TED Talks Daily What a living whale is worth -- and why the economy should protect nature | Ralph Chami
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Nov 25, 2022 Ralph Chami explores the surprising economic value of living blue whales in combating climate change. He argues for an economy that thrives on nurturing nature rather than exploiting it. Discover how preserving ecosystems can benefit both the environment and financial systems. The discussion also highlights the role of carbon offsets, local communities, and innovative technologies like blockchain in fostering sustainable growth. A thought-provoking dive into valuing nature in dollars and cents!
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Blue Whale Encounter
- Ralph Chami, a financial economist, shared his experience of studying blue whales in the Sea of Cortez.
- This experience sparked his interest in understanding the economic value of whales in the context of climate change.
Whales and Carbon Sequestration
- Whales play a vital role in carbon sequestration, capturing significant amounts on their bodies and indirectly through their poop.
- Their poop fertilizes phytoplankton, which absorb CO2, and their bodies store carbon, which sinks to the ocean floor upon death.
The Dying Whales
- Whales are dying due to various human-induced factors such as ship strikes, pollution, and entanglement.
- The current economic system assigns no value to a living whale, only to its parts after it is killed.