By Constantine Alexander
The deep sea is teeming with life, most of which is yet undiscovered or about which little is known. And although the intrinsic value of the oceans to every living being can never be quantified, values can be ascribed to the goods and services provided by the marine environment – but only to the extent that scientists have conferred upon us the benefit of knowledge about our marine world and all that it continues to offer.
While marine scientific research and conservation may be regarded by some as disassociated from economic pragmatism and the application of sound investment principles, global data analysis has revealed some surprising conclusions to the contrary.
Marine research has allowed us to evaluate and prioritize the remarkable benefits we derive from oceanic “suppliers” of which we have long been unaware. A 2008 study supported by Conservation International and the US National Oceanic and Atmospheric Administration (NOAA) reported the total net benefit per year provided by the world’s coral reefs alone at $29.8 billion, including coral reef contribution to coastal protection valued at $9 billion and fisheries valued at $5.7 billion.
Marine research has also uncovered the value of sharks, once viewed as threats rather than resources. According to the Australian Institute for Marine Science, a single reef shark can contribute $1.9 million in its lifetime to the economy of the Republic of Palau through the country’s shark diving industry that generates $18 million annually. That represents 8% of Palau’s gross domestic product and contributes as much as 14% of the country’s business tax revenue.
Marine research has also revealed that sharks are particularly resistant to cancer, which has been attributed to the presence of squalamine, a molecule in the liver that is currently being researched to determine its application in the treatment of brain tumors. Marine research has therefore led us to the realization that the severe shark population depletion is highly detrimental to a multitude of interests, including even commercial shellfish fisheries as the population rise of traditional shark prey – skates and rays – is resulting in the loss of more commercially-raised oysters, scallops and clams.
As marine research leads to our valuation of ecosystem components, products and services, we can prioritize financial decision-making, develop sustainable resource extraction policies and determine where ecosystem services can be provided at a lower cost than man-made alternatives – including carbon storage, coastal erosion protection, food resources, water purification and flood control. These issues are becoming increasingly critical as our world population approaches 7 billion people.
The Global Oceans Solution
The procurement of such indispensable marine research data has long been hampered by the disproportionately high cost and frequent unavailability of highly fuel consumptive marine research vessels that are burdened with excess capacity and equipment. This problem has reduced the number, scope, productivity, geographical reach and frequency of marine research projects, rendering many to be cost prohibitive.
The Global Oceans concept of streamlining a research project’s needs to include only the necessary project equipment on a vessel specially selected for its spatial capacity and suitability will reduce mission costs and increase the availability of affordable vessels for project deployment around the world.
Global Ocean’s business framework of providing much needed support for science teams with cost efficient vessel and container management, the fulfillment of equipment needs and emergency support in international port locations will together greatly facilitate the funding and deployment of more marine research missions that can concentrate on international scientific explorations while leaving the logistics to experienced professionals with a network of international contacts to supply necessary assistance, especially in the event of contingencies which tend to arise as a rule rather than as an exception.
To the extent that such knowledge can be obtained in a reliable, efficient and cost-effective manner, including through the Global Oceans business framework, the greater our rewards will be as we recapture marine research investment costs through the development of new pharmaceuticals, medical treatments and the sustainable extraction of natural resources, along with the benefits we derive from our use of natural coastal protection, water filtration, nutrient recycling, and sustainable food sources from the oceans’ natural bounty.
Constantine Alexander is currently working for the establishment of a management plan for the Andros Island EU Special Protection Area (SPA) and a Northern Cycladic marine protected area. Mr. Alexander is a former Managing Director for H.J. Meyers investment banks in California, USA; a consultant to the Commission of the European Union in Brussels, Belgium; and project coordinator of the EU LIFE-Nature Project on Tilos, Greece. He has spoken about marine environmental issues at conferences organized by the European Commission, UN Environmental Program, Mugla University in Turkey, Washington State University and other international organizations. In 2007, he was appointed as an Ambassador of the EU Natura 2000 Networking Program for exemplary environmental management of an EU Special Protection Area (SPA).