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Counting the Cost of Ocean’s $24 Trillion Blue Economy

Posted by Green Builder Staff

Feb 26, 2017 3:11:17 PM

It's unfortunate, but it looks like we need economists to weigh in on the ocean's value to convince people to stop destroying it.5440095954_ee8000b16a_b.jpg

from today's FinancialTribune.com:

The ocean is essential to the livelihoods and food security of billions of people around the globe. Shipping, tourism, transport, fisheries, oil and gas, renewable energy all depend on the sea.

Two years ago, economists put a dollar value on what oceans are worth and came up with $24 trillion. If it were a country, the sea would be the seventh-largest economy on the planet, Aljazeera reported.

“When you look at the blue economy, it has an asset value of $24 trillion and that’s delivering something between $400-500 billion each year in terms of the dividend to humanity,” says Professor Ove Hoegh-Guldberg, director of the Global Change Institute.

“Marine resources are being degraded by human activity throughout the world—that comes down to things like pollution, plastics, degradation of coastal mangroves, climate change, etc.

“But even with the amount of degradation that’s going on, we’re still deriving great benefits. The real interesting issue is that if we can reverse the tide of degradation, then we should be able to build the $24 trillion asset. “


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