The blue carbon wealth of nations

Christine Bertram, Martin Quaas, Thorsten B.H. Reusch, Athanasios T. Vafeidis, Claudia Wolff and Wilfried Rickels

Open Access Publications from Kiel Institute for the World Economy from Kiel Institute for the World Economy (IfW Kiel)

Abstract: Carbon sequestration and storage in mangroves, salt marshes and seagrass meadows is an essential coastal ‘blue carbon’ ecosystem service for climate change mitigation. Here we offer a comprehensive, global and spatially explicit economic assessment of carbon sequestration and storage in three coastal ecosystem types at the global and national levels. We propose a new approach based on the country-specific social cost of carbon that allows us to calculate each country’s contribution to, and redistribution of, global blue carbon wealth. Globally, coastal ecosystems contribute a mean ± s.e.m. of US$190.67 ± 30 bn yr−1 to blue carbon wealth. The three countries generating the largest positive net blue wealth contribution for other countries are Australia, Indonesia and Cuba, with Australia alone generating a positive net benefit of US$22.8 ± 3.8 bn yr−1 for the rest of the world through coastal ecosystem carbon sequestration and storage in its territory.

Keywords: Climate-change mitigation; Economics; Marine biology (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env, nep-isf and nep-sea
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Citations: View citations in EconPapers (20)

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Journal Article: The blue carbon wealth of nations (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkie:240209

DOI: 10.1038/s41558-021-01089-4

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