Tag Archives: marine biodiversity

Natural Capital and Human Well-Being

What is the contribution of nature to the economy?… The breathable air, drinkable water and tolerable temperatures that allow humans to do everything they do, and the complex ecosystems that maintain them, tend to be taken for granted. Professor Dasgupta’s review on the Economics of Biodiversity does not seek to play on the heartstrings with tales of starving polar bears. Rather, it makes the hard-headed case that services provided by nature are an indispensable input to economic activity. Some of these services are relatively easy to discern: fish stocks, say, in the open ocean. Others are far less visible: such as the complex ecosystems within soil that recycle nutrients, purify water and absorb atmospheric carbon. These are unfamiliar topics for economists, so the review seeks to provide a “grammar” through which they can be analysed.

The report features its own illustrative production function, which includes nature. The environment appears once as a source of flows of extractable resources (like fish or timber). But it also shows up more broadly as a stock of “natural” capital. The inclusion of natural capital enables an analysis of the sustainability of current rates of economic growth. As people produce GDP, they extract resources from nature and dump waste back into it. If this extraction and dumping exceeds nature’s capacity to repair itself, the stock of natural capital shrinks and with it the flow of valuable environmental services. Between 1992 and 2014, according to a report published by the UN, the value of produced capital (such as machines and buildings) roughly doubled and that of human capital (workers and their skills) rose by 13%, while the estimated value of natural capital declined by nearly 40%. The demands humans currently place on nature, in terms of resource extraction and the dumping of harmful waste, are roughly equivalent to the sustainable output of 1.6 Earths (of which, alas, there is only the one)…Indeed, Professor Dasgupta argues that economists should acknowledge that there are in fact limits to growth. As the efficiency with which we make use of Earth’s finite bounty is bounded (by the laws of physics), there is necessarily some maximum sustainable level of GDP…

Professor Dasgupta hints at this problem by appealing to the “sacredness” of nature, in addition to his mathematical models and analytical arguments.

Excerpts from How should economists think about biodiversity?, Economist, Feb. 6, 2021

Biodiversity in the Lawless Seas

The United Nations General Assembly adopted a resolution on May 2015 (reissued on June 2015) aimed at drafting a legally binding international treaty for the conservation of marine biodiversity and to govern the mostly lawless high seas beyond national jurisdiction.The resolution was the result of more than nine years of negotiations by an Ad Hoc Informal Working Group, which first met in 2006.

If and when the treaty is adopted, it will be the first global treaty to include conservation measures such as marine protected areas and reserves, environmental impact assessments, access to marine genetic resources and benefit sharing, capacity building and the transfer of marine technology.

The High Seas Alliance (HSA), a coalition of some 27 non-governmental organisations (NGOs), played a significant role in pushing for negotiations on the proposed treaty and has been campaigning for this resolution since 2011…The General Assembly will decide by September of 2018 on the convening of an intergovernmental conference to finalise the text of the agreement and set a start date for the conference….

A new treaty would help to organise and coordinate conservation and management [in the high seas].  That includes the ability to create fully protected marine reserves that are closed off to harmful activities. Right now there is no way to arrange for such legally binding protections, she added….In a statement released Friday, the HSA said the resolution follows the Rio+20 conference in 2012 where Heads of State committed to address high seas protection.The conference came close to agreeing to a new treaty then, but was prevented from doing so by a few governments which have remained in opposition to a Treaty ever since.

The U.N. Convention on the Law of the Sea (UNCLOS), which is recognised as the “constitution” for global ocean governance, has a broad scope and does not contain the detailed provisions necessary to address specific activities, nor does it establish a management mechanism and rules for biodiversity protection in the high seas.  Since the adoption of UNCLOS in 1982, there have been two subsequent implementing agreements to address gaps and other areas that were not sufficiently covered under UNCLOS, one related to seabed mining and the other related to straddling and highly migratory fish stocks, she added. This new agreement will be the third implementing agreement developed under UNCLOS….

The “high seas” is the ocean beyond any country’s exclusive economic zone (EEZ) ‑ amounting to 64 percent of the ocean…

Excerpts from Thalif Deen, U.N. Takes First Step Towards Treaty to Curb Lawlessness in High Seas, IPS, June 19 2015