SUSTAINABILITY AND THE ENVIRONMENT: ECOLOGY
ECOLOGY:
a new brand
ECONOMY
Research that helps developing countries turn environmental
protection into new economic opportunities is providing important
lessons for advanced economies whose entrenched policies
struggle with changing environmental realities.
It has been clear for decades that
a certain view of ‘the economy’ –
that natural resources must be fully
exploited for national wealth – is at
odds with environmental protection and the
principles of sustainability.
So enduring is this economic principle
that, even in the face of evidence of global
environmental degradation and climate
change, many people worry humankind’s
legacy may ultimately resemble the ruins
of Pompeii or the fabled city of Atlantis
– glittering achievements buried by the
overwhelming force of nature.
However, the tide is turning – slowly.
The value proposition for natural resources
is being re-thought, and the instructive
examples starting to emerge are not the
work of the world’s wealthiest economies,
but that of some of the poorest. Driving
much of this change are global research
collaborations assembled by the University
of Portsmouth’s Professor Pierre Failler, a
specialist in development economics.
Professor Failler has spent more than
20 years proving it is possible, even in the
most challenging scenarios, to change thinking
and practices governing environmental
exploitation and protection. Gradually, he has
helped governments in developing countries
chart alternative, sustainable paths into
environmental protection that stand to be a
lesson for all nations.
Professor Failler’s research focuses
on environmental economics and it is
deliberately practical in its application.
“It’s mainly about the interfaces
between the use of natural resources and
creating better ways to achieve economic
development and growth,” he says.
“For instance, I’m helping many
organisations develop strategies for the
sustainable use of oceans and coastlines …
to come up with new economic frameworks
that lead to new economic policies.”
A major focus for Professor Failler is the
‘blue economy’ – the oceans and coastlines
and their resources.
He emphasises the aim is not just to
improve the health of an ecosystem, such
as the heavily exploited coastal mangroves
in tropical and subtropical countries, but
to concurrently improve economic growth,
jobs and livelihoods.
His work in this field focuses on a
range of outcomes: “When you talk
about the blue economy, people jump
straight to how to make more money
from the ocean, or coastal ecosystems
like mangroves. My job is to show how
protecting these environments can
actually have an even higher monetary
value and deliver more sustained
community wealth.”
He offers some examples:
“Green funds now exist in the global
investment sector for protecting mangroves
because they absorb a lot of carbon. So, the
mangrove can have a value far greater than
cutting it down to make way for another
shrimp farm.
“It’s the same with sharks, which
are becoming threatened species in
some areas. You can make more money
developing scuba diving tourism among
sharks than by having a dead shark and just
selling its fin.”
Professor Failler says that while a nation
can clearly make a lot of money from
exploiting its natural resources, these will
eventually run out if they’re not protected.
Alternatively, if natural resources are
managed as a long-term investment, a
country can build something economically
and environmentally sustainable.
It’s a different way of thinking about
‘economic value’, nonetheless Professor
Failler says the argument for changing
environmental policy still comes down
to the language of balance sheets: “To
convince people, you need to show that the
country will gain financially by adopting this
policy. That’s a big challenge.”
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ISSUE 1 / 2020