David Gordon, Duke University, spoke on the economics of blue carbon, warning that the benefits are not easy to monetize.
She presented the Blue Carbon Initiative, which aims to increase conservation, restoration and sustainable management of coastal blue carbon ecosystems.
This event will be the occasion to discuss and present a number innovative tools building on the work of the Blue Carbon Policy Framework.
He said that to ensure the future of blue carbon economies, they need to be incorporated into existing voluntary markets and included in future mitigation activities.
Scientific understanding of carbon sequestration and potential emissions from coastal ecosystems is now sufficient to develop effective carbon management, policy, and conservation incentives for coastal Blue Carbon.
There is growing evidence and consensus that the management of coastal Blue Carbon ecosystems, through avoided emissions, conservation, restoration and sustainable use has strong potential as a transformational tool in effective global natural carbon management.
Ambassador Eduardo Ulibarri, Permanent Representative of Costa Rica to the UN, moderating the side event, highlighted raising awareness on the mitigating value of blue carbon, and urged including blue carbon in the climate change negotiations.
During three days, thirty participants from ten countries attended to coordinate and guide the establishment of the Blue Carbon Scientific Working Group, which will distribute it's recommendations through a meeting report to be published in March 2010.
The "Blue Carbon" International Scientific Working Group met last week at UNESCO headquarters to discuss the implications of using coastal "blue" carbon as a conservation and management tool contributing to climate change mitigation and the development of associated conservation financing mechanisms.
One of these proposals is the development of a global programme aimed at greater protection and restoration of vital ocean and coastal habitats, and of a global blue carbon market as a means of creating direct economic gain through habitat protection.
The Blue Carbon Scientific Working Group will attempt to detail the global relevance of coastal carbon by creating an inventory of coastal carbon storage and sequestration potential, by identifying coastal carbon hotspots, and by quantifying possible emissions associated with the degradation of coastal ecosystems.
The Working Group was created as an initial step in advancing the scientific, management and policy goals of the Blue Carbon Initiative, whose founding members include Conservation International (CI), the International Union for Conservation of Nature (IUCN), and the Intergovernmental Oceanographic Commission (IOC) of UNESCO.
Speaking on the science of blue carbon, Miguel Cifuentes, CATIE, Costa Rica, warned of the significant amounts of carbon emissions released through the destruction of coastal habitats, land use conversions and upstream disruptions, saying that coastal ecosystems maintain 75% of all tropical commercial fish species through their role as nurseries.
It will be available in four colors: Ardent Red, Aspen White, Carbon Grey and Nightfall Blue.
Pairing a carbon tax with an offsetting cut in corporate taxes would make things more regressive (dark blue bars).
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