Answer: 

Marine resources refers to the physical and biological resources of oceans and seas. Oceans cover around 70% of the earth’s surface. With rising population and depletion of terrestrial resources, effective utilisation of marine resources can provide a viable alternative to increase the resource base.

• Food Security: Marine resources like fish and seafood, are important sources of nutrition for many coastal communities. Effective utilization of these resources through sustainable fishing practices can help address food insecurity, providing a stable and nutritious food source, and reducing hunger and malnutrition.
• Economic Development: Industries such as commercial fishing, aquaculture, tourism rely on the effective utilization of marine resources, providing employment opportunities and income for coastal communities. This can alleviate poverty, improve livelihoods, and uplift the socio-economic conditions of individuals and communities.
• Health and Medicine: Marine organisms have been a rich source of bioactive compounds with potential medicinal applications. The effective exploration and utilization of marine resources can lead to the discovery of new drugs, treatments, and therapeutic compounds, addressing health challenges and reducing human suffering caused by diseases.
• Renewable Energy: Marine resources offer significant potential for renewable energy generation, such as offshore wind, tidal, and wave energy. By effectively harnessing these resources, we can reduce dependence on fossil fuels, mitigate climate change impacts, and contribute to clean and sustainable energy systems, improving access to energy and reducing environmental degradation.
• Climate Change Resilience: Marine ecosystems, such as coral reefs and mangroves, provide coastal protection from storms, erosion, and sea-level rise. Effectively managing and conserving these ecosystems can enhance coastal resilience, reduce the impacts of climate change on vulnerable communities, and help prevent the displacement and suffering of populations due to extreme weather events.

• Overexploitation: Unsustainable fishing practices can deplete fish stocks, harm marine ecosystems, and undermine long-term resource availability.
• For example, as per FAO, more than a third of the fish stocks around the world are being overfished.
• Lack of Information: The oceans remain unexplored mainly due to its vast size and lack of international cooperation.
• For example, according to UNEP, more than 80% of oceans are unexplored.
• Threat to ecosystem: Development projects, like building ports, may threaten critical hotspots like coral reefs and mangroves.
• Technological Development: Exploitation of marine resources from deep sea levels require
• For example, deep sea mining at present technological levels is not economically viable.
• Tensions between Nations: Exploitation of marine resources can fuel tensions between nations and threaten global peace and security.
• For example, South China sea dispute between China and neighbouring countries like Philippines, Indonesia etc.

Marine resources can play a major role in reducing human miseries and achievement of SDG 1,2,3 and 7. However, these resources should be sustainably used. Further, there should be a globally accepted framework to distribute marine resources in the high seas.