In a race against time, the “Brigade” works to save Mexico’s coral reefs and to spread the word on a new funding idea — a hurricane insurance policy.
I’ve been reading a compelling fantasy novel about travel to different worlds that, like other fantasies I’ve read recently, underscores something important about the real world. We are destroying it.
A New York Times article by Catrin Einhorn and Christopher Flavelle focuses on a group in Mexico saving one beautiful piece of our planet, using a different way of funding the work. It’s controversial, but see what you think.
“When Hurricane Delta hit Puerto Morelos, Mexico, in October, a team known as the Brigade waited anxiously for the sea to quiet. The group, an assortment of tour guides, diving instructors, park rangers, fishermen and researchers, needed to get in the water as soon as possible. The coral reef that protects their town — an undersea forest of living limestone branches that blunted the storm’s destructive power — had taken a beating. Now it was their turn to help the reef, and they didn’t have much time.
“ ‘We’re like paramedics,’ said María del Carmen García Rivas, director of the national park that manages the reef and a leader of the Brigade. When broken corals roll around and get buried in the sand, they soon die. But pieces can be saved if they are fastened back onto the reef. …
“The race to repair the reef is more than an ecological fight; it’s also a radical experiment in finance. The reef could be the first natural structure in the world with its own insurance policy, according to environmental groups and insurance companies. And Hurricane Delta’s force triggered the first payout — about $850,000 to be used for the reef’s repairs. …
“When the Brigade laid eyes on their reef, which runs 28 kilometers south of Cancún and is home to critically endangered elkhorn coral, it looked ransacked. Structures the size of bathtubs were flipped upside down. Coral stalks lay like felled trees. Countless smaller fragments of broken coral coated the seafloor.
“On the boat, cement mixers prepared a special paste that snorkelers ferried down to divers who spent hours underwater carefully fastening pieces back on the reef. They used inflatable bags to turn over large formations rolled by the storm and collected fragments to seed new colonies. …
“Back in 2015, Kathy Baughman McLeod, who was then director of climate risk and resilience at the Nature Conservancy, asked a profound question: Could you design an insurance policy for a coral reef?
“On its face, the idea might have seemed absurd. For starters, nobody owns a reef, so who would even buy the policy? And it’s not easy assessing the damage to something that’s underwater.
“But Ms. Baughman McLeod, along with Alex Kaplan, then a senior executive at Swiss Re, a leading insurance company, came up with workarounds. First, the policy could be purchased by those who benefit from the reef — in this case, the state of Quintana Roo, which is also home to Cancún and Tulum and has a tourism economy estimated at more than $9 billion. …
“Second, rather than basing the payout on reef damage, it could be triggered by something far easier to measure: The storm’s wind speed. The stronger the wind, the worse the assumed damage to the reef.
“The idea of putting a dollar value on a reef or ecosystem by identifying a ‘service’ that it provides has become increasingly popular. For example, coastal salt marshes protect from flooding — offering economic benefits on top of environmental ones. Peat bogs store vast amounts of carbon, keeping it out of the atmosphere where it would worsen global warming. And coral reefs reduce the energy of waves by 97 percent, protecting coastal properties.
“But this notion of ‘ecosystem services’ is controversial in some circles.
“ ‘It’s a popular concept because it commodifies nature and it allows people to put a dollar value on nature,’ said Terry Hughes, who directs a center for coral reef studies at James Cook University in Australia. ‘But it’s very anthropocentric and it’s certainly not about protecting nature for nature’s worth. It’s almost kind of selfish.’
If you look at it from the reef’s perspective, Dr. Hughes said, hurricanes are the least of its problems. Climate change, coastal pollution and overfishing are far greater threats.
“But given the scale of the planet’s intertwined environmental emergencies — not only climate change but the collapse in biodiversity — conservationists say they must be pragmatic. More than a million species are at risk of extinction, including many coral species.
“And in Puerto Morelos, monetizing the reef had the almost ironic consequence of helping some in the community understand that it is actually invaluable. ‘My experience with the Brigade has changed my thinking so much,’ said Alejandro Chan, who takes tourists sport fishing and snorkeling. ‘I have to help the reef.’ …
“ ‘If the insurance money had been available in a timely manner,’ said Claudia Padilla, a researcher at the National Fisheries and Aquaculture Institute in Mexico, which developed the Brigade’s hurricane response protocols and trained its members, ‘the results of the rescue effort could have been greatly multiplied.’
“Still, the money will be put to its intended purpose of restoration, funding longer-term projects like seeding of new colonies and replenishment of reef biodiversity. And Mr. Secaira of the Nature Conservancy believes that the rest of the world will use Quintana Roo as proof of concept.
“Indeed, as the Brigade was at work in Puerto Morelos, a bill in Guam’s Legislature sought to evaluate insuring a reef there. Training is underway in other locations in Mexico, Belize and Honduras.”
Hat tip: Hannah. More at the New York Times, here.
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