A sustainable ocean economy for 2050: Approximating its benefits and costs
Konar, M.; Ding, H. (2020). A sustainable ocean economy for 2050: Approximating its benefits and costs. High Level Panel for a Sustainable Ocean Economy/World Resources Institute: Washington, DC. 57 pp.
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| Abstract |
The ocean and its resources provide key ecosystem services and benefits that are crucial for human wellbeing and the prosperity of the global economy, but these services are at risk. The ocean’s wide range of ecosystem services (including food, energy, recreational/cultural services and trading/transport routes) is vital for the well-being of society. However, climate change, overfishing, pollution and a loss of biodiversity and coastal ecosystems are eroding the ability of the ocean to sustain livelihoods and prosperity. Taking action to protect these ocean-based ecosystems and ensuring the environmental sustainability of ocean-based activities will produce health, environmental and ecological, and economic and social benefits to people and the planet. A key question for policymakers and funding agencies is how these benefits compare with the costs. This analysis aims to answer the question by building on several existing analyses and reports, including The Ocean as a Solution to Climate Change: Five Opportunities for Action (Hoegh-Guldberg et al. 2019) and The Global Consultation Report of the Food and Land Use Coalition (FOLU 2019). Using both quantitative and qualitative methods, it demonstrates that ocean-based investments yield benefits to society in the long term, and these benefits substantially outweigh the costs. |
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