Economic value of ecosystem services, minerals and oil in a melting Arctic: A preliminary assessment

Last modified: 
June 19, 2017 - 11:07am
Type: Journal Article
Year of publication: 2017
Date published: 04/2017
Authors: Tanya O'Garra
Journal title: Ecosystem Services
Volume: 24
Pages: 180 - 186
ISSN: 22120416

The Arctic region is composed of unique marine and terrestrial ecosystems that provide a range of services to local and global populations. However, Arctic sea-ice is melting at an unprecedented rate, threatening many of these ecosystems and the services they provide. This short communication provides a preliminary assessment of the quantity, distribution and economic value of key ecosystem services as well as geological resources such as oil and minerals provided by Arctic ecosystems to beneficiaries in the Arctic region and globally. Using biophysical and economic data from existing studies, preliminary estimates indicate that the Arctic currently provides about $281 billion per year (in 2016 US$) in terms of food, mineral extraction, oil production, tourism, hunting, existence values and climate regulation. However, given predictions of ice-free summers by 2037, many of the ecosystem services may be lost. We hope that this communication stimulates discussion among policy-makers regarding the value of ecosystem services and such geological resources as minerals and oil provided by the Arctic region, and the potential ecosystem losses resulting from Arctic melt, so as to motivate decisions vis a vis climate change mitigation before Arctic ice disappears completely.

Freely available?: 
No
Approximate cost to purchase or rent this item from the publisher: US $31.50

(Links to preprints and postprints are checked for validity at the time of publication. If this link does not work, please let us know in the comments below. Additionally, you may use the Google Scholar link below to search for alternative freely-available versions of this resource.)

Summary available?: 
No

Report an error or inaccuracy

Notice an error in the Literature item above? Please let us know in the comments section below. Thank you for helping us keep the Literature Library up-to-date!

Add new comment