Coastal and freshwater #wetlands provide many services to people and nature 🦆 💦 🌳 🦋 . But....How much are these services worth 💰? Our first-pass assessment in Western Australia, suggests coastal blue carbon sites in the Pilbara region can provide each year over AU$1.1 billion ecosystem services, including coastal protection and carbon and nitrogen storage. Freshwater teal carbon sites in Perth, such as the Beeliar Regional Park, can provide over AU$37 million. While more data is needed to accurately value nature using tools like environmental-economic accounting (EEA), preliminary results already highlight the importance of wetlands for communities in WA. This research was funded by Conservation Volunteers Australia, with the resulting Report and StoryMap open to everyone. More: https://bit.ly/47V1gKH StoryMap: https://bit.ly/47XZmsR
Ingrid Burkett - this aligns with design foundations of systems capital apporach. Please do take a look at it. Work from a pioneer fellow Aussie. Emma Carmody PhD - work to be leveraged. Howard Dryden Muhammad Ali Bin Shahid Steve Boniwell
Mónica A. Altamirano de Jong, PhD - forgot to tag you earlier. BlueCarbonLab folks and Peter Macreadie may start thinking why i am commenting 4 times. Sharing it as this is first piece of work of a certain essential requirement in contemporary times.
Indy Johar - an interesting study here. Graham Boyd Karel J. Golta - to be seen for new product & services design - for new ways to live.
If these estimates of ecosystem service values are correct then the annual societal investment in maintaining the functions is woefully low (my guess at <5% service value).
Everyone should look into this body of work. Adam Hejnowicz Alpha Lo Ivo Mulder John Fullerton nisha mary poulose (for indian coastal region - western belt, part of your bioregion plans) Bipasha Chatterjee Sridhar Narayan Ajay Nair
Thanks Peter Macreadie - Quite a work and wanted to engage with for a similar work when we exchanged DMs. Bill Baue - accounting framework considered in the study is point of interest also.
Love it guys, what should people do to enhance these systems?
Professor at RMIT University & Founder/Director of the Blue Carbon Lab
9moI'd rather not have to rely on philanthropy and government investment for finance to protect and restore nature. Rather, I would like to see market-based mechanisms that incentivises the private sector to restore and conserve nature. I appreciate that my next comment will annoy some people, but I'd love to see a situation where conservation and protection of nature becomes a highly profitable business. Such a scenario would encourage businesses that might have historically taken taken from nature, to instead flip their business to put back into nature. The point of this exercise was the try and capture the economic value of wetlands, which have been destroyed at scale throughout the world. i.e. is there a business case for conservation and restoration of wetlands? Based on our findings, I would say 'yes, there is a strong economic argument for conserving and restoring wetlands'. However, our challenge is now to create the market-based mechanisms to do so, which must also be accompanied by good policies to ensure equitable sharing of benefits.