We stand at a crossroads where we must decide whether to continue pursuing short-term profit through intensive fishing, or whether to make a long-term investment in the conservation and sustainable management of sharks. Protecting sharks such as the blue shark (Prionace glauca) and utilising the species sustainably for ecotourism are also financially sound decisions – for the local economy, and for the preservation of biodiversity. This is one of the findings of a new report on blue sharks in the Azores and northern Spain.
For only EUR 150 to EUR 160 is realised for a dead blue shark.
The value of a living animal is derived from five factors:
1. Carbon Value: ?? EUR (Northern Spain) ?? EUR (Azores) The carbon value refers to the contribution of blue sharks to the carbon cycle through their role in the food web. Sharks feed on fish that consume plankton, which in turn has absorbed carbon through photosynthesis. They therefore contribute to carbon sequestration. However, there is a lack of concrete scientific evidence regarding the quantity of carbon sequestered by sharks. Scientific rigour therefore requires this positive value to be assumed as €0.
2. Hedge Value: EUR 8.0 million (Northern Spain) EUR 9.5 million (Azores) The hedge value is a statistically determined financial value that a stakeholder would be willing to pay to maintain a population between the minimum viable population and the carrying capacity. It represents a form of "insurance" against fluctuations in population size.
3. Aesthetic Value: EUR 34.9 million (Northern Spain) EUR 17.0 million (Azores) The aesthetic value is generated by biodiversity, through the beauty and quality of life arising from the species and its environment. It is calculated as the maximum price an individual is willing to pay to see the species, plus the price an individual would pay for a product associated with the species on e-commerce platforms.
4. Impact Value: EUR 7.2 million (Northern Spain) EUR 4.6 million (Azores) The impact value is the additional value generated by sustainably increasing the population through active conservation measures or species management, taking into account management, the ecosystem, and external factors.
5. Economic Value: EUR 7.6 million (Northern Spain) EUR 8.2 million (Azores) The economic value is the value generated directly for the economy by the species, taking into account contributions to up to 28 different economic sectors.
6. Total Conservation Value: EUR 57.8 million (Northern Spain) EUR 39.3 million (Azores) The total conservation value is the sum of the species existence value and the impact value. It represents the total value generated by the population of the species when it is sustainably and actively protected and managed.
Based on the estimated abundance of the blue shark in the North Atlantic (Spain) and the Azores (Portugal), this yields an implied average total conservation value of EUR 1,504 per shark in the North Atlantic off Spain, and EUR 1,948 per shark in the Portuguese Azores.
These values reflect the contribution that blue sharks make to society, the economy, and the environment over a 30-year period. A summary of the two reports, which were funded by ElasmOcean and Stop Finning Deutschland, is available at https://sharkallies.org/valuation-reports – the full reports can be requested directly from Shark Allies.
