Abstract
Oceans and seas represent over 70% of the earth's surface. Furthermore, living aquatic resources can provide a significant contribution to food, energy and bio-based products. However, marine ecosystems are subject to increasing pressures and competing usages, resulting from resources over-exploitation and pollution. In order to produce efficient marine management plans, it is essential to consider the total economic value provided by the marine ecosystems. In this review, we are focusing on the Marine Framework Strategy Directive and the European Marine Spatial Planning that are established for the protection and efficient use of the marine area. We present the ecosystem services approach with regards to the marine ecosystem and propose economic methods that capture the marine ecosystem’s total economic value in relation to the opportunity cost of marine space. Values should be used to guide policy makers following the European directives and initiatives.
Highlights
Marine environment plays an important role for international trade and recreational activities, generating wealth and facilitating development
We are presenting a new area in maritime spatial planning solutions, which is about marine constructions that incorporate different uses of marine recourses and human activities
If we concentrate on the option value of open space deriving from the application on multi-use platforms, we will need to value positive environmental effects related to less greenhouse gas emissions from reducing traffic, less traffic accidents, higher biodiversity in areas that could be free from human activity and offshore constructions, as well as less disturbance for marine organisms and animals
Summary
Athens University of Economics and Business, Athens, Greece, 2 International Centre for Research on the Environment and the Economy, Athens, Greece, 3 Grantham Institute, London School of Economics and Political Science, London, UK. Specialty section: This article was submitted to Ocean Engineering, Technology, and Solutions for the Blue Economy, a section of the journal Frontiers in Marine Science. In order to produce efficient marine management plans, it is essential to consider the total economic value provided by the marine ecosystems. We are focusing on the Marine Framework Strategy Directive and the European Marine Spatial Planning that are established for the protection and efficient use of the marine area. We present the ecosystem services approach with regards to the marine ecosystem and propose economic methods that capture the marine ecosystem’s total economic value in relation to the opportunity cost of marine space.
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