A new perspective on valuating marine climate regulation: The Israeli Mediterranean as a case study

Yoav Peled; Shiri Zemah Shamir; Mordechai Shechter; Eyal Rahav; Alvaro Israel

doi:10.1016/j.ecoser.2017.12.001

A new perspective on valuating marine climate regulation: The Israeli Mediterranean as a case study

Yoav Peled, Shiri Zemah Shamir, Mordechai Shechter, Eyal Rahav, Alvaro Israel

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

Marine climate regulation, the absorption and deposition of atmospheric carbon in the marine environment, is considered a valuable ecosystem service. Past valuations of this ecosystem service neglected to account for its temporal context, either by equating it with primary productivity, an underlying ecosystem process, or disregarded the temporal aspects related to its supply, thus leading to inaccurate valuations. This study presents a simplified spatiotemporal economic valuation methodology of the climate regulation ecosystem service, intended to address these shortcomings. The valuation was applied to the Israeli Exclusive Economic Zone (EEZ) by accounting for permanent and temporary carbon sequestration and the use of Social Cost of Carbon (SCC) values. Based on different carbon prices, the estimated value of climate regulation within the Israeli EEZ ranges between 265.1 and 1270.9 € km⁻² year⁻¹, which is significantly lower compared with past methodologies applied in other areas.

Original language	English
Pages (from-to)	83-90
Number of pages	8
Journal	Ecosystem Services
Volume	29
DOIs	https://doi.org/10.1016/j.ecoser.2017.12.001
State	Published - Feb 2018
Externally published	Yes

Bibliographical note

Publisher Copyright:
© 2017 Elsevier B.V.

Funding

We wish to thank the following colleagues for their advices and comments: Paulo A.L.D. Nunes (UNEP, Calouste Gulbenkian Foundation), Andrea Ghermandi (The Department of Natural Resources and Environmental Management, University of Haifa) and Jack Silverman (Israel Oceanographic and Limnological Research). This study was financially supported by a philanthropic fund, Israel Oceanographic and Limnological Research fellowship and the Mediterranean Sea Research Center of Israel fund as part of Yoav Peled's PhD. dissertation.

Funders	Funder number
Mediterranean Sea Research Center of Israel
philanthropic fund, Israel Oceanographic and Limnological Research

Keywords

Climate regulation
Ecosystem services modeling
Ecosystem services valuation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.ecoser.2017.12.001

Cite this

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title = "A new perspective on valuating marine climate regulation: The Israeli Mediterranean as a case study",

abstract = "Marine climate regulation, the absorption and deposition of atmospheric carbon in the marine environment, is considered a valuable ecosystem service. Past valuations of this ecosystem service neglected to account for its temporal context, either by equating it with primary productivity, an underlying ecosystem process, or disregarded the temporal aspects related to its supply, thus leading to inaccurate valuations. This study presents a simplified spatiotemporal economic valuation methodology of the climate regulation ecosystem service, intended to address these shortcomings. The valuation was applied to the Israeli Exclusive Economic Zone (EEZ) by accounting for permanent and temporary carbon sequestration and the use of Social Cost of Carbon (SCC) values. Based on different carbon prices, the estimated value of climate regulation within the Israeli EEZ ranges between 265.1 and 1270.9 € km−2 year−1, which is significantly lower compared with past methodologies applied in other areas.",

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A new perspective on valuating marine climate regulation: The Israeli Mediterranean as a case study

Abstract

Bibliographical note

Funding

Keywords

UN SDGs

Access to Document

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