A new report from the World Wildlife Fund (WWF) describes the value of ocean resources worldwide in terms of economics, and warns of a coming recession of sorts.
The WWF produced the report, Reviving the Ocean Economy: The case for action – 2015, together with the Global Change Institute at the University of Queensland and the Boston Consulting Group. According to the report, “key ocean assets” are estimated to at least be worth USD 24 trillion (EUR 22.4 trillion). Compared to the world’s top 10 economies, the world’s oceans rank seventh with an annual value of goods and services of USD 2.5 trillion (EUR 2.3 trillion).
However, the report warns of a potential decline in value due to overexploitation, climate change and other causes.
“Being able to quantify both the annual and asset value of the world’s oceans shows us what’s at stake in hard numbers; economically and environmentally,” said Douglas Beal, partner and managing director at the Boston Consulting Group. “We hope this serves as a call for business leaders and policymakers to make wiser, more calculated decisions when it comes to shaping the future of our collective ocean economy."
WWF is using the report to drive its ongoing message of the need for humans to take better care of the world’s oceans.
“The ocean rivals the wealth of the world’s richest countries, but it is being allowed to sink to the depths of a failed economy,” said Marco Lambertini, director general of WWF International. “As responsible shareholders, we cannot seriously expect to keep recklessly extracting the ocean’s valuable assets without investing in its future.”
