(4 November, 2024) WWF held a sub-forum titled “Ocean Accounting to Accelerate Marine Conservation in the Greater Bay Area Seminar" at the China Marine Economy Expo held in Shenzhen and invited the Research Center for Eco-Environmental Science (RCEES), Chinese Academy of Sciences, to announce the phased results of the “Guangdong-Hong Kong-Macao Greater Bay Area Coastal Zone Ecosystem Accounting Research Study” (the study) on 1^st November. The forum brought together dozens of participants from government departments, scientific research institutions, conservation groups and the public. A focused discussion on coastal ecosystem services in the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area) is conducted through keynote speeches, case studies and roundtable discussions, with an aim to promote the improvement of ocean governance in the city cluster of the Greater Bay Area.
 
A healthy ecosystem is crucial to the well-being of mankind. With a total population of 87 million and a total coastline of 3,201 kilometres, the Greater Bay Area is one of the coastal city clusters with the highest population density in the world, contributing to a Gross Domestic Product (GDP) of RMB 14 trillion in 2023. Gross Ecosystem Product (GEP) is an aggregate measure of ecosystem services, including Supporting Services (biodiversity), Provisioning Services (e.g. fishery products), Regulating Services (e.g. carbon sequestration and coastline protection) and Cultural Services (e.g. recreation and ecotourism). Through GEP, the social and economic contribution of the area's ecosystem is quantified. WWF commissioned the RCEES to conduct this study, which has identified the coastal ecosystem of the Greater Bay Area as the pilot study scope and made use of the GEP framework to evaluate its value and changes, as well as to explore the feasibility of extended application of the framework. The report facilitates the unleashing of the bay’s unique potential as it is of great guiding significance to the decision-making process to strike a balance between development and nature conservation of the Greater Bay Area.
 
The study is the core component of the “Sea for Future III” project which is generously funded by the Swire Group Charitable Trust. Utilizing a range of GEP key indicators, existing data on the coastal areas of the Greater Bay Area is reviewed and consolidated in the study to illustrate an overview of the existing ecosystem asset (stock) and ecosystem services (flow), and then conduct a value assessment.
 
Dr. Baolong Han, Associate Professor at the RCEES, Chinese Academy of Sciences, commented, “GEP is a tool to account for the contribution of ecosystems to economic and social development and human well-being, and also an indicator to show the success of nature conservation. Preliminary results show that the Greater Bay Area's total GEP is at least RMB 4.9 trillion in 2022, 82% of which is contributed by the marine ecosystems, mainly from services such as climate regulation and water purification.”
 
The study also pointed out that the coastal areas of the Greater Bay Area provided RMB 15.122 billion in fishery products and about RMB 113 billion in cultural services products. With socio-economic development and population growth, Provisioning Services and Cultural Services are expected to continue to grow. The quantified measurement of ecosystem services can reflect the importance of vibrant ecosystems to socio-economic development and serve as the basis for ecosystem protection evaluation mechanisms.
 
Lydia Pang, Head of Oceans Conservation at WWF-Hong Kong, added, “The ecosystem services provided by our nature are inherently priceless, and is of fundamental importance to our economy, biodiversity, as well as the well-being of our citizens. We need to communicate the value of nature effectively so that all sectors in the society can fully understand and pave the way for mutually beneficial solutions. This pilot study shows that the marine environment in the Greater Bay Area demonstrate a huge potential in terms of ecosystem services contributions and should definitely be taken seriously.”
 
The GEP framework in China has mainly focused on accounting for terrestrial ecosystem services in previous years. This pilot study seeks to extend the existing framework to encompass marine ecosystem services and has resulted in favourable initial outcomes. WWF recommended that for the next stage of work, the study scope should be focused on Hong Kong’s marine environment. We urge collaboration among government bodies, researchers, and conservation organizations to adapt the current accounting framework to suit local context to enable optimal decisions made on marine planning in Hong Kong waters. By leveraging the GEP framework, the value and condition of natural capital can be assessed, which enables decision makers to comprehend the benefits and drawbacks, and provides a scientific foundation for marine management in the future, which includes marine spatial planning, environmental impact assessment, ecological compensation and so on. This will help formulate a more comprehensive development plan for blue economy and resource management strategy and promote a win-win solution between ecological protection and economic development.
 
World leaders gathered for the 16th meeting of the Conference of the Parties (COP16) to the UN Convention on Biological Diversity (CBD) from 21 October to 1 November, 2024. It was a critical moment for the restoration of humanity’s relationship with nature. WWF calls on world leaders to follow the success of the Paris Agreement and develop a global convention accordingly, committing the world to halting and reversing biodiversity loss by 2030 and putting us on the path to nature-positive future.