Impact of ocean acidification: towards an economic assessment

In 2008, the Second International Symposium on The Ocean in a High CO2 World was held in Monaco, following which the Monaco Declaration was issued at the initiative of the H.S.H. Prince Albert II.

There is cause for concern, the oceans are acidifying rapidly resulting in the following main effects:

Profound changes in marine ecosystems
a slow down or even halt of atmospheric CO2 absorption

Through this Declaration, 155 major names in marine science from 26 countries launched an appeal to world leaders on the danger posed by this phenomenon.

One of their main recommendations was to establish links between the natural sciences and economics.

The Monaco Scientific Centre and the IAEA Marine Environment Laboratory, in partnership with the Prince Albert II Foundation, the Prince’s Government and the French Ministry of Ecology, Sustainable Development and Energy, proposed workshops on ocean acidification which have been held in Monaco since 2010, bringing together scientists and economists from all regions of the world.

The aims of these biennial workshops are:

To enable experts in natural sciences, law and economics to present their views on ocean acidification
To establish solid links between these communities
To provide decision-makers with recommendations on how to mitigate the social and economic impacts of ocean acidification on means of subsistence, trade and food security in ocean resources

These multidisciplinary workshops are not meant to be alarmist and seek to deliver clear and practical messages to political decision-makers to help them understand and manage this issue.

The first international workshop (November 2010) produced a list of the various socio-economic impacts.

The second international workshop (November 2012) focused on fishing and aquaculture, regional aspects of the vulnerability of species and socio-economic adaptation.

The third international workshop (January 2015) concentrated on the impacts of ocean acidification on coastal communities.

You can find a video presentation about the workshops by clicking here

Or download the documents below: