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Seaconomics - The Economic Perspective of Marine Biodiversity
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Seaconomics - The Economic Perspective of Marine Biodiversity


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Effects of Marine Renewables and other marine uses on Biodiversity – Atlantic Area
20th November, 2012

The importance of ecological economics, sustainable management of ecosystems services and biodiversity valuation and risk management

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  • 1. Theeconomicperspectiveof marinebiodiversityNuno Gaspar de OliveiraCIGEST | Environment & Sustainability, ISG | Business & EconomicsSchoolINTERNATIONAL WORKSHOPEffects of Marine Renewables and other marineuses on Biodiversity – Atlantic Area20th November, 2012
  • 2. The economic perspective of marine biodiversityCIGEST Environment and Sustainability | ISG Business & Economics School• developing cross-sectorial projects that promote applied sustainability• projects and programs and to provide training, skills and knowledge in the multiplefields of sustainability• developing an offer of international short term academies and post-graduationcourses in areas where sustainability is gaining relevance, such as the sea economyor post-GDP accounting systems.Nuno Gaspar de Oliveira• Biologist, specialized in applied ecology, works since 1998 on the theme ofbiodiversity, ecosystems and sustainable management, primarily in the areas ofagriculture, forestry and protected areas.• Researcher in CIGEST, ISG Business & Economics School R&D Centre, coordinatorand project planner/manager of the area of Environment & Sustainability,• Lectures Economy of Energy and Natural Resources.• PhD student at the Faculty of Social and Human Sciences (UNL) in the area ofGeography, Territorial Planning and Biodiversity.
  • 3. The economic perspective of marine biodiversity
  • 4. The economic perspective of marine biodiversity
  • 5. The economic perspective of marine biodiversityFigura 2. Vulnerabilidade ambiental das populações (UNEP et al., 2012b)
  • 6. The economic perspective of marine biodiversity
  • 7. The economic perspective of marine biodiversity
  • 8. The economic perspective of marine biodiversityFigura 4. Evolução da produção de petróleo offshore(
  • 9. The economic perspective of marine biodiversityFigura 6. Impacte económico do desastre petrolífero da BP noGolfo do México para as populações do Sul do Mississipi, EUA( 5. Manifestações ao desastre petrolíferoda BP em 2010 (
  • 10. The economic perspective of marine biodiversity$3.5 billion: The daily gross metropolitanproduct of New York City.>1,000 miles (1609.344 km): Sandysdiameter.$2.7 Trillion: The insured value of coastalproperties in New YorkFig. 3: Estimated Value OfInsured Coastal PropertiesVulnerable To Hurricanes ByState, 2012
  • 11. The economic perspective of marine biodiversity2 November 2012 | When New York Mayor Michael Bloomberg endorsed Barrack Obama’s reelection bid on Thursday, hedid more than just embrace the scientific consensus on climate change. He also demonstrated an awareness of the factthat our entire economy is embedded in – and dependent on – nature.Locally, the awareness has been manifest in a debate over whether or not to build sea gates off the New York shore, but itreally goes much deeper than that. In the weeks and months ahead, we can expect to hear more about the need to revivethe planets once reliable “green infrastructure” – and, in New Yorks case, that means replenishing the saltmarshes that once acted as natural surge protectors, restoring the wetlands that once provided waterfiltration and flood control, and righting the rivers and streams that once dealt so effectively withstormwater runoff.New York City has already taken steps in this direction. Over the past two years, it launched both an ambitious “greeninfrastructure” plan aimed at rivers and streams, and a wetlands strategy aimed at salt marshes and wetlands.Such natural elements are often better at protecting the coast because they dont muscle storm surges but ratherabsorb them. They also tend to be cheaper to build and maintain than are massive engineering works, and theyre almostalways prettier to look at. Done right, they can even pay for themselves over time.
  • 12. The economic perspective of marine biodiversity
  • 13. The economic perspective of marine biodiversityThe value of wetland ecosystem services in Louisiana has been estimated at $8,437 to $15,763 peracre (Farber, 1996).Great Lakes Region: Estimating Non-Market Values of Coastal MarshesSaginaw Bay of Lake Huron, Michigan, is rich in resources that supportagriculture, tourism, manufacturing, outdoor recreation and habitat for a wide variety of wildlife.Each year Saginaw Bay wetlands provide $16 million of non-market benefits to recreationalusers, yielding a total value of $239 million (NOAA CSC, 2009).Gulf of Mexico Region: The Value of a Coastal WetlandThe Barataria-Terrebonne estuarine system of wetlands is a valuable source of oil andgas, fishing, hunting, and wildlife viewing. Economic benefits accruing from recreational activitiesranged from $327 million to $1 billion. The commercial economy was about $3.5 billion (of whichabout $2.3 million was from oil and gas production). Other wetland services on an annual per-acrebasis include protection from hurricane damage ($186), storm surges ($280 to $904), damage to thewater supply ($84 to $157), and property losses from inundation ($6,599 to $7,116) (NOAACSC, 2009).Pacific Northwest Region: Flood Protection in the Chehalis BasinIn the Chehalis River Basin, Washington, a valuation of 12 ecosystem services shows a range ofeconomic benefits between $1.3 and $11.6 billion in value to citizens every year (EarthEconomics, 2010).
  • 14. The economic perspective of marine biodiversity
  • 15. The economic perspective of marine biodiversity
  • 16. The economic perspective of marine biodiversityEnvironmental impacts of the selected Blue Growth economic activities. Grey areas indicate the potential impacts of the economic activitiesmentioned, white areas indicate that no impacts are expected.
  • 17. The economic perspective of marine biodiversity
  • 18. The economic perspective of marine biodiversityFramework for identifying revenue opportunities from coral reef beneficiaries, WorldFish Center| Economic Valuation and Policy Priorities for Sustainable Management of Coral Reefs
  • 19. The economic perspective of marine biodiversityThe loss of potential economic benefits in the global fishery, due to fish stock depletion and over-capacity, is estimated at US$ 50 billion per yearCumulative global loss of net benefits from inefficient global fisheries 1974-2007: US$ 2 trillionWorld Bank, FAO, 2008: “The Sunken Billions – The Economic Justification for Fisheries Reform”
  • 20. The economic perspective of marine biodiversity
  • 21. The economic perspective of marine biodiversityThe plan will see the numbers ofmarine reserves off the Australiancoast increased from 27 to 60.The fishing industry is set toreceive hundreds of millions ofdollars in compensation, reportssay.Some have also noted that oil and gasexploration continue to be allowednear some protectedareas, particularly off westernAustralia.The Australian ConservationFoundation said that although theplan didnt go as far as they wouldlike, it was a major achievement interms of ocean conservation.
  • 22. The economic perspective of marine biodiversityEcologically, financially and politically, thepresent model of overconsumption fundedby over-concentrated leverage isunsustainable. Indeed, to replicate theexisting unsustainable financial model inthe emerging markets may invite a biggerglobal crisis. Sustainable finance hinges onsustainable business and on a moreinclusive, greener, sustainable environment.Financial leaders need to address a worldwhere consumption and investment willfundamentally change.To arrive at a greener and moreinclusive, sustainable world, there will beprofound changes in lifestyles, with greenerproducts, supply chains and distributionchannels. Social networking is changingconsumer and investor feedback so thatindustry, including finance, will become morenetworked and more attuned todemographic and demand changes. Ascommunity leaders, finance should leadthat drive for a more inclusive, sustainablefuture.
  • 23. The economic perspective of marine biodiversitySeaconomicsEnvironmentalManagementFisheries andAquicultureOil & GasAlternativeEnergiesPolicy andDecisionmakersR&DLand/Sea UsePlanningMaritime Law& SecurityTourism
  • 24. The economic perspective of marine biodiversity
  • 25. Nuno Gaspar de Oliveira | Researcher ‘CIGEST | Ambiente e SustentabilidadeISG – Business & Economics School | | Telefone: 21 751 37 00 ext. 127Linkedin: ngoliveira | SKYPE: nuno.gaspar.oliveira | Facebook: CIGEST, NGOLIVEIRA