Why to Restore Mangroves? An Economic Assessment

K Kathiresan
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K Kathiresan: Centre of Advanced Study in Marine Biology, Annamalai University, India

Oceanography & Fisheries Open Access Journal, 2019, vol. 10, issue 5, 129-131

Abstract: Despite increasing pressures, the mangrove forest in India has increased by 181 sq. km in two years during 2015-2017. This increase is estimated here for ecological service values. The increased forest cover was likely to result in a storage of 14.38 million CO2 equivalent with economic value of 58 million USD for the carbon credit. Also, the increased forest had possibly added over 84,000 million individuals of commercial finfish and invertebrates to mangrove coastal waters with additional annual catch of 1 million ton and economic gain of 112 million USD. The increased forest cover is further estimated to have safeguarded 4.4 million people from flood damages. The economic benefits accrued as a result of the increased forest cover is multifold greater than the cost of plantation, and hence it is a cost-effective venture. However, 40% of mangroves in India are of open type and degrading and it is suggested to double the efforts of mangrove restoration and conservation, aiming to increase the annual forest cover of 181 sq. km so as to achieve the target of 6,000 sq. km within 6 year period and to contribute more to ecosystem services .

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Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:adp:jofoaj:v:10:y:2019:i:5:p:129-131

DOI: 10.19080/OFOAJ.2019.10.555798

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