• Stephen Jordan

U.S. & Swedish Blue Economy Showcase Incentivizes Ocean-Themed Enterprises & Environmental Solutions



FOR IMMEDIATE RELEASE

Organizers Announce Launch of Hummeltorp Evolution Award 2022


Media Inquiries:

Patrizia Pelingon – 1 (833) 473-2020 ext. 700

November 4, 2022, Fort Lauderdale, Florida – With the global “Blue Economy” expected to double to USD $3 trillion by 2030, U.S. and Swedish academics, business leaders, and environmentalists are convening today to discuss how overcoming ocean environmental challenges could lead to big business opportunities in the future. To incentivize this dual process of creating commercially viable environmental solutions, the organizers of the event – the Swedish-American Chambers of Commerce of the USA, Inc. (SACC-USA), Institute for Sustainable Development (ISD), U.S. Embassy in Sweden, and Hummeltorp Sverige A.B. – will also announce the creation of the Hummeltorp Evolution Award 2022.

“Establishing the Hummeltorp Evolution Award 2022 is all about driving positive change for our environment and for people,” said Christer Otterström, CEO of Hummeltorp. “With all of the disasters that climate change is likely to cause, we have to raise awareness and recognize the entrepreneurs on the front lines seeking to do well and do good.”


Both the United Nations and the Organisation for Economic Co-operation and Development (OECD) have identified building innovation pipelines as a key strategy for addressing the negative effects of climate change, and the oceans and coast lines have become an increasing priority in this context. Ninety percent of international trade is conducted over the oceans and 60% of the populations of North America and Europe live within 100 miles of the coast. Coping with sea level rise alone is expected to be a multi-trillion-dollar problem and/or opportunity by 2050 if global temperatures rise above 1.5° Celsius.


Conversely, as much as 70% of the oceans have not been mapped and are home to 50% of all living animals.


“The oceans are having a moment,” said Stephen Jordan, CEO of the Institute for Sustainable Development. “Not only are traditional ocean industries going through an intense round of capital investment to become more sustainable, but new industries, ranging from alternative energy to biomimetics and underwater autonomous vehicles, are raising exciting new possibilities.”


The partners came together to organize this event as a collaboration between the U.S. and Sweden because while the U.S. has the largest ocean-based economy at USD $400 billion, the Swedes have had the most environmentally integrated economy since 2017.


“The Power and Promise of the Blue Economy” Forum will be held at the Broward Center for the Performing Arts.


This event is part one of the “U.S.-Sweden Blue Innovation Market Initiative.” Part two of the Blue Innovation Market Initiative will be held in Gothenburg, Sweden, on February 9, 2023. A final blue economy research report highlighting trends, challenges, opportunities, and event findings will be released early 2023.


ISD captures lessons learned from major disasters and provides technical assistance to communities to help them recover and become more resilient and sustainable in the future. For more information, visit www.isdus.org.


SACC-USA is a key facilitator in the development of trade relations and investment opportunities between the U.S. and Sweden. SACC-USA is a non-profit membership organization at the regional, national, and international levels and consists of nineteen regional Chambers across the U.S. represented by SACC-USA. Visit www.sacc-usa.org to learn more.


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