What is the value of our oceans?
The oceans are crucial for life on our planet. Taking their protection into account in the impact economy could be a big step towards a sustainable future.
The oceans are of great importance for life on earth, but their value is not taken into account in today's economic models. This needs to change if economies around the world are to embark on a path towards a sustainable future. At the heart of these efforts is the future of our oceans.
A 2023 study published by the UBS Sustainability and Impact Institute sheds light on the importance of our world's transformation towards an impact economy – and thus away from the current orientation towards output. This shift requires us not only to recognize the economic value of our planetary ecosystems, but also to enable the economy to assess the consequences and costs of destroying these ecosystems.
Ecosystems do not function independently of each other, and the health of the planet is dependent on the interaction of different systems. Most of which, are also dependent on oceans. The world's oceans are unique and help our planet improve the quality of air and regulate the earth's temperature. In addition, the oceans offer numerous economic and cultural benefits to humanity: some, such as shipping, are obvious, others are less tangible basic ecosystem services such as food and water, and cultural services (spirituality, leisure).
