In partnership with Oceana, CSF conducted a cost-benefit analysis (CBA) for the creation of the proposed Nazca Ridge Marine Protected Area (NRMPA) located off the coast of central Peru. The CBA estimated the benefits from the creation of the proposed MPA and compared these with costs associated with managing and others resulting from the establishment of the MPA. Roughly 100 kilometers offshore, NRMPA has the potential to be an important icon for marine conservation in Peru and globally while also protecting a source of marine wildlife and resources from future overfishing and pollution threats.
SERNANP, the National Service of Natural Protected Areas of the State, is required by law to conduct cost-benefit analyses for any proposed protected areas. Decisions about new protected areas are made by the full Presidential Cabinet of Peru, with the Minister of Economy and Finance a key player in these deliberations. Therefore, CBAs have to potential to play a critical role in the decision-making process, by providing strong economic arguments for conservation to complement biological arguments.
The proposed MPA is located along the submarine Nazca Ridge, which runs southwest from Peru to Easter Island. In August 2016, Chile established the Nazca-Desventuradas Marine Park, also along the Nazca Ridge surrounding the Desventuradas Islands, which is now the largest marine protected area in the Americas; and in 2010, the Motu Motiro Hiva Marine Park around Salas y Gómez Island following an Oceana and National Geographic supported study.
The Peruvian government announced the official establishment of the Nazca Ridge Marine Protected Area (NRMPA) on June 5, 2021. CSF and Oceana’s CBA provided important information to support the decision-making process, ultimately helping the government to secure and safeguard Peru's marine wildlife and resources for future generations. To learn more about the Nazca Ridge Marine Protected Area, read the full news story here.
Photo: Humpback whale calf
Photo Credit: Tomas Kotouc/ Shutterstock