A new approach to funding marine conservation and restoration is being championed in the UK, with the belief that natural capital markets are the way to go. The country has launched a roadmap for establishing High Integrity Marine Natural Capital Markets, which would allow investors and corporations to fund projects that protect and enhance marine ecosystems. The goal is to provide a consistent flow of funding for marine nature protection while delivering various benefits such as carbon sequestration, clean water, and biodiversity.
Marine ecosystems play a crucial economic role, with the global ocean economy valued at $1.5 trillion per year and expected to double to $3 trillion by 2030. However, these ecosystems are under increasing threat from various pressures, including rising temperatures, pollution, and overfishing. The failure to understand the impact of these threats on marine value has led to a lack of action to protect these important ecosystems.
Despite the economic importance of marine and coastal ecosystems, the ocean is not specifically covered under international environmental treaties, leading to a lack of funding for conservation efforts. Only 1% of global climate finance is currently allocated to the ocean. To address this issue, the UK is working towards establishing high-integrity marine natural capital markets to unlock investment in the protection and restoration of marine ecosystems.
Properly managed marine science is crucial in underpinning any natural capital market for marine ecosystem services. Research programs such as the Ocean Seascape and Convex Seascape Survey are working to understand the ocean’s carbon sequestration potential and the impact of climate change on marine biodiversity. These efforts are providing valuable insights into the role of marine ecosystems in carbon storage and highlighting the need for further research to support natural capital markets.
The UK hopes that by focusing on natural capital markets, they can leverage private finance to support global climate and nature goals and create more resilient supply chains. The establishment of high-integrity marine natural capital markets could provide a pathway to funding marine conservation efforts, creating jobs, and bolstering food security in coastal communities. Collaborative efforts by diverse stakeholders will be essential to boosting investor confidence and demonstrating the practical value of marine nature protection projects.
In conclusion, the urgent need to understand and protect marine ecosystems is paramount to reaching global climate and sustainability goals. By establishing natural capital markets for marine ecosystem services, the UK aims to unlock investment in the protection and restoration of marine environments. Robust research is essential to underpin these markets and provide a deeper understanding of the ocean’s carbon sequestration potential, biodiversity, and ecosystem functions. Only through collaborative efforts and innovative financing mechanisms can we ensure the long-term health and resilience of our oceans.
