Page 74 - Economia Azul - versão: inglês

impose on society by the pollution they to achieve the objectives of improving envi-
produce or offsetting the benefits gener- ronmental quality through the selection of
ated by certain actions (MANKIW, 2017; the technology to be adopted and the mo-
MUELLER, 2007). ment of its implementation (PERMAN et al.,
Under the economic optimum, instru- 1996; THOMAS; CALLAN, 2010).
ments are characterized as economic when In this chapter, different types of anal-
they affect the calculation of costs and ysis and economic instruments will be ad-
benefits of activities, influencing the deci- dressed, as well as financial mechanisms,
sion-making process, in the sense of produc- which can be applied to the different eco-
ing improvements in environmental quality nomic activities that occur in the ocean. In
(SANTOS, 2014). Compared to regulatory this way, we seek to support countries in
mechanisms (command-and-control), eco- creating incentives that generate revenue
nomic instruments have in their favor the for the conservation and sustainable use of
flexibility allowed to polluting agents, that the ocean, favoring the continuity of these
is, they seek to assure them the freedom activities, guaranteeing the environmental
to economically choose the best alternative quality of the marine environment.
2. Economic instruments applied to the Blue Economy
The marine environment is an asset that services due to environmental impacts
provides a variety of goods and services to caused by ocean industries must be mea-
production and consumption processes, sured and eventually compensated.
which include the raw materials needed for Environmental valuation consists of a set
production and other ecosystem services of methods used to assign value to an envi-
that enable these activities to be carried ronmental good or service that does not yet
out. Thus, ocean-based industries use raw have a market value (CASTRO; NOGUEIRA,
materials from marine ecosystems (such as 2019). Ecosystem assets, goods and ser-
oil, natural gas, fisheries resources) and re- vices can present different groups of eco-
turn waste and tailings from the production nomic values, which are represented by the
process (e.g. ship effluents, solid waste) to Total Economic Value, and is composed of
the environment, which can cause envi- the value attributed to different types of
ronmental degradation that can harm eco- use of a given environment (OECD, 2019).
nomic activities that depend on the ocean The strategy of valuing goods and services
(such as tourism) and society as a whole from the marine environment offers sub-
(PEREIRA, 2020). sidies in decision-making in relation to ac-
Ecosystem services provided by the tions that impact the marine environment,
ocean are fundamental to maintaining the bringing clarity in relation to the cost-bene-
quality of life of living beings and guaran- fit regarding the eventual loss or protection
tee the livelihood of different communities of these habitats.
along the coast. Therefore, their use and According to Torres and Hanley (2016),
possible reduction in the provision of these the environmental valuation of ecosystem
72 BLUE ECONOMIY
services provided in the marine environ- Policy Instruments for the Environment
ment has been growing over the years, (PINE), 57 countries have implemented
having been focused on the so-called “cul- 209 economic instruments relevant to
tural” services (especially recreational val- the oceans, of which 188 are currently in
ue) and provision and, to a lesser extent, force (OECD, 2020). The most common-
regulation – mainly considering the direct ly used instrument is taxes, representing
use value. Ways to improve this instru- just over half of the ocean-relevant instru-
ment include the execution of high qual- ments in the PINE database, followed by
ity, comparable studies with an accurate fees and charges. Taxes relevant to ocean
description of the scenarios; expansion of sustainability generated at least $4 billion
valuation beyond coastal environments, in 2018, with taxes on ocean-related pol-
in view of the industry’s tendency to ex- lution, transport and energy generating
pand into deep areas; increasing valuation the most revenue.
of regulation and support ecosystem ser-
vices; and improving the determination of 2.1. Taxes, fees and charges
option value and non-use value.
OCDE (2017) highlights that a broad set Once monetary values are assigned to
of policy instruments is needed to effectively assets made available by marine and coast-
address pressures on the ocean and ensure al ecosystems, it is possible to establish, for
that the ocean, seas and marine resources example, charges for their use and/or even-
are conserved and managed sustainably. tual loss due to economic activities that
It highlights, in this context, some types result in negative impacts on the environ-
of economic policy instruments available, ment. Taxes/fees/charges are charges levied
among them: taxes, fees and charges (for on companies as a way of internalizing the
example, entrance fees to maritime parks); negative externalities generated by the pro-
right-based management systems, also duction process.
known as tradable permit systems (e.g. in- These types of charges can be applied
dividually transferable quotas for fisheries); directly to companies that emit greenhouse
subsidies to promote biodiversity and the re- gases (GHG) and thus reduce the effects
form of environmentally harmful subsidies; of climate change on the marine environ-
payments for environmental services (PES); ment; taxes on plastic products have been
biodiversity offsets; penalties for non-com- recommended as a way of discouraging
pliance; fines for damages (e.g. an oil spill); their consumption and favoring the reduc-
and taxes on single-use plastics (e.g. plastic tion of marine litter, given that plastic is the
bags). Table 1 summarizes the main charac- main component of this waste; in addition,
teristics of each of these instruments. fees can also be charged within the tour-
In this chapter, we will focus on ana- ism industry as a way to raise funds for the
lyzing the most relevant and most used conservation of natural attributes that are
instruments. It is worth noting, howev- attractive to tourists (HILMI et al., 2019;
er, that, based on data from the OECD OOSTERHUIS et al., 2014).
Economic and Financial Instruments 73