Global Blue Carbon Market Proposed by Five UN Agencies

Environment News Wire 1 Nov 11;

PARIS, France, November 1, 2011 (ENS) - A global blue carbon market that would create direct economic gain for those who protect ocean habitats is the main feature of a plan issued today by five United Nations agencies to improve the management of the world's ocean and coastal areas.

The "Blueprint for Ocean and Coastal Sustainability" says that the agencies intend to work with existing international carbon markets to define and implement a blue carbon market for protecting marine and coastal carbon sinks.

Oceans act as sinks for the greenhouse gas carbon dioxide, CO2. In fact, the oceans are the largest active carbon sink on Earth, absorbing 26 percent of all CO2 emissions.

One reason for the oceans' big share of carbon is its biological pump, which removes carbon dioxide from the ocean surface, changing it into living matter and distributing it to the deeper water layers.

Out of all the biological carbon captured in the world, 55 percent is taken up at sea by marine living organisms, and so is called blue carbon.

At least half of this is captured by the ocean's vegetated habitats - mangroves, salt marshes, seagrasses, and seaweed. These plants cover less than 0.5 percent of the seabed, but play an important role in regulating the climate and mitigating climate change.

The five UN agencies that authored the Blueprint - UNESCO, the Intergovernmental Oceanographic Commission, the United Nations Development Programme, the International Maritime Organization, and the UN Food and Agriculture Organization - warn that although the oceans account for 70 percent of the planet's surface, only one percent of that area is protected.

To develop and implement a global strategy on blue carbon, their Blueprint says standards must be agreed for blue carbon monitoring and certification. Targets must be set for habitat protection in the context of blue carbon.

In addition, economic valuation methodologies must be developed for blue forest ecosystem services.

The agencies say they will work to create global acceptance of ocean and coastal habitats as a new form of tradable carbon market with a "global blue carbon fund."

Within international climate change policy instruments, they intend to create mechanisms that will allow the future use of carbon credits for marine and coastal ecosystem carbon capture and storage.

The critical role of oceans and their ecosystems has been overlooked, the agencies say. They aim to ensure oceans and coastal ecosystems are not neglected at the upcoming Rio+20 conference scheduled for June 2012.

Their report emphasises that 60 percent of the world's major marine ecosystems have been degraded or are being used unsustainably, resulting in huge economic and social losses.

Mangrove forests have lost 30 to 50 percent of their original cover in the last 50 years while coral reefs have lost 20 percent, increasing the vulnerability of many highly populated coastal areas.

The ocean absorbs close to 26 percent of atmospheric carbon dioxide emissions. This is causing acidification of the oceans that is already threatening some varieties of plankton and poses a threat to the entire marine food chain and the human livelihoods that depend on the oceans and coastal waters.

"Some of these phenomena are not new but are aggravated by cumulative pressures such as climate change, intensified human activity and technological advances," the agencies said today.

"Ecosystems situated in the deep ocean, where biodiversity and habitats often have major value, but are generally not well understood, have virtually no protection at all."

The international community pledged to tackle these challenges at the United Nations summits in Rio in 1992 and Johannesburg (in 2002.

But the commitments made there remain ineffective and their objectives have not been met, the UN agencies acknowledge. Neither the pledge to restore fish stocks to sustainable levels by 2015, nor the promise to create networks of protected marine areas by 2012 have been met.

Few countries have adopted legislation to reduce land-based marine pollution,which has led to an increase in the number of dead ocean areas, the report finds. More than 400 marine areas have been listed as "biologically dead."

"The full implementation of many of these goals and targets will require further efforts by states, intergovernmental organizations and the international community," write the authors.

They claim the present situation is the result of insufficient political will and resources, inadequate institutional capacities, insufficient scientific data and market imbalances.

"Greening the Blue Economy will be science and technology driven," they conclude. "But success will depend on sound policy processes and effective institutional arrangements and will therefore require commitment and funding from the international community as well as nations and industry."

Ten proposals to safeguard the ocean
UN Agencies call on States and the international community for renewed commitment
FAO 1 Nov 11;

1 November 2011 Paris - UN agencies are launching today a plan to improve the management of oceans and coastal areas. The Blueprint for Ocean and Coastal Sustainability sounds the alarm about the health of the oceans, and explains how they influence our everyday life by regulating the climate, providing highly-nutritious food and by sustaining livelihoods and economies. It recalls that although the ocean accounts for 70 per cent of the surface of our planet, only one per cent of it is protected.

Presented at UNESCO Headquarters during the 36th session of the General Conference, the Blueprint was prepared for consideration by the UN conference on sustainable development (Rio+20, June 2012).

It proposes a series of concrete measures to:

Create a global blue carbon market as a means of creating direct economic gain through habitat protection

Fill governance gaps in the high seas, by reinforcing the UN Convention on the Law of the Sea,

Support the development of green economies in small island developing states

Promote research on ocean acidification- how to adapt to it and mitigate it.

Increase institutional capacity for scientific monitoring of oceans and coastal areas

Reform and reinforce regional ocean management organisations

Promote responsible fisheries and aquaculture in a green economy

Strengthen legal frameworks to address aquatic invasive species

"Green" the nutrient economy (fertilizers for example)

Enhance coordination, coherence and effectiveness of the UN system on ocean issues


The Blueprint was prepared by the UN Food and Agriculture Organization (FAO), the UNESCO's Intergovernmental Oceanographic Commission (IOC), the International Maritime Organization (IMO), and the United Nations Development Programme (UNDP).

It emphasises that 60 per cent of the world's major marine ecosystems have been degraded or are being used unsustainably, resulting in huge economic and social losses. Mangrove forests have lost 30 to 50 per cent of their original cover while coral reefs have lost 20 per cent, increasing the vulnerability of many highly populated coastal areas. The ocean absorbs close to 26 per cent of atmospheric carbon dioxide emissions which is provoking acidification that is already threatening some varieties of plankton and poses a threat to the entire marine food chain and dependant socio-economic activities.

Some of these phenomena are not new but are aggravated by cumulative pressures such as climate change, intensified human activity and technological advances. Furthermore, ecosystems situated in the deep ocean, where biodiversity and habitats often have major value, but are generally not well understood, have virtually no protection at all.

The international community pledged to tackle these challenges at the Summits of Rio (1992) and Johannesburg (2002). However the commitments made remain largely ineffectual and their objectives have not been met. Such has been the case for the pledge to restore fish stocks to sustainable levels by 2015, and the promise to create networks of protected marine areas by 2012. Few countries have adopted legislation to reduce land-based marine pollution, leading to an increase in the number of dead ocean areas. More than 400 marine areas have been listed as "biologically dead" to date.

"The full implementation of many of these goals and targets will require further efforts by States, intergovernmental organizations and the international community," state the authors of the report. They claim the present situation is the result of insufficient political will and resources, inadequate institutional capacities, insufficient scientific data and market imbalances.

"Greening the Blue Economy will be science and technology driven," they conclude. "But success will depend on sound policy processes and effective institutional arrangements and will therefore require commitment and funding from the international community as well as nations and industry".

The Blueprint for Ocean and Coastal Sustainability http://www.unesco.org/new/en/rio20