News & Events

SEMRU launches a new report on Ireland’s marine ecosystem service values, Friday 29th June

L to R: Danial Norton, SEMRU, Damien English TD, Sean Kyne TD, Peter Heffernan, Marine Institute

A new report by SEMRU ’Valuing Ireland’s Blue Ecosystem Services’ was launched today at the 5th Annual Ocean Wealth Conference, taking place in Galway as part of Ireland’s national maritime festival ’SeaFest’. Up to now SEMRU has produced bi-annual reports on the direct economic value of Ireland’s ocean economy, valued at €1.8 billion or approximately 1% of GDP in 2017. This new research however, focuses on the ecosystem service benefits that society receives from Ireland’s marine environment. Marine ecosystem services are provided by the processes, functions and structure of the marine environment that directly or indirectly contribute to societal welfare, health and economic activities.  These services are vital to ensuring blue growth in the ocean economy. Factoring marine ecosystem service values into ocean economy account frameworks may help to ensure a sustainable “blue economy” for Ireland by making sure that growth in the ocean economy does not exceed the carrying capacity of the marine environment. 

The full report is available to download VIBES Report