This report represents the first economic valuation of the ecosystem services provided by deep-sea sponges in the North Atlantic. It is based on information available in the scientific literature at the time of writing, but also indicates the research areas where discoveries and research advances are shortly expected. The report is aimed at a generic public with no specialized knowledge on sponges or on economic valuation. It is outlined in a way to provide essential background information, but makes reference to a comprehensive list of scientific publications for further insights.

This circular stems from a study carried out for FAO projects “Sustainable Fisheries Management and Biodiversity Conservation of Deep-Sea Living Marine Resources and Ecosystems in the Areas Beyond National Jurisdiction” (GCP/GLO/366/GFF) and “Deep-Sea Sponge Grounds Ecosystems of the North Atlantic: An Integrated Approach Towards their Preservation and Sustainable Exploitation” (GCP/GLO/679/EC). These projects included outputs related to the economic valuation of goods and services provided by the deep seas in areas beyond national jurisdiction. This study compiled an estimate of the total economic value (TEV) of the deep seas, which considered the provision of deep-water fish, the harvest of precious corals, the use of substances of marine origin as pharmaceuticals, the extraction of deep and ultra-deep oil and the potential mining of mineral resources from the seafloor, carbon sequestration carried out by the deep seas, the importance of scientific research in the deep seas, and touristic activities with submersibles to visit sites such as the Titanic shipwreck. Comprehensively, the TEV assessed for the deep-sea ecosystem as a whole is estimated at USD 267 billion per year. Ninety two percent of the economic value originates from abiotic resources (oil and minerals), 5 percent from biotic resources (fish, corals and pharmaceuticals of marine origin), 2 percent from cultural services (scientific research and tourism/recreation), and 1 percent from carbon sequestration.

The Common Oceans ABNJ Deep Seas Project is funded by the Global Environment Fund and implemented by FAO and the UN Environment Programme. The partnership brings together a broad range of partners, including regional fisheries bodies responsible for the management of deep-sea fisheries, fishing industry partners, and international organizations to achieve sustainable fisheries management and biodiversity conservation of deep-sea living resources in the ABNJ. To showcase existing knowledge, practices and innovative research for sustainable deep-sea fisheries management and biodiversity conservation in the ABNJ, the Food and Agriculture Organization of the United Nations (FAO), in collaboration with UN Environment World Conservation Monitoring Centre (UNEP-WCMC) and the SponGES Project consortium, organized a meeting – the ABNJ Deep Sea Meeting 2019 – that took place on 7-9 May 2019, at FAO Headquarters in Rome, Italy. Over 40 participants, including representatives from partner organizations and other stakeholders from multiple sectors within the ABNJ, attended the three-day meeting. While significant progress has been made in the management of deep-sea fisheries and in the protection of vulnerable marine ecosystems, the ABNJ still faces threats from climate change, ocean acidification, biodiversity loss, and pollution. Building on the achievements of the Common Oceans ABNJ Deep Sea Projects and the SponGES Project, the participants were invited to give presentations on key topics and discuss emerging issues concerning ABNJ governance and deep-sea research, monitoring and management.

Assessments and Conservation of Biological Diversity from Coral Reefs to the Deep Sea: Uncovering Buried Treasures and the Value of the Benthos examines marine benthic habitats around the world that are linked by their physical location at the bottom of the oceans. The book approaches deep sea marine biodiversity with perspectives on genetics, microbiology and evolution, weaving a narrative of vital expert linkages with the goal of protecting something that most people cannot witness or experience. It provides a full assessment of biological diversity within benthic habitats, from coral reefs to plankton and fish species, and offers global case studies. It is the ideal resource for marine conservationists and biologists aiming to expand their knowledge and efforts to the rarely seen, yet equally important, realms of the ocean and respective benthic species. As these deep-sea ecosystems and their species face unprecedented threats of destruction and extinction due to factors including climate change, this book provides the most current knowledge of this undersea world along with solutions for its conservation. - Compares and contrasts between shallow and marine habitats to reveal revolutionary connections and continuity - Analyzes modern threats and gaps in biological knowledge regarding benthic communities - Examines benthic biodiversity through vertical vs. horizontal gradients - Poses possible solutions for the conservation of benthic habitats and organisms

Marine bioprospecting is a highly topical subject - in both applied and basic research - but, as yet, the marine ecosystem is a relatively unexplored source of natural bioactive substances with potential therapeutic activity. This book addresses the use of marine enzymes in biocatalysis through a series of chapters from leading scientists within academic and industrial fields. Biocatalytic processes can take advantage of the habitat-related properties of marine enzymes, such as salt tolerance, hyperthermostability, barophilicity, cold adaptivity, and so on, whilst also taking into consideration substrate specificity and affinity. These evolved properties are linked to the metabolic functions of the enzymes and to the ecological aspects of the natural source. New properties can also be discovered at the molecular level of catalysis, particularly concerning the stereochemical characteristics of products.Marine enzymes for biocatalysis initially examines the nature and level of interest in marine biological diversity, and outlines the fundamentals of biocatalysis. It goes on to detail sources of marine enzymes, and to analyse examples from both chemical and stereochemical viewpoints of catalysis, including microbial enzymes and animal or plant sources. The book goes on to explore the future potential of marine bioprospecting in biocatalysis. - Compiles studies from leading scientists in a direct and accessible format. Includes practical descriptions of results, adding further details not often covered in formal articles - Takes a molecular view which fully explains the enzymatic aspects of reactions, particularly regarding biocatalytic characteristics and descriptions of bioprocesses - Selects examples of chemical and stereochemical aspects of enzymatic action with respect to known terrestrial counterparts

The objective of this report is to provide an overview of the key socio-economic, management and governance issues relating to the conservation and sustainable use of deep-sea ecosystems and biodiversity. The report highlights our current understanding of these issues and identifies topics and areas that need further investigation to close gaps in knowledge. It also explores the needs and means for interfacing research with policy with a view to contributing to the political processes regarding deep-sea and high-seas governance, which are currently ongoing in various international flora within and outside the UN system. In addition, the report provides guidance on the future direction and focus of research on environmental, socio-economic and governance aspects in relation to the deep-sea.

Following the first international workshop on the economics of ocean acidification organized by the Centre Scientifique de Monaco and the International Atomic Energy Agency in 2010, a second international workshop was held in November 2012, which explored the level of risk, and the resilience or vulnerability of defined regions of the world ocean in terms of fishery and aquaculture species and economic impacts, and social adaptation. This report includes the findings and recommendations of the respective regional working groups and is the result of an interdisciplinary survey of ocean acidification-sensitive fisheries and aquaculture.