[Coral-List] ICRS call for abstracts: Economic valuation and market-based conservation

[Jos Hill]

This session will explore opportunities to use ecosystem and capital markets to drive coral reef conservation. We’d also like to examine how we can use government policy to catalyze the development of these systems. Examples of ecosystem markets include the carbon market and payments for ecosystem service (PES) programs.

We invite case studies and the presentation of new theoretical concepts that cover new work in economic valuation studies as well as the following broad questions on market-based conservation.

1.     How can we use economic valuations to influence policy change?
Valuation of ecosystem services is a challenging exercise but can result in positive outcomes if calculated values are realistic and supported by stakeholders.  We are interested to hear about examples and lessons learned where coral reef system valuations have been used to drive policy reform that has enabled increased sustainability.
 
2.     What information do we need to make the financial (business) case for sustainability to businesses? 

Businesses make decisions based on cost/benefit analyses between the cost of an investment and the present value of the future earnings the investment will enable. Unfortunately, the cost of damaging ecosystem services that underpin the future flow of revenues is often missing from the equation. We are interested to hear case studies where the business case for coral reef conservation has been made to companies that are engaging in damaging activities, and the factors that influenced success or failure.
 
3.     What economic tools can we use to solve current market failures that lead to coral reef degradation?
	Examples may include a) using capital markets to promote sustainability, such as impact investing, forward contracts, 	ecosystem services or blue carbon and b) implementation of territorial use rights in marine fisheries (TURFs).
 
4.     What policy changes do we need to put in place to establish market-based incentives that protect coral reefs?
	We are interested to hear examples of policy implementation that has or could enable market-based incentives to function. For example right distributions that enable the implementation of TURFs or payments for ecosystem services 	(PES).
 

Session chairs
Nathalie Hilmi: hilmi at centrescientifique.mc 

Tamatoa Bambridge: tamatoa.bambridge at criobe.pf 

Jos Hill:  jos.hill at presidioedu.org