 9 a.m. Nov. 3,CMS Auditorium, 5600 Marvin K. Moss Lane, Wilmington and via zoom. Monica Jain will speak during this free seminar. In 2013, she founded Fish 2.0 to drive investor interest in new innovations and technologies supporting aquaculture and sustainable seafood. Register online.

Panel Discussion: Follow the Money – Opportunities and Challenges of Investing in Food: 10 a.m. Nov. 3, CMS Auditorium, 5600 Marvin K. Moss Lane, Wilmington and via Zoom. Join Jain and investors in this free panel discussion about investing in food-based businesses facing challenges to find growth capital. Register online.

Living Shorelines 101: 9-11 a.m. Nov. 3, Fort Caswell, 100 Caswell Beach Road, Oak Island. Cost is $5 per person. Learn about the town’s living shoreline restoration project its 170-foot oyster reef. The presentation will begin indoors and then head outdoors for a site visit to the salt marsh and restoration area. Masks required when in close proximity to others and indoors. Contact bpace@fortcaswell.com or call 910-278-9501 to register.

NC Entrepreneurs Pitch Innovative Blue Economy Ventures: 3 p.m. Nov. 3, Blockade Runner Resort, 275 Waynick Blvd., Wrightsville Beach. Cost is $35 per person. Join Jain, Ben Redding and investors from VentureSouth, WALE, and Seahawk Innovation to look at state-based startups representing a broad range of blue economy sectors from marine robotics, marine biotechnology, sustainable seafood, water quality, and more. Register online.

A Blue Tourism Experience Aboard the Blockade Runner’s Carolina Runner: 5 p.m. Nov. 3, Blockade Runner Resort and Marina, 275 Waynick Blvd., Wrightsville Beach. Cost is $50, with a cash bar on board. The Blockade Runner’s sunset cruise on the Carolina Runner will depart from the dock across from the hotel’s property. There will be a presentation on the sustainability practices that has earned the Blockade Runner designations as an Ocean Friendly Establishment and recognition by the North Carolina GreenTravel Initiative. Register online.

The North Carolina Beach, Inlet and Waterway Association’s Annual Conference: 7:30 a.m.-5:45 p.m. Nov. 4 and 7:30 a.m.-3:30 p.m. Nov. 5, Aloft Wilmington at Coastline Center, 501 Nutt St., Wilmington. Cost is $200 for both days. There will be legislative and policy updates, offshore wind energy panel discussion, mapping the effects of sea level rise on coastal habitats, NC Resilient Coastal Communities Program update, Top 10 restoration plants for coastal and marsh restoration, and Olivine Sand: A Cost-Effective Carbon-Negative Alternative for Beach Renourishment. Register online.

Tracking Great Sharks in NC Waters Using Innovative and Data-Centric Technologies: 10 a.m. to noon Nov. 4, via zoom. Cost is $10.  A SEA and Coffee presentation by Dr. Bob Hueter, chief scientist with OCEARCH, a data-centric organization instituted to help scientists collect previously unobtainable data about great white sharks in their ocean environment. Register online.

UNCW Global Marine Science Mini-Summit — Virtual Symposia and Panel Discussion: 2-4 p.m. Nov. 4, Hybrid of prerecorded presentations and virtual panel discussion via Zoom. International experts from China, Colombia, Bangladesh, Malaysia and others will join UNCW marine science faculty in a panel discussion focused on research, trends and developments in marine biotech/pharmaceuticals, coastal resiliency, tourism and aquaculture. More information and registration details are online.

North Carolina Coastal Federation’s Oyster Blueprint Update with Ted Wilgis: 2-3:30 p.m. Nov. 4, via Zoom. Ted Wilgis, coastal scientist with the federation, will discuss during this free event the link between the economic and ecological benefits of using oysters for farming, wild harvest, ecosystem services and shoreline resiliency. Learn more at nccoast.org and register online.

CMS Saturday: 10:30 a.m. Nov. 6, UNCW Center for Marine Science, 5600 Marvin K. Moss Lane. Free, one-hour tours of UNCW’s College of Marine Science’s shellfish research hatcheries and portions of the CMS and Marbionic facilities. Tours begin at 10:30 a.m. and will be offered every half hour until the final tour at 1 p.m. Tour groups will be limited to 20 and must be 12 years old or older.  Registering online before the event is necessary.

The Alliance for the Blue Economy, a multidisciplinary initiative launched Tuesday by the UNCW Center for Innovation and Entrepreneurship is to establish southeastern North Carolina as a national and global leader in the blue economy.

Blue economy is “the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of the ocean ecosystem,” according to The World Bank.

The blue economy delivered in the United States nearly $400 billion to the Gross domestic product, or GDP, in 2019, according to a report from the U.S. Department of Commerce.

The Alliance for the Blue Economy, also known as All Blue, will support blue economy entrepreneurs and innovators, promote the region as a blue economy innovation hub, assist in the creation of blue economy-ready infrastructure and attract blue economy investment capital, according to the university.

The alliance plans to work on being awarded federal, state and regional grants with government agencies, educational institutions, nonprofit organizations and private sector partners.

“The collaboration between All Blue and the CIE (Center for Innovation and Entrepreneurship) offers UNCW and the region a significant opportunity to leverage resources to attract, support and sustain Blue Economy businesses,” Stuart Borrett, associate provost for Research and Innovation, said in a statement.

In addition to region being home to UNCW, which has more than 100 faculty engaged in marine sciences and ocean/coastal preservation, Cape Fear Community College and the Port of Wilmington, the southeastern region is positioned to become a viable blue economy leader because of its extensive coastline and river estuary, its coastal access to open water and its growing reputation as a leader in technology-focused businesses that employ highly skilled workers, university officials said.

Advisory board of science and business leaders from the region and UNCW are leading All Blue that will focus on five strategic sectors: sustainable aquaculture and fisheries; marine biopharma; regenerative tourism; coastal resilience; and ocean engineering and marine robotics.

The launch Tuesday is the culmination of 18 months of planning, research and strategy development with more than 180 local business, science and academic leaders involved as volunteers and consultants. All Blue was initiated by former CIE Director Diane Durance, who remains a consultant.

“The United Nations’ declaration of 2021-2030 as the Decade of the Ocean has put a global spotlight on the critical challenges facing marine and coastal environments,” said Durance. “Federal and state support for programs and infrastructure to promote innovation and new ventures in the Blue Economy has never been stronger. This is a pivotal moment – and one we want to capture for North Carolina.”

With the launch of the Alliance, southeastern North Carolina will join the ranks of a growing number of Blue Economy hubs in the U.S. and internationally, including Boston, San Diego, Seattle and Gulfport, Mississippi. In fact, the hub in North Carolina will be the only one on the East Coast between Boston and Florida.

The Alliance for the Blue Economy will make its local debut during “All Blue Week” Nov. 1-6.

More than a dozen events are planned around Wilmington, on the university’s main campus and UNCW’s Center for Marine Science. These events will include an opening keynote address by Deborah Westphal, author of the new book “Convergence,” a blue economy hackathon co-sponsored with Cape Fear Collective, and recreational opportunities such as boat tours from the Blockade Runner resort.

More information, including details on sector leadership and initiatives, can be found at All Blue’s website and Facebook page.

UNCW’s Center for Innovation and Entrepreneurship works to identify and nurture high-growth, high-impact companies and to accelerate the entrepreneurial ecosystem in southeastern North Carolina.