Economic valuation of species loss in the open sea

Ressurreição, Adriana; Gibbons, James; Dentinho, Tomaz Ponce; Kaiser, Michel J.; Santos, Ricardo S.; Edwards‐Jones, Gareth

doi:10.1016/j.ecolecon.2010.11.009

Cited by 90 publications

(53 citation statements)

References 53 publications

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“…However, moral concerns for unsustainable deep-sea exploitation that ignores species protection were high. High WTP for protecting deep-sea areas in our study echoes the high WTP for species protection demonstrated by Ressurreição et al (2011) for the Azores archipelago (Portugal), and Portuguese respondents had shown equally low priority for ocean health as the UK (Potts et al, 2011). Potts and colleagues also demonstrated a positive relationship between support for MPAs and the amount of fish consumed on an international level.…”

Section: Wtp For Deep-sea Protectionmentioning

confidence: 62%

“…the total number of species) is a simple concept to assess and understand. Species richness has been successfully used by other stated preferences surveys (Ressurreição et al 2011). From an ecological perspective, species richness is thought to be a good index when impacts and the ecosystem response have to be assessed (Olsgard, 1993).…”

Section: Developing the Choice Attributesmentioning

confidence: 99%

“…The deep-sea environment remains remote to the majority of people (Ramirez-Llodra et al, 2011). Most members of the general public also poorly understand complex ecological concepts such as biodiversity (Christie et al, 2006;Ressurreição et al, 2011;Spash & Hanley, 1995;Turpie, 2003).…”

Section: Main Challenges To Valuing Deep-sea Ecosystem Servicesmentioning

confidence: 99%

“…A second case study, which included parts of the deep-sea in addition to shallower waters, focused on valuing species loss around the Azores archipelago (Ressurreição et al, 2011). A contingent valuation survey was undertaken which discussed the protection of a wide range of species, compared to the single species approach in the Irish CWC study.…”

Section: Previous Studies Valuing Deep-sea Biodiversity and Ecosystemmentioning

confidence: 99%

See 3 more Smart Citations

Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

Jobstvogt

Hanley

Hynes

et al. 2014

Ecological Economics

141

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The deep-sea includes over 90% of the world oceans and is thought to be one of the most diverse ecosystems in the World. It supplies society with valuable ecosystem services, including the provision of food, the regeneration of nutrients and the sequestration of carbon. Technological advancements in the second half of the 20th century made large-scale exploitation of mineral-, hydrocarbon-and fish resources possible. These economic activities, combined with climate change impacts, constitute a considerable threat to deep-sea biodiversity. Many governments, including that of the UK, have therefore decided to implement additional protected areas in their waters of national jurisdiction. To support the decision process and to improve our understanding for the acceptance of marine conservation plans across the general public, a choice experiment survey asked Scottish households for their willingness-to-pay for additional marine protected areas in the Scottish deep-sea. This study is one of the first to use valuation methodologies to investigate public preferences for the protection of deep-sea ecosystems. The experiment focused on the elicitation of economic values for two aspects of biodiversity: (i) the existence value for deep-sea species and (ii) the option-use value of deep-sea organisms as a source for future medicinal products. Acknowledgments:We thank Mirko Moro, Dugald Tinch and Neil Odam for their invaluable input on survey and experimental design. Funding for this project was provided by MASTS (Marine Alliance for Science and Technology Scotland).

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Section: Wtp For Deep-sea Protectionmentioning

confidence: 62%

Section: Developing the Choice Attributesmentioning

confidence: 99%

Section: Main Challenges To Valuing Deep-sea Ecosystem Servicesmentioning

confidence: 99%

Section: Previous Studies Valuing Deep-sea Biodiversity and Ecosystemmentioning

confidence: 99%

See 2 more Smart Citations

Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

Jobstvogt

Hanley

Hynes

et al. 2014

Ecological Economics

141

View full text Add to dashboard Cite

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“…We did not attempt to estimate monetary values for biodiversity, as this is a complex and sometimes controversial undertaking (Beaumont et al, 2008) and we did not have the data to support such a task (nor did we wish to rely on estimates from other regions). Future studies could employ contingent valuation methods to investigate the value of biodiversity changes (e.g., multiple species losses) in the ETP (Richardson and Loomis, 2009;Ressurreição et al, 2011).…”

Section: Limitations and Future Directionsmentioning

confidence: 99%

An Ecosystem Services Perspective for the Oceanic Eastern Tropical Pacific: Commercial Fisheries, Carbon Storage, Recreational Fishing, and Biodiversity

2016

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The ocean provides ecosystem services (ES) that support humanity. Traditional single-issue management largely failed to protect the full suite of ES. Ecosystem-based management (EBM) promotes resilient social-ecological systems that provide ES. To implement EBM, an ES approach is useful: (1) characterize major ES provided (magnitude, geographic extent, monetary value, trends, and stakeholders), (2) identify trade-offs, (3) determine desired outcomes, and (4) manage anthropogenic activities accordingly. Here we apply the ES approach (steps 1-2) to an open ocean ecosystem, the eastern tropical Pacific (ETP), an area of 21 million km 2 that includes waters of 12 nations and the oceanic commons, using 35 years of fisheries and economic data, and 20 years of ship-based survey data. We examined commercial fisheries, carbon storage, recreational fishing, and biodiversity as the major provisioning, regulating, cultural, and supporting ES, respectively. Average catch value (using U.S. import prices for fish) for the 10 most commercially fished species was $2.7 billion yr −1 . The value of carbon export to the deep ocean was $12.9 billion yr −1 (using average European carbon market prices). For two fisheries-depleted dolphin populations, the potential value of rebuilding carbon stores was $1.6 million (cumulative); for exploited fish stocks it was also $1.6 million (an estimated reduction of 544,000 mt). Sport fishing expenditures totaled $1.2 billion yr −1 , from studies of three popular destinations. These initial, conservative estimates do not represent a complete summary of ETP ES values. We produced species richness maps for cetaceans, seabirds, and ichthyoplankton, and a sightings density map for marine turtles. Over 1/3 of cetacean, seabird, and marine turtle species occur in the ETP, and diversity (or density) hotspots are widespread. This study fills several gaps in the assessment of marine and coastal ES by focusing on an oceanic habitat, utilizing long-term datasets, mapping the spatial distribution of ecological components, and concentrating on an area beyond Europe and the USA.Martin et al. Oceanic Ecosystem ServicesOur results improve our understanding of ETP ES, highlight their variety, and offer a new perspective for a fisheries-dominated system. This study sets the stage for further analyses of trade-offs, which can inform decisions about resource management and biodiversity conservation.

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Towards an Ecosystem Approach to Environmental Impact Assessment for Deep-Sea Mining

Thornborough

Juniper

Smith³

et al. 2019

Environmental Issues of Deep-Sea Mining

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Economic valuation of species loss in the open sea

Cited by 90 publications

References 53 publications

Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

Twenty thousand sterling under the sea: Estimating the value of protecting deep-sea biodiversity

An Ecosystem Services Perspective for the Oceanic Eastern Tropical Pacific: Commercial Fisheries, Carbon Storage, Recreational Fishing, and Biodiversity

Towards an Ecosystem Approach to Environmental Impact Assessment for Deep-Sea Mining

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