Valuing blue carbon: carbon sequestration benefits provided by the marine protected areas in Colombia.

Marine protected areas are aimed to protect and conserve key ecosystems for the provision of a number of ecosystem services that are the basis for numerous economic activities. Among the several services that these areas provide, the capacity of sequestering (capturing and storing) organic carbon is a regulating service, provided mainly by mangroves and seagrasses, that gains importance as alternatives for mitigating global warming become a priority in the international agenda. The objective of this study is to value the services associated with the capture and storage of oceanic carbon, known as Blue Carbon, provided by a new network of marine protected areas in Colombia. We approach the monetary value associated to these services through the simulation of a hypothetical market for oceanic carbon. To do that, we construct a benefit function that considers the capacity of mangroves and seagrasses for capturing and storing blue carbon, and simulate scenarios for the variation of key variables such as the market carbon price, the discount rate, the natural rate of loss of the ecosystems, and the expectations about the post-Kyoto negotiations. The results indicate that the expected benefits associated to carbon capture and storage provided by these ecosystems are substantial but highly dependent on the expectations in terms of the negotiations surrounding the extension of the Kyoto Protocol and the dynamics of the carbon credit's demand and supply. We also find that the natural loss rate of these ecosystems does not seem to have a significant effect on the annual value of the benefits. This approach constitutes one of the first attempts to value blue carbon as one of the services provided by conservation.

Carbon accounting and economic model uncertainty of emissions from biofuels-induced land use change.

Few of the numerous published studies of the emissions from biofuels-induced "indirect" land use change (ILUC) attempt to propagate and quantify uncertainty, and those that have done so have restricted their analysis to a portion of the modeling systems used. In this study, we pair a global, computable general equilibrium model with a model of greenhouse gas emissions from land-use change to quantify the parametric uncertainty in the paired modeling system's estimates of greenhouse gas emissions from ILUC induced by expanded production of three biofuels. We find that for the three fuel systems examined--US corn ethanol, Brazilian sugar cane ethanol, and US soybean biodiesel--95% of the results occurred within ±20 g CO2e MJ(-1) of the mean (coefficient of variation of 20-45%), with economic model parameters related to crop yield and the productivity of newly converted cropland (from forestry and pasture) contributing most of the variance in estimated ILUC emissions intensity. Although the experiments performed here allow us to characterize parametric uncertainty, changes to the model structure have the potential to shift the mean by tens of grams of CO2e per megajoule and further broaden distributions for ILUC emission intensities.

Quantifying and valuing potential climate change impacts on coral reefs in the United States: comparison of two scenarios.

The biological and economic values of coral reefs are highly vulnerable to increasing atmospheric and ocean carbon dioxide concentrations. We applied the COMBO simulation model (COral Mortality and Bleaching Output) to three major U.S. locations for shallow water reefs: South Florida, Puerto Rico, and Hawaii. We compared estimates of future coral cover from 2000 to 2100 for a "business as usual" (BAU) greenhouse gas (GHG) emissions scenario with a GHG mitigation policy scenario involving full international participation in reducing GHG emissions. We also calculated the economic value of changes in coral cover using a benefit transfer approach based on published studies of consumers' recreational values for snorkeling and diving on coral reefs as well as existence values for coral reefs. Our results suggest that a reduced emissions scenario would provide a large benefit to shallow water reefs in Hawaii by delaying or avoiding potential future bleaching events. For Hawaii, reducing emissions is projected to result in an estimated "avoided loss" from 2000 to 2100 of approximately $10.6 billion in recreational use values compared to a BAU scenario. However, reducing emissions is projected to provide only a minor economic benefit in Puerto Rico and South Florida, where sea-surface temperatures are already close to bleaching thresholds and coral cover is projected to drop well below 5% cover under both scenarios by 2050, and below 1% cover under both scenarios by 2100.