The natural resources that regulate all life on Earth, also known as natural capital, are central in the fight against climate change. Ocean-based natural assets, such as mangroves, seagrass—even whales—as well as land-based natural assets, such as soil, trees and elephants, function as carbon sinks and contribute significantly to biodiversity.
I recently spoke about the importance of ocean ecosystems at the Valuing Natural Capital Conference 2022 in Geneva, organised by Geneva Macro Labs. Read my summary blog on Economist Impact’s Sustainability Project.
Synopsis
• The natural resources that regulate all life on Earth, also known as natural capital, are central in the fight against climate change. The Valuing Natural Capital Conference focused on finding innovative governance and financial solutions to protect nature and its ecological services.
• Ocean-based natural capital including seagrass, mangrove forests, coral reefs, and seaweed hold incredible climate mitigation potential.
• Blue carbon markets are on the rise as global demand for carbon credits is set to increase 15-fold from 2020 levels, to be worth around US$50bn by 2030.
• The way forward: policymakers are starting to embrace the potential of blue carbon. That said, there is a need for blue carbon to be embedded within a holistic ecosystem management approach, including social and community dimensions.
Read the full summary blog here.