Analytics, Ecology, EU – Baltic States, Labour-market, Latvia

Pauli mentioned yeast as an example, explaining that the global yeast market was worth around EUR 10 billion, and that Latvia would probably like to have a share of the market. However, more than 90% of yeast available in the world at the moment is genetically modified, and there are just 15 types of yeast distributed by couple companies. One does not have to be a marketing expert to see that people will prefer organic yeast from Latvia's forests, and that could create some 25,000 jobs in Latvia. However, it would require biologists and scientists, and investing in science, said Pauli.

Pauli also said that Latvia could produce gas using a variety of chemical minerals in the sea for growing seaweed. Latvia has 28,000 square kilometers of sea where it could grow seaweed, and, according to Pauli's estimates, growing seaweed in an area of just 400 square kilometers would be enough to supply the entire country with gas.

Pauli then mentioned fisheries - if fishermen stopped catching grown fish and would catch young fish instead, they could actually earn more as the grown fish would produce more eggs.

These initiatives are in line with Pauli's Blue Economy theory that, unlike green economy and circular economy, denies that countries have to try to produce and sell more, and instead suggests that countries should become self-sufficient by selling unique products that only they produce.

When asked about the government's role, Pauli replied it should be as small as possible - the government should do as little as possible to regulate different businesses, and instead encourage residents to use all natural resources available to them.