Sea The Value
Active projectProject start: August 2022 | Project end: August 2025
Funder: Natural Environment Research Council (NERC)
Principal Investigator: Professor Nicola Beaumont
To determine novel and policy relevant pluralistic values for marine biodiversity and apply these values to co-develop green investment options, leading to a transformative shift in our understanding and utilisation of the economics of biodiversity.
Challenges to be addressed
The quantified linkage between biodiversity, Natural Capital and regulating Ecosystem Service provision remains cursory and generalized, with minimal consideration of condition, resilience and local variability. Biodiversity values are often singular and provide minimal recognition of beneficiaries. Mminimal inclusion of biodiversity values in public and private decision making
We aim for impact in the immediate term, enabling organizations to integrate the economics of biodiversity into their decision-making, with ultimate benefits over the longer term, as depicted in our Theory of Change (above). We will work with key interested parties to develop usable and transferrable outputs in order to ensure Sea The Value research leads to sustainable change.
Quantify the interlinkages between marine biodiversity, natural capital, and ecosystem services, taking quantity (extent), quality (condition), and resilience into consideration.
Determine the economic and social values associated with carbon sequestration and bioremediation of waste and apply these values to support natural capital accounting frameworks and engage real world communities in mapping social values and trade-offs.
Connect the ecological, economic, and social values of biodiversity to decision-making through co-design and implementation of green investment to maintain and enhance biodiversity.
Milestones & Achievements
The project has only recently launched, nonetheless it would be really good to get some information about project progress on the website and update this regularly. The two key events that can go on there first are:
- The project kick-off meeting (Oct 2022)
- Economics of Biodiversity webinar (November 2022)
- The Project Steering Group kick-off meeting (Feb 2023)
To summarize, this meeting took place at the very beginning of the project – our first ever Sea The Value project meeting. All partners and work package leads attended. There was great energy and enthusiasm amongst participants. We discussed the goals and aims specific to each work package, as well as how each work package could support one another.
NERC Economics of Biodiversity Kick Off Meeting
This event was run by NERC, and was an opportunity to showcase each of the projects that received funding. Nicky attended on behalf of Sea The Value and presented an overview of the project.
Project Steering Group kick-off meeting (Feb 2023)
Our first Project Steering Group meeting will be on the 1st February 2023. This meeting includes many high-level academics and policy makers, and is an opportunity for our Steering Group members to hear detailed updates on each work package from our work package leads.
Who Is Involved
Sea The Value brings together a unique interdisciplinary team of organisations: