Benefits and opportunity costs of Australia's Coral Sea marine protected area: A precautionary tale

Abstract

The paper analyses the benefits and costs of the Coral Sea Marine Reserve which, together with the contiguous Great Barrier Reef World Heritage Area, creates the largest marine protected area in the world. The benefits are found to be minimal, in both anthropocentric and ecocentric terms. Nevertheless establishment and management costs could be in the order of $A20 million and $A13 million, respectively. Meanwhile, serious depletion of the vital fish stocks of the largest tuna fishery in the world in the Western and Central Pacific Ocean—in which Australia is a management partner—continues, as does the rapid erosion of the unique and outstanding values of the Great Barrier Reef. It is concluded that current investment in the creation and management of the Coral Sea Reserve—in the face of the demonstrably urgent needs for investment in the management of marine resources in the near region and in Australia – is problematic.