Scuba Dive

1 Spotted Drum, Value: $3.26 (pretty, but inedible)

In a capitalistic twist on an old topic, Cambridge University-based group The Economics of Ecosystems and Biodiversity (TEEB) quantified the benefits of conserving coral reefs, recently presenting their figures at the Diversitas conference in South Africa. They proposed that coral reefs are worth $172 billion dollars a year to the global economy, a number much higher than originally calculated by other economic environmental groups.

I envisioned researchers out there counting fish and coral (that’s $1.27 for that angelfish, but the grouper is worth at least $5.02 since you can eat ‘em!) But, alas, the calculation was based on a number of factors, calculated at a desk and not in the field, including tourism dollars, food chain contribution and cost avoidance from storm surge damage.

In addition to current value (no pun intended), the group also managed to calculate the return on conservation investment, citing a 7% return on coral reef conservation and a 40% return on mangrove conservation.  This basically means that the value we get out of conservation efforts is actually more than the money we put in. 

Everybody knows that conceptually, saving the oceans is a good thing to do.  This study seems to provide some practical argument for it as well.  I just keep picturing little seahorses shaped like dollar signs…