Vicky Morgan, Joint Nature Conservation Committee
Defra and the UK have been pushing ahead to quantify and value the services, goods and benefits which flow from marine natural capital. This session will share results from the latest work at geographic scales from local (the Marine Pioneer pilot in England), through UK (first marine natural capital accounts) to Atlantic Overseas and Commonwealth Territories, including what values have been revealed, successes, challenges and gaps, and discuss priorities for future work.
The session will start with an explanation of the methods used to identify critical indicators and provide an economic valuation of the flow of key goods, services and societal benefits from natural capital. A more local perspective will be shown in the Marine Pioneer pilot, where the team has compiled a marine natural capital asset register, including ecosystem service value and supply-chain analysis. Work to quantify and value the services provided by natural capital in two Small Island States in the Caribbean will demonstrate how the role of natural capital in disaster risk reduction and poverty alleviation can be quantified, potentially leading to improved financial mechanisms.
Talks:
- Marine Natural Capital Accounts for the UK by Ann Thornton, JNCC & Tiziana Luisetti, Cefas
- North Devon Marine Pioneer – a local case study by Siân Rees, University of Plymouth
- Natural capital and disaster mitigation in the Caribbean UK Overseas Territories by Tony Weighell, JNCC
- Ecosystem Services Accounts for Grenada by Gaetano Grilli, Cefas
This session is scheduled for Day 2, 22 May 2019, 10.30am-12pm.