Geoscience Reference
In-Depth Information
Table 13.2
Subdivision of the total economic value of coral reefs as used to estimate the economic value of Hawaiian reefs by Cesar et al.
(2002). Direct-use values are the outputs and services that can be consumed directly, the functional benei ts are those enjoyed indirectly,
and the bequest, option, and existence values are those functions that value either the future use, expected new information, or are based
on moral convictions.
Total economic
value
Use values
Direct-use values
Extractive (capture i sheries, mariculture, aquarium trade, pharmaceutical).
Non-extractive (tourism, recreation, research, education, aesthetic)
Indirect-use values
Biological support to seabird, turtles, i sheries. Physical protection to other
coastal ecosystems, coastline, navigation. Global life-support in terms of
carbon storage.
Non-use values
Bequest, option and existence
values
Endangered and charismatic species. Threatened reef habitats, aesthetic
reefscapes, and 'way of life' linked to traditional use.
have an impact on the people who depend on or
enjoy these services, either through loss of low-
lying land, habitat, and infrastructure or through a
need for investment in shore protection. The
annual
economic damage of ocean-acidii cation-induced
coral reef loss by 2100 has been estimated to be
US$870 billion and US$500 billion for A1 and B2
SRES emission scenarios (IPCC 2001), representing
0.14 and 0.18%, respectively, of global GDP (Brander
et al.
2009). Obviously, these aggregate global num-
bers do not rel ect the distribution of the potential
serious economic impact across different regions,
especially those economically reliant on coral reefs.
ing in a 54% loss to investors around the world.
This disaster has tragically highlighted the impor-
tance of the more obvious marine goods and serv-
ices to society, although the full range, such as
non-use values, have not yet been included. As well
as loss of revenue from tourism and i sheries, prop-
erty prices fell and there were concerns about
impacts on the mental and physical health of coastal
residents. This tragedy clearly demonstrated that
the loss of form and function of the marine environ-
ment affects individuals directly and indirectly on
local to global scales.
With men and women in developed nations liv-
ing longer, it is increasingly frequent that four gen-
erations of the same family are alive at one time
(Fig. 13.3). This increased lifespan (on average 75
and 80 years for men and women, respectively)
means that climate change and ocean acidii cation
have the potential to affect many of those alive
today, their children, and their children's children,
and the younger of us may witness those effects on
our relatives and descendants. From the perspec-
tive of an individual's needs and lifespan, the slow
advance and invisible nature of ocean acidii cation
creates the illusion that this very urgent problem
can be tackled later.
However, ocean acidii cation is a global phenom-
enon, which if allowed to continue unabated will
result in severe changes in carbonate chemistry
occurring within the lifetime of children alive today
and which will impact upon important ecosystems
and the biodiversity they support such as the Arctic,
Antarctic, and tropical waters (Fig. 13.3).
13.4 The relevance of ocean
acidii cation to individuals
The Deepwater Horizon oil spill disaster, in the
highly productive and biologically diverse waters
of the Gulf of Mexico in April 2010, was the largest
offshore spill in US history and resulted in the loss
of 11 lives and injury to 17. It impacted livelihoods
through loss of goods and services provided by the
Gulf, such that it became a major global environ-
mental and political issue (
http://www.whitehouse.
gov/deepwater-bp-oil-spill/).
Although the leak
was staunched on 15 July, by September 2010 BP
reported that its own expenditure on the oil spill
had reached US$8 billion, including the cost of the
spill response, containment, relief well-drilling,
grants to the Gulf states, claims paid, and federal
costs. Between 20 April and 25 June BP suffered a
loss of US$105 billion to its total share value, result-
