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Valuing the European 'coastal blue carbon' storage benefit
T Luisetti1, E L Jackson, R K Turner
1Centre for Social and Economic Research on the Global Environment (CSERGE), School of Environmental Sciences, University of East Anglia, Norwich Research Park, Norwich, Norfolk NR4 7TJ, UK. tiziana.luisetti@cefas.co.uk
Marine Pollution Bulletin
|April 30, 2013
Summary
Protecting coastal blue carbon ecosystems is vital for carbon storage. Current EU policies safeguard these assets, but policy reversals could lead to significant economic losses by 2060.
Area of Science:
- Marine Biology
- Environmental Economics
- Climate Change Mitigation
Background:
- Blue carbon ecosystems (coastal and marine habitats) sequester significant atmospheric carbon.
- These ecosystems are not currently protected by international climate mechanisms like REDD (Reducing Emissions from Deforestation and Degradation).
- Valuation of ecosystem services from blue carbon is crucial for policy and conservation debates.
Purpose of the Study:
- To raise political awareness regarding the importance of blue carbon.
- To provide methods for valuing the stock and flows of ecosystem services from blue carbon.
- To assess the impact of changes in European coastal blue carbon stocks on human welfare.
Main Methods:
- Scenario analysis was employed to model potential future changes.
- Economic valuation techniques were used to quantify the stock and flow of ecosystem services.
- Analysis focused on European coastal blue carbon ecosystems.
Main Results:
- The current stock of European coastal blue carbon is valued at approximately US$180 million.
- Effective implementation of EU Environmental Protection Directives is projected to increase the value of this asset.
- A policy reversal leading to ecosystem loss could result in economic value losses up to US$1 billion by 2060.
Conclusions:
- Coastal blue carbon ecosystems represent a significant, appreciating asset when protected.
- Policy decisions regarding environmental protection directly impact the economic value and human welfare derived from these ecosystems.
- There is a substantial economic risk associated with the degradation of blue carbon habitats.
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