A NOVEL APPROACH TO WASTE LOAD MANAGEMENT AND ENVIRONMENTAL COMPLIANCE FOR MARINE POLLUTION BASED ON ECONOMETRIC MODELING

The current trend in global waste generation including unregulated production and consumption patterns, along with inadequate waste management practices and weak regulatory compliance have resulted in an unprecedented rise in pollution. Marine ecosystems are one of the most vulnerable due to their delicate interconnections, and their degradation will not only be destructive for the diverse flora and fauna, but also for humans as they are greatly reliant on oceans for sustenance. Globally, coastal urban cities deemed culprit of beach and ocean pollution due to their waste load and proximity to oceans. In that context, there is a deficit of apposite researches, which provide a framework to assess such pollution, while considering the economic factor. To fill the research gap, this paper presents a novel model for pollution load evaluation on beaches and sea, along with an econometric model to calculate the beach rehabilitation and pollution prevention costs. The proposed modeling is based on multivariate Seemingly Unrelated Regression (SUR) model and can be used for informed decision making to ensure regulated coastal urban management for pollution-free, thriving marine ecosystems that are fit to sustain life under water, and contribute to blue economy and sustainable development.