18terms) of each economic activity related to the ocean needs to be determined by individual implementing bodies when developing an account. These partials naturally differ between jurisdictions based on national circumstances. This necessary inconsistency can make comparative analysis between countries challenging, though coherent ocean accounting within jurisdictions and over time offers powerful insights for policy development within countries. The transboundary nature of the ocean remains a particular challenge and is one of the key reasons why the GOAP was established and why the global, multi-institutional partnership developed its Technical Guidance for Ocean Accounting, which specifically addresses ocean-related challenges in existing accounting frameworks. This guidance continues to evolve as we learn more about the interconnected nature of our ocean. However, this should not be a barrier to implementation, if acknowledged. 2) Data collection, integration and quality issues Very often data exists for ocean accounting purposes, however, discoverability, access and transparency are challenging. Though implementation across accounting exercises commonly relies on fragmented data collected for other purposes; the lack of standardized data collection protocols, insufficiently strong metadata and limited coordination between agencies can lead to data gaps and quality concerns. Global experience demonstrates, however, that the implementation of any accounting exercise is vital to illuminate where data gaps exist and what priority data to collect. Countries may also struggle to maintain consistent time series data in environmental data, making trend analysis and policy evaluation difficult. The increasing quality and use of remote sensing and similar techniques is beginning to change this at least for nearshore waters. Again, as with the definition challenge and consistent with SNA and SEEA country-level implementation, data should not be a barrier to implementation, if acknowledged in the accounts. 3) Incomplete coverage of ecosystem elements Although a comprehensive ocean accounting framework should organize social, economic and environmental information, to date, many countries are taking an approach that predominantly emphasizes the economic aspect on market-based activities. This results in a significant oversight of several critical aspects of ocean resources and their broader impacts. The integration of environmental and economic data remains particularly challenging, with few countries successfully implementing comprehensive approaches that capture both dimensions concurrently. They often fail to adequately capture non-market ecosystem services, such as the regulatory functions of marine ecosystems that contribute to climate stability and biodiversity. Social and cultural values associated with ocean resources, including recreational, spiritual and heritage benefits, are frequently neglected, despite their importance to many communities. Furthermore, the distributional impacts across different stakeholder groups are not sufficiently addressed, leading to inequities in how benefits and burdens are shared among various populations. Lastly, the interconnections between ocean health and economic outcomes are often ignored, missing the critical link between a thriving marine environment and a prosperous economy. To support SBE development, it is imperative to expand accounting activities to encompass these non-market values and interconnections, ensuring a more comprehensive and equitable approach to ocean resource management. Ocean accounts, which link economic, environment and social dimensions, attempt to address these shortcomings. 3.1.2 Benefits of ocean accounting for sustainable development Following the existing ocean accounting activities and frameworks and improving implementation can meaningfully contribute to SBE planning in several key areas: • Strategic planning and policy development: Even incomplete ocean accounts provide valuable baseline information for policy development. They help identify key economic sectors, track growth patterns and highlight potential sustainability concerns. This information supports more informed strategic planning processes and helps align development objectives with environmental constraints. • Sector-specific management: Current frameworks often provide detailed information about traditional maritime sectors (fishing, shipping, offshore energy), enabling more effective sector-specific management approaches. This granular data can inform licensing decisions, capacity planning and regulatory frameworks. • Monitoring and evaluation: Existing accounts, despite their limitations, establish important baseline metrics for monitoring progress toward SDGs. They provide quantitative frameworks for evaluating policy effectiveness and tracking sectoral changes over time. • Integration with broader economic planning: Ocean accounts help integrate marine sector considerations into broader economic planning processes. They provide structured ways to consider ocean-related activities within national development strategies and economic policies. • Effective MSP: Integrating ocean accounting that captures economic, environmental, and social datasets enables policymakers to track critical metrics—such as ecosystem health, human activity patterns, resource conflicts, and cross-sectoral impacts—ensuring that MSP processes are grounded in data-driven decision- making. This helps develop balanced spatial plans that harmonize marine conservation with SBE.

Advancing China's Sustainable Blue Economy 2025