Why now is the time to invest in the future of the Black Sea

Lord McConnell, Chancellor, University of Stirling and Chair, Black Sea Special Interest Group

University of Stirling Chancellor and former First Minister, Lord McConnell, discusses the significance of the Black Sea Special Interest Group, an innovation and engagement venture co-ordinated by the University of Stirling.

The devastating war in Ukraine has focused global attention on the Black Sea region, bringing this distinct part of the world into the spotlight. Lives and livelihoods have been shattered not only in Ukraine; the conflict’s impact is felt in the neighbouring countries and communities around the Black Sea coast.

International efforts rightly focus on bringing about peace and alleviating suffering in Ukraine, while planning to support the nation’s recovery is underway. This is an opportunity to consider the wider economic potential of the region, and how novel technologies and innovations can transform the fortunes of communities around the Black Sea, from Bulgaria, Romania, and Moldova to Ukraine, Georgia, and Turkey.

It’s critical that we get this right. Three decades ago, the Black Sea was facing ecological collapse, a legacy of overfishing and pollution. Its fragile recovery is now threatened by climate change and the shocks to its ecosystem from war, such as the destruction of Ukraine’s Kakhovka dam. Harnessed sensitively and responsibly, the Black Sea can be a source of enduring prosperity for its coastal communities, reaping the benefits of emerging opportunities.

That’s why I am pleased to chair the DOORS Black Sea Special Interest Group, an international team of statespeople, scientists and entrepreneurs working to develop and champion prospects for investment across this region. Launched today, International Black Sea Action Day, the Group is utilising the latest academic research from a consortium of higher education institutions throughout the region and elsewhere, including the University of Stirling where I am Chancellor, to catalyse sustainable development opportunities for the 16 million people who inhabit the Black Sea coast.

On a recent visit to businesses in the region, I saw first-hand the ingenuity of its entrepreneurs who are working creatively and collaboratively to capitalise on its significant potential. Prospects for development include renewables and aquaculture, supporting prosperity, food security and energy security. Sustainable tourism can bring curious yet responsible visitors, travelling to enjoy the region’s nature, culture and rich history, from Jason and the Argonauts to Florence Nightingale.  

It’s clear that this remarkable region has the potential not just to recover, but to flourish. We know what that prosperity can look like, but we need companies and governments across the world to take notice of this immense potential and to appreciate the returns that investment can offer – not just for businesses and investors, but for real people in real places.

Investment on and around the Black Sea can pay dividends across many areas, supporting a region that’s greener, safer, peaceful and more secure. If we can seize these prospects, the region and its people can place their hopes in a future no longer characterised by destruction and hardship, but by partnership and prosperity. It’s time to work together to make that vision a reality.  

For more information about the Special Interest Group, visit: DOORS Black Sea – Black Sea Special Interest Group

Theme by the University of Stirling