Page 50 - Livre_MOW2022_EN

48 | SOLUTIONS FOR THE OCEAN / NATURE-BASED SOLUTIONS

ACCOUNTING

IMBALANCE

Moderated by Nathalie Hilmi, Head of the “En-
vironmental Economy” section at the Monaco
Scientific Centre, the second panel discussed
the economic and financial role of marine pro-
tected areas and marine sanctuaries. To what
extent can Nature-based Solutions become an
investment which is beneficial to society?

Whales, seagrass, mangroves… What financial
tools are available to reinforce the role of blue
carbon sinks in carbon sequestration? What
value should be given to blue carbon? “The
markets are not taking it seriously because Patricia Morales, Managing Director of the “When a marine protected
there is no identifiable owner or manager. In Chilean Foundation Filantropía Cortés Solari, area is created, we make
order for them to take it into consideration, we pointed out the advantages of blue carbon, a cultural choice to protect
need a legal framework which will give nature with the ocean sequestrating more carbon an environment and the
rights”, said Ralph Chami, economist at Blue than the forest or earth, whilst highlighting an ecosystems contained within.”
Green Future, mentioning the pioneers in this “accounting imbalance” to the detriment of the Paolo Guidetti, marine
field, namely Chile, New Zealand and the Czech ocean: “We need to make rational decisions
Republic. after scientifically assessing the services rende- ecologist at the Anton Dohrn
red by marine ecosystems”, she put forward, Zoological Station (Italy)
Questioning the limitations of a natural capital praising science-backed strategies. A point of
approach, Ekkehard Ernst, Chief Macroecono- view endorsed by the seminar’s conclusions.
mist at the International Labour Organisation,
insisted on the need for an assessment mecha-
nism for this capital which takes into account
environmental concerns and priority areas, par-
ticularly for developing countries.
IN
FIGURES

■ 1 trillion dollars: the value of carbon
sequestration ecosystem services provided
by seagrass worldwide,
■ 2 million dollars: the value of carbon
sequestration ecosystem services provided
by a whale.

(sources: N. Hilmi, R. Chami et al., “The Role
of Blue Carbon in Climate Change Mitigation
and Carbon Stock Conservation”, Frontiers in
Climate, septembre 2021).