What does a blue whale have to do with the economy?
Dr. Ralph Chami, economist and CEO of BlueGreenFutureOrg, had an encounter with a blue whale that changed the course of his career. He learned that whales eat tons of krill, store that carbon, and fertilize the ocean with their nutrient-rich waste. This boosts phytoplankton growth, which absorbs more carbon dioxide and feeds more krill, completing the cycle.
Knowing carbon has a market price, Ralph realized that by simply being alive, that whale must have financial value. He estimated that a whale stores about US$2 million worth of carbon over its lifetime. Today, Ralph calculates the value of carbon storage across species and ecosystems, translating them into carbon credits.
In our next issue on Substack, our co-founder Mitty explains how carbon credits could bridge the gap between environmentalism and economic growth, exploring Ralph’s latest research on how restoring a blue carbon ecosystem could not only be feasible, but lucr...
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