(CNS): The world is losing its mangroves at a faster rate than global deforestation, the United Nations has revealed in a new report pointing to billions of dollars in economic damage impacting millions of lives. The destruction of the coastal habitats is said to be three to five times faster than global forest loss resulting in $42billion losses annually and exposing ecosystems and coastal habitats to an increased risk of devastation from climate change. The report was launched Monday at the 16th Global Meeting of the Regional Seas Conventions and Action Plans, held in Greece, where the UN Environment Programme (UNEP) warned of the far reaching implications of the habitat loss. Although a global phenomenon the Cayman Islands has seen miles of its costal mangrove sacrificed in the name of development in recent years

“The escalating destruction and degradation of mangroves – driven by land conversion for aquaculture and agriculture, coastal development, and pollution – is occurring at an alarming rate,” said UNEP Executive Director Achim Steiner who added that over a quarter of the earth’s original mangrove cover has gone.

“This has potentially devastating effects on biodiversity, food security and the livelihoods of some of the most marginalized coastal communities in developing countries, where more than 90 per cent of the world’s mangroves are found,” he added.

Steiner said mangroves – which are found in 123 countries around the world – provide ecosystem services worth up to $57,000 per hectare per year, storing carbon that would otherwise be released into the atmosphere and providing the over 100 million people who live in their vicinity with a variety of goods and services such as fisheries and forest products, clean water and protection against erosion and extreme weather events. He stressed that their continued destruction “makes neither ecological nor economic sense.”

As well as the economic problems posed by mangrove deforestation, the report, entitled The Importance of Mangroves: A Call to Action, also cautions that a continued reduction in the surface area of mangrove forests would inevitably expose coastal environments to the harmful effects of climate change.

In the Caribbean, mangrove-lined “hurricane holes” have functioned for centuries as safe-havens for boaters needing to ride out storms. The complex network of mangrove roots can also help reduce wave energy, limit erosion and form a critical barrier to the dangers posed by the strengthening tropical storms, cyclones and tsunamis which have been assailing coastal communities in recent years due to climate change.

In order to safeguard what UNEP calls “one of the most threatened ecosystems on the planet,” the report outlines a number of financial mechanisms and incentives designed to stimulate conservation, including the creation of a Global Mangrove Fund, encouraging mangrove conservation and restoration through carbon credit markets, and promoting economic incentives as a source of local income from mangrove protection, sustainable use, and restoration activities.

Steiner said it was important to spell out the need to preserve mangroves in real terms, underlining the economic impact their destruction has on the local and global communities.
“By quantifying in economic terms the value of the ecosystem services provided by mangroves as well as the critical role they play in global climate regulation, the report aims to encourage policymakers to use the tools and guidelines outlined to better ensure the conservation and sustainable management of mangroves.”

(CNS): The world is losing its mangroves at a faster rate than global deforestation, the United Nations has revealed in a new report pointing to billions of dollars in economic damage impacting millions of lives. The destruction of the coastal habitats is said to be three to five times faster than global forest loss resulting in $42billion losses annually and exposing ecosystems and coastal habitats to increased risk of devastation from climate change. The report launched Monday at the 16th Global Meeting of the Regional Seas Conventions and Action Plans, in Greece, the UN Environment Programme (UNEP) warned of the far reaching implications of the habitat loss. Although a global phenomenon, the Cayman Islands has seen miles of its costal mangrove sacrificed in the name of development in recent years.

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