The seas and oceans are fertile ground for innovation and
experimentation, with new technologies including:
Maritime operations at ever-greater depths
Robotics
Video surveillance
Submersible technologies.
Technological progress has been spectacular. In general, the
open location of ports and coastal communities is conducive to the emergence of
new ideas. Achieving environmental goals is a constant source of innovation.
Biotechnologies
The oceans are a goldmine for biotechnologies. Maritime
resources can be used
In cosmetics (creams, seawater therapy, etc.)
For the agri-foods industry (food supplements,
fertilisers, etc.)
In the energy sector (notably biofuels)
In pharmacology.
It is possible to create substances derived from algae for
food and cosmetics uses. In addition, scientists have discovered that
ingredients from oysters can slow skin ageing. The production of biofuels from
the triglycerides contained in algae is another potential area of interest.
Lithium
Seawater is a virtually unlimited source of lithium, with
the seas and oceans containing some 230 billion tonnes of it.[1] However,
lithium is highly diluted in seawater.
Researchers have been working for years to extract it
using evaporation or filtering membranes. They have already managed to do so in
small quantities. Lithium is used in the glass and ceramics industries, to
produce lubricant greases and in aluminium production. It is also essential in
making electric batteries.
Energy
The enormous energy in tides, swells and waves is already being tapped. However, this is just the beginning. Innovative technologies will complement the systems already developed.
The most favourable coasts are those between the latitudes
of 30° and 60°
In the southern hemisphere due to the wave
heights
In the northern hemisphere due to the length of
the coasts in question.
The Bay of Fundy’s tidal power station between Nova Scotia
and New Brunswick in Canada and the one in the bay of Mont Saint-Michel in
France were pioneers in the field. In addition to tidal power stations, systems
using energy from waves and tidal currents (underwater turbines and wave power
systems) are also being developed.
The European Union, already quite advanced in the field of
ocean power technology, should be producing 35% of its electricity from ocean
sources by 2050.[2] Reducing the cost of technologies generating wind power is
one of the main projects on which the most innovative blue economy players are
working.
Pharmaceuticals
The ability of marine organisms other than fish and shellfish
to contribute to the blue economy is beginning to be acknowledged thanks to the
new gene sequencing technologies for living organisms. Tests of antiviral
medicines obtained from nucleotides isolated from Caribbean sponges are already
under way. That’s how high the stakes are!
The oceans are a gigantic pharmacy. Marine species are
providing the pharmaceutical industry with a wide range of new compounds that
have already led to major applications in the antiviral field, but also in
cancer and pain treatment medicines.
The animal, plant and bacterial species living in the
oceans contain impressive numbers of compounds with unexpected properties that
are of interest from a medical standpoint. Some are already known such as those
from ‘cone snails’ – gastropod molluscs.
These cousins of land snails secrete neurotoxins.
Researchers have been working with them since the 1960s. Cone snails have
enabled the development of a compound used in a powerful pain medicine that is
stronger than morphine. Researchers are currently working on developing new
medicines from cone snail compounds.
Anti-cancer agents are being produced from marine
organisms. An anti-tumour medicine has been developed from small marine
invertebrates. The most promising medicines already come from the oceans. They
have been on pharmacy shelves and have been improving our health for several
years now. The research on marine organisms being conducted around the world
should continue to unveil new therapeutic properties.
A flourishing sustainable blue economy
Innovation is an essential factor in ensuring that a
sustainable blue economy can flourish. Blue technologies hold great promise for
established and start-up companies researching and developing solutions that
have a positive impact on the oceans.
As a global sustainability theme, investing in the blue
economy is fully aligned with BNP Paris Asset Management’s sustainable
investment priorities. These are focused on the energy transition,
environmental protection and equality & inclusive growth.
We believe investing in the blue economy will help advance
the fight against climate change and ensure that the oceans can continue to
function as a sink for carbon emissions from human activity. Such investments
are suited for investors with a long-term perspective, an interest in
contributing to a greener future and making a positive impact.
In our view, finance can play a major role in pushing companies linked to the blue economy to improve their practices. Those investors who consider the preservation of marine resources as an absolute priority are set to see investment opportunities in companies that develop marine and ocean projects opening up as awareness of the blue economy’s appeal grows.
[1] According to Agence internationale de l’Énergie in futura-sciences.com 21/07/2020
Any views expressed
here are those of the author as of the date of publication, are based on
available information, and are subject to change without notice. Individual
portfolio management teams may hold different views and may take different
investment decisions for different clients. This document does not constitute
investment advice.
The value of
investments and the income they generate may go down as well as up and it is
possible that investors will not recover their initial outlay. Past performance
is no guarantee for future returns.
Investing in
emerging markets, or specialised or restricted sectors is likely to be subject
to a higher-than-average volatility due to a high degree of concentration,
greater uncertainty because less information is available, there is less
liquidity or due to greater sensitivity to changes in market conditions
(social, political and economic conditions).
Some emerging markets offer less security than the majority of international developed markets. For this reason, services for portfolio transactions, liquidation and conservation on behalf of funds invested in emerging markets may carry greater risk.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
OTTAWA – Canada’s inflation rate fell to two per cent last month, finally hitting the Bank of Canada’s target after a tumultuous battle with skyrocketing price growth.
The annual inflation rate fell from 2.5 per cent in July to reach the lowest level since February 2021.
Statistics Canada’s consumer price index report on Tuesday attributed the slowdown in part to lower gasoline prices.
Clothing and footwear prices also decreased on a month-over-month basis, marking the first decline in the month of August since 1971 as retailers offered larger discounts to entice shoppers amid slowing demand.
The Bank of Canada’s preferred core measures of inflation, which strip out volatility in prices, also edged down in August.
The marked slowdown in price growth last month was steeper than the 2.1 per cent annual increase forecasters were expecting ahead of Tuesday’s release and will likely spark speculation of a larger interest rate cut next month from the Bank of Canada.
“Inflation remains unthreatening and the Bank of Canada should now focus on trying to stimulate the economy and halting the upward climb in the unemployment rate,” wrote CIBC senior economist Andrew Grantham.
Benjamin Reitzes, managing director of Canadian rates and macro strategist at BMO, said Tuesday’s figures “tilt the scales” slightly in favour of more aggressive cuts, though he noted the Bank of Canada will have one more inflation reading before its October rate announcement.
“If we get another big downside surprise, calls for a 50 basis-point cut will only grow louder,” wrote Reitzes in a client note.
The central bank began rapidly hiking interest rates in March 2022 in response to runaway inflation, which peaked at a whopping 8.1 per cent that summer.
The central bank increased its key lending rate to five per cent and held it at that level until June 2024, when it delivered its first rate cut in four years.
A combination of recovered global supply chains and high interest rates have helped cool price growth in Canada and around the world.
Bank of Canada governor Tiff Macklem recently signalled that the central bank is ready to increase the size of its interest rate cuts, if inflation or the economy slow by more than expected.
Its key lending rate currently stands at 4.25 per cent.
CIBC is forecasting the central bank will cut its key rate by two percentage points between now and the middle of next year.
The U.S. Federal Reserve is also expected on Wednesday to deliver its first interest rate cut in four years.
This report by The Canadian Press was first published Sept. 17, 2024.
FREDERICTON – New Brunswick‘s finance minister says the province recorded a surplus of $500.8 million for the fiscal year that ended in March.
Ernie Steeves says the amount — more than 10 times higher than the province’s original $40.3-million budget projection for the 2023-24 fiscal year — was largely the result of a strong economy and population growth.
The report of a big surplus comes as the province prepares for an election campaign, which will officially start on Thursday and end with a vote on Oct. 21.
Steeves says growth of the surplus was fed by revenue from the Harmonized Sales Tax and federal money, especially for health-care funding.
Progressive Conservative Premier Blaine Higgs has promised to reduce the HST by two percentage points to 13 per cent if the party is elected to govern next month.
Meanwhile, the province’s net debt, according to the audited consolidated financial statements, has dropped from $12.3 billion in 2022-23 to $11.8 billion in the most recent fiscal year.
Liberal critic René Legacy says having a stronger balance sheet does not eliminate issues in health care, housing and education.
This report by The Canadian Press was first published Sept. 16, 2024.
