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Locally assessing the economic viability of blue carbon: A case study from Panay Island, the Philippines

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  • Thompson, Benjamin S.
  • Clubbe, Colin P.
  • Primavera, Jurgenne H.
  • Curnick, David
  • Koldewey, Heather J.

Abstract

Previous blue carbon studies have focused on discrete carbon stock assessments and overarching systematic reviews which broadly speculate that it may be economically viable to incorporate mangroves into existing carbon finance platforms. There is a discernible need to test this hypothesis through case-specific investigations that determine this presumed viability in a local or regional context – at scales meaningful for policy development. The current study investigates whether the carbon values of mangrove forests on Panay Island, the Philippines, are sufficient to offset the opportunity costs of milkfish (Chanos chanos) aquaculture – the primary cause of mangrove deforestation in the Philippines. Profit margins associated with milkfish aquaculture are calculated through a municipality-wide survey (779±140US$ha−1yr−1). Concurrently, the carbon stocks of two heterogeneous mangrove forests are quantified and compared. Creditable CO2 emissions reductions are modelled under a broad range of assumptions. These emissions are valorised, and a sensitivity analysis is performed to establish the minimum price at which opportunity costs are offset across a range of methodological and accounting preferences. It is determined that carbon prices of around 5–12US$tCO2e−1 would be required to compensate landowners for their lost aquaculture profits. The implications of our findings are discussed.

Suggested Citation

  • Thompson, Benjamin S. & Clubbe, Colin P. & Primavera, Jurgenne H. & Curnick, David & Koldewey, Heather J., 2014. "Locally assessing the economic viability of blue carbon: A case study from Panay Island, the Philippines," Ecosystem Services, Elsevier, vol. 8(C), pages 128-140.
  • Handle: RePEc:eee:ecoser:v:8:y:2014:i:c:p:128-140
    DOI: 10.1016/j.ecoser.2014.03.004
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    References listed on IDEAS

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    1. M. Brander, Luke & J. Wagtendonk, Alfred & S. Hussain, Salman & McVittie, Alistair & Verburg, Peter H. & de Groot, Rudolf S. & van der Ploeg, Sander, 2012. "Ecosystem service values for mangroves in Southeast Asia: A meta-analysis and value transfer application," Ecosystem Services, Elsevier, vol. 1(1), pages 62-69.
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    Cited by:

    1. Tanner, Michael K. & Moity, Nicolas & Costa, Matthew T. & Marin Jarrin, Jose R. & Aburto-Oropeza, Octavio & Salinas-de-León, Pelayo, 2019. "Mangroves in the Galapagos: Ecosystem services and their valuation," Ecological Economics, Elsevier, vol. 160(C), pages 12-24.
    2. Jakovac, Catarina C. & Latawiec, Agnieszka Ewa & Lacerda, Eduardo & Leite Lucas, Isabella & Korys, Katarzyna Anna & Iribarrem, Alvaro & Malaguti, Gustavo Abreu & Turner, R. Kerry & Luisetti, Tiziana &, 2020. "Costs and Carbon Benefits of Mangrove Conservation and Restoration: A Global Analysis," Ecological Economics, Elsevier, vol. 176(C).
    3. Benjamin S. Thompson, 2021. "Corporate Payments for Ecosystem Services in Theory and Practice: Links to Economics, Business, and Sustainability," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    4. Adhitya Wardhono & Panji Tirta Nirwana Putra & M. Abd. Nasir, 2016. "Causal study of macroeconomic indicators on carbon dioxide emission in ASEAN 5," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2016(2), pages 15-31.
    5. Chakraborty, Shamik & Gasparatos, Alexandros & Blasiak, Robert, 2020. "Multiple values for the management and sustainable use of coastal and marine ecosystem services," Ecosystem Services, Elsevier, vol. 41(C).
    6. Benjamin S. Thompson, 2019. "Payments for ecosystem services and corporate social responsibility: Perspectives on sustainable production, stakeholder relations, and philanthropy in Thailand," Business Strategy and the Environment, Wiley Blackwell, vol. 28(4), pages 497-511, May.
    7. Minerva Singh & Luitgard Schwendenmann & Gang Wang & Maria Fernanda Adame & Luís Junior Comissario Mandlate, 2022. "Changes in Mangrove Carbon Stocks and Exposure to Sea Level Rise (SLR) under Future Climate Scenarios," Sustainability, MDPI, vol. 14(7), pages 1-17, March.
    8. Céline Huber & Luc Doyen & Sylvie Ferrari, 2021. "Profitability and conservation goals reconciled through biodiversity offsets," Bordeaux Economics Working Papers 2021-19, Bordeaux School of Economics (BSE).
    9. Thompson, Benjamin S. & Primavera, Jurgenne H. & Friess, Daniel A., 2017. "Governance and implementation challenges for mangrove forest Payments for Ecosystem Services (PES): Empirical evidence from the Philippines," Ecosystem Services, Elsevier, vol. 23(C), pages 146-155.
    10. Shoyama, Kikuko & Kamiyama, Chiho & Morimoto, Junko & Ooba, Makoto & Okuro, Toshiya, 2017. "A review of modeling approaches for ecosystem services assessment in the Asian region," Ecosystem Services, Elsevier, vol. 26(PB), pages 316-328.
    11. Thompson, Benjamin S., 2018. "The political ecology of mangrove forest restoration in Thailand: Institutional arrangements and power dynamics," Land Use Policy, Elsevier, vol. 78(C), pages 503-514.
    12. Shamik Chakraborty & Ram Avtar & Raveena Raj & Huynh Vuong Thu Minh, 2019. "Village Level Provisioning Ecosystem Services and Their Values to Local Communities in the Peri-Urban Areas of Manila, The Philippines," Land, MDPI, vol. 8(12), pages 1-18, November.
    13. Weitzman, Jenny, 2019. "Applying the ecosystem services concept to aquaculture: A review of approaches, definitions, and uses," Ecosystem Services, Elsevier, vol. 35(C), pages 194-206.

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