The MPAs cover 85% of the Seychelles’ coral reefs and 88% of the nation’s shallow waters, where most nature tourism occurs, according to Sims. She says fishermen, petroleum companies, conservationists and tourism operators were all consulted in the process. “We had to balance social, economic and ecological objectives. If you don’t have good agreement, you might not have compliance.”

Financial benefits

The global economy would greatly benefit from the creation of more protected areas, more than 100 scientists and economists said in a recent report.

Protecting at least 30% of the world’s land and oceans could lead to an increase of $250bn (£191.9bn) of global economic revenue annually, the report found. Currently only 15% of the world’s land and 7% of the oceans are covered by protected areas. Just 2.5% of the oceans falls within “no-take” MPAs that prohibit fishing and human extraction of natural resources, such as oil and gas.

Protected areas significantly drive economic growth, says Anthony Waldron, a researcher focused on conservation finance and lead author of the report. “[Conservation] benefits are bigger than the costs. Protected areas generate more economic revenue than fishing [and act] as an economic driver for nature tourism, a rapidly growing industry,” Waldron says.

The Seychelles recognised the benefits marine conservation could yield. “Sustainability is particularly important for a small island nation like the Seychelles which is very dependent on the environment. Fisheries and tourism are the two pillars of our economy,” says Pouponneau.

Fish products make up 96% of the total value of domestic exports and are critical to the nation’s food security, which has one of the highest levels of fish consumption per capita in the world, according to the World Bank. In a 2017 report the World Bank warned that the “unsustainable use of the marine environment is a major risk to the future of the Seychelles’ blue economy”.

The MPAs will help declining fish stocks recover as well as increase the size and diversity of fish, which in turn should boost fishermen’s incomes and overall revenues, says Enric Sala, a marine ecologist and National Geographic explorer who has carried out research in the Seychelles. “The fish in these areas are in much better shape. They produce more eggs and larvae and replenish life in the ocean,” he says.

Fully protected marine reserves can increase the total biomass of fish by over 600%, boost their size by over 25% and expand the variety of species by over 20%, compared to nearby unprotected areas, according to a 2018 study.

The tourism benefits are also enormous, says Sala, noting that a healthy coral reef can generate billions of dollars in revenue. The Great Barrier Reef contributed $6.4bn (£4.91bn) to the Australian economy in 2016 and helped support more than 64,000 jobs, according to 2017 analysis.

Coral reefs are also effective storm barriers which save countries over $4bn (£3.07bn) in flood damages every year, according to TNC. Without coral reefs, the annual cost of flood damage would double and storm costs would triple, TNC researchers said in a 2018 study.

Healthy ocean, healthy planet

There are also strong mental and physical health benefits associated with spending time in nature, Sala says. “When people visit protected areas, their mental wellbeing improves. Nature has this power to reduce our stress,” he notes.

A 2019 study found that “forest bathing” – the Japanese practice of spending time among trees – could significantly lower people’s levels of the stress hormone cortisol, reduced blood pressure, improved concentration and memory. Exposure to airborne chemicals emitted by plants and trees can also boost immunity. For example, a small study found increased activity by a certain type of white blood cell, in men who had been exposed to “phytoncides” – a type of antimicrobial compound which contributes to the pleasant aroma of forests – in their hotel rooms.

Experts say a healthy ocean should form a critical part of the global recovery from the coronavirus pandemic. “A healthy ocean presents enhanced opportunities for economic recovery post Covid-19, and for building resilience and withstanding the impacts of natural disasters and extreme weather events,” Commonwealth Secretary-General Patricia Scotland said in May.

Sala says the pandemic was caused by human destruction of ecosystems and highlights the importance of countries prioritising conservation in their recovery from the crisis.

The recovery presents “a good opportunity to reconsider the debt of low-income countries and help them lift some of their debt, [and] at the same time help them invest in the nature sector which is going to be key for longer term prosperity”, says Sala.

TNC estimates that up to 85 countries could use a debt for nature model to make their economies more resilient and Weary says plans for similar deals are already under way in several Caribbean and African countries. “This type of deal builds long-term resilience. With climate change we should be prepared for many crises,” says Pouponneau.

Hidden Value

We tend to think that there are rational, permanent reasons that we desire certain things more than others. But from the Aztecs, who were baffled that Spanish conquistadors prized gold over feathers, to the modern-day, where negative oil prices recently flummoxed global markets, history tells us that this is not always the case. This series takes a look at the hidden factors that drive the value we place on things  and how what we prize might change in the future.