October 2024 | The Water Column
environment coastal & offshore (eco) magazine
amplifying applied marine science
By Haley McQueen, editor, eco magazine
September featured an influx of news as the summer draws to a close and we embark on Q4 2024. From budget and regulation announcements to new product launches, the ocean industry continues to drive the gears of progress.
A Fly on the Wall
Centered in the ocean town of Halifax, Nova Scotia, global ocean leaders, technologists, and researchers convened at OCEANS 2024 with the common goal of pushing the needle on ocean technology and solutions.
Accelerating and supporting ocean tech innovation was the common thread connecting plenaries, keynote, paper sessions, and panel discussions. Three plenary panels brought a diverse group of leaders to the stage to share their insights into how the public sector, industry, and research are contributing to and facilitating the acceleration of new technology integration among Blue Economy stakeholders.
The editorial team at environment coastal & offshore has been keenly following the developments surrounding marine carbon storage and removal (mCDR) and so was drawn to a panel discussion featuring policy experts dedicated to the interplay between R&D and regulatory requirements for ocean-based carbon dioxide removal. Developments related to the Paris Agreement, the London Convention and Protocol, the Biodiversity Beyond National Jurisdiction (BBNJ), and more were all featured present in the discussion. All contributors agreed that while marine carbon dioxide storage and removal technologies, research, and scalable solutions are advancing, policies and regulations are stalling meaningful progress. In short, regulators currently lack the right tools for the job. Moreover, the absence of any established legal framework means that many stakeholders and practitioners are hesitant to increase investment levels and resources to further the cause. The industry, it seems, is waiting for an offshore developer to step up and lead the way.
Investments & Regulations of Note
September brought a series of regulation and investment announcements for the ocean industry, influencing:
Ocean Observing
The US Department of Commerce and the National Oceanic and Atmospheric Administration (NOAA) announced $101.5 million in funding across 12 awards to expand equitable service delivery and support the modernization of the US Integrated Ocean Observing System (IOOS) Regional Associations as well as $6.7 million in funding across three NOAA Research laboratories to replenish and expand observing system assets both the ocean and the Great Lakes.
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Ocean Resource Protections
A Supply Chain Responds
With investments in ocean observation growing, marine instrument manufacturers are making changes and introducing new products to feed market needs. A few of those announcements were featured in September, with a new ADCP introduced to market by Teledyne RD Instruments, a new distribution agreement with Sea-Bird Scientific and TERAMARA, and MacArtney Asia was confirmed as a reseller for Teledyne RD Instruments ADCP and DVL products.
Offshore Wind Growing Pains
Diversifying the offshore energy mix has long proven a complex endeavor and, as with most complicated undertakings in the ocean sector, has its ups and downs.
On the up, the Australian Government declared an area in the Indian Ocean off Bunbury, Western Australia (WA) between Cape Naturaliste and Dawesville where offshore renewable energy could be developed. While offshore wind projects can’t be built yet, this announcement sets the pace for consultations, investigations, environmental assessments, and approvals to pave the way for sustained regional investments into offshore renewable energy.
On the down, the Bureau of Ocean Energy Management (BOEM) postponed the offshore wind energy auction for offshore Oregon, US, due to insufficient bidder interest. Of the five companies qualified for the auction, only one expressed interest in bidding on the two lease areas. This postponement follows the cancelation of the Gulf of Mexico wind lease auction, as announced by BOEM in July.
Spaces we’re watching: marine instruments, mCDR, budget decisions
You’ll find news and insights on all the above in the “Water Column”— exclusive editorial dedicated to giving our readers an alternate, bird’s eye view of the most significant happenings across the marine science, industry, and policy space. To keep abreast of all the latest developments, access Water Column in print editions of eco magazine, nestled among the pages of Environmental Policy news, and in a monthly circulating digital edition found on LinkedIn and our website.