Business
Our oceans worth $24 trillion: WWF
Sydney, April 24
Ocean assets such as
fisheries, shipping lanes and tourism are worth $24 trillion and produce
an annual value of $2.5 trillion from their outputs, says a latest
report by the conservation group World Wide Fund (WWF).
The
report titled "Reviving the Ocean Economy" attempts to estimate the
value of the oceans and proposes steps for its safeguarding.
"If
the oceans were a country it would be the seventh-largest economy on the
planet. I do not think that is surprising to any marine scientist but
it may come as a surprise to a lot of people outside marine science,"
said marine scientist and lead author Ove Hoegh-Guldberg, director of
the University of Queensland's Global Change Institute in St Lucia.
"Being a natural scientist, I am suspicious of economists."
"But
when you look at different numbers, this is not too far off what other
people have found in terms of components of the total value,"
Hoegh-Guldberg noted.
The report looks at the oceans as one system which has not been the case in previous efforts.
"In
the past, we have missed that opportunity to look at the interactions
between local and global factors, between fishing and ocean chemistry
and so on," he added.
The report comes up with a very large
number despite the fact that we can not value the many intangibles such
as the production of sand along coastlines, the value of oceans in terms
of their contribution to cultures, and so on.
"We do not make
any apologies for the fact that we cannot get the real value. But we can
get a number which we know is the minimum, and in this case it is a
very large number," he continued.
The eight proposed actions in
the report include committing to ocean targets in the UN sustainable
development goals, agreement on avoiding damage from climate change and a
new alliance of maritime states.
"The eight actions are
achievable. We have already had a big push at the international level to
establish sustainable development goals focused on the ocean," the
authors emphasised.