365
13.5.2 Promoting New Values of SCEs
In many countries, numerous conservation and restoration projects for SCEs have
been performed as public works. However, given that public financing has become
tight in many places, the initiation of nature restoration projects may decline if their
cost-effectiveness is viewed only in terms of the conventional value of SCEs, such
as food provision, recreation, and environmental purification. Therefore, the exploration and promotion of new values of SCEs will become increasingly important in
the future.
The socioeconomic benefits of blue carbon initiatives include improving the
capital value and economic benefits of SCEs, the cost effectiveness as public works,
and promotion of local businesses (Thomas 2014). The benefits referred to here are
all economic incentives, such as carbon offset credit (market transaction), payment
for ecosystem services, and income from funds (Murray et al. 2011; Herr et al.
2015). Also, by appealing to the private sector with monetary incentives, it is
expected that private-led nature restoration projects will be developed. Thus, efforts
for mitigation measures in the future are expected to be not only top-down but also
bottom-up approaches as we comply with the basic policy of the Paris Agreement
that climate change countermeasures will be promoted by both global and local
measures.
13.5.3 Carbon Offset Credit
Carbon offset credit has been a top-down approach in which international markets
are first established and then credit markets are created at the national and local
government levels. However, if a bottom-up approach is to be formed in the future,
a market must be newly established at the local government level, such as the case
of Yokohama City described in Chap. 12 (Nobutoki et al. 2018), with national and
international organizations supporting and verifying the market.
In order to develop the social implementation of local blue carbon credit schemes,
independent methods for the measurement, reporting, and verification (MRV) of the
credits would be needed, namely, measuring blue carbon accurately, objectively,
and quantitatively based on scientific and technological knowledge, transparent
reporting, and verification. The submission of greenhouse gas inventories to the
UNFCCC Convention Secretariat is based on the principle of MRV.
Three approaches can be used to store atmospheric CO 2 in the sea via natural
restoration projects and to help mitigate climate change: (1) creation of target ecosystems (i.e., carbon reservoirs and atmospheric CO 2 sinks); (2) reduction of the
decline of target ecosystems by restoration and conservation; and (3) improvement
of the management of target environments and ecosystems (i.e., improvement of
carbon storage rate and CO 2 uptake rate per unit area).
13 The Future of Blue Carbon: Addressing Global Environmental Issues
13.5.2 Promoting New Values of SCEs
In many countries, numerous conservation and restoration projects for SCEs have
been performed as public works. However, given that public financing has become
tight in many places, the initiation of nature restoration projects may decline if their
cost-effectiveness is viewed only in terms of the conventional value of SCEs, such
as food provision, recreation, and environmental purification. Therefore, the exploration and promotion of new values of SCEs will become increasingly important in
the future.
The socioeconomic benefits of blue carbon initiatives include improving the
capital value and economic benefits of SCEs, the cost effectiveness as public works,
and promotion of local businesses (Thomas 2014). The benefits referred to here are
all economic incentives, such as carbon offset credit (market transaction), payment
for ecosystem services, and income from funds (Murray et al. 2011; Herr et al.
2015). Also, by appealing to the private sector with monetary incentives, it is
expected that private-led nature restoration projects will be developed. Thus, efforts
for mitigation measures in the future are expected to be not only top-down but also
bottom-up approaches as we comply with the basic policy of the Paris Agreement
that climate change countermeasures will be promoted by both global and local
measures.
13.5.3 Carbon Offset Credit
Carbon offset credit has been a top-down approach in which international markets
are first established and then credit markets are created at the national and local
government levels. However, if a bottom-up approach is to be formed in the future,
a market must be newly established at the local government level, such as the case
of Yokohama City described in Chap. 12 (Nobutoki et al. 2018), with national and
international organizations supporting and verifying the market.
In order to develop the social implementation of local blue carbon credit schemes,
independent methods for the measurement, reporting, and verification (MRV) of the
credits would be needed, namely, measuring blue carbon accurately, objectively,
and quantitatively based on scientific and technological knowledge, transparent
reporting, and verification. The submission of greenhouse gas inventories to the
UNFCCC Convention Secretariat is based on the principle of MRV.
Three approaches can be used to store atmospheric CO 2 in the sea via natural
restoration projects and to help mitigate climate change: (1) creation of target ecosystems (i.e., carbon reservoirs and atmospheric CO 2 sinks); (2) reduction of the
decline of target ecosystems by restoration and conservation; and (3) improvement
of the management of target environments and ecosystems (i.e., improvement of
carbon storage rate and CO 2 uptake rate per unit area).
13 The Future of Blue Carbon: Addressing Global Environmental Issues