Valuation of the Australian Great Barrier Reef, a UNESCO world heritage site
Deloitte recently found that the Australian Great Barrier Reef is worth€37billion, after surveying1,500 people from 10countries on the value of the reef, in terms of its tourism value and its importance for world biodiversity or for the image of Australia
This amount is not commensurate with the actual value of an ecosystem that covers 344,000 km2 and runs for 2,300 km, yet it is a sum well within the reach of many influential financial groups worldwide. This is a drift towards the financial world. The economic mind-set of this world, which is preoccupied by the lure of money, should play no role in protecting priceless nature.
By valuing an ecosystem based on purely economic criteria, certain players will inevitably attempt to purchase or sell it, in the same way as a simple consumer good. The payment of a price will justify the appropriation. Yet, in order to maintain its full value, nature must remain uncommercialized, priceless, since man cannot produce and replicate it. As a subject of law itself, nature must receive respect from mankind.
Associated areas of specialisation: Environment