Fish swimming through the coral on Australia's Great Barrier Reef. Photo: Getty Images
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Coral reefs are an irreplaceable environmental and economic treasure, in need of help

"Losing the world's coral reefs would be like burning every Impressionist painting - you won't get them back." A new exhibiton at the Natural History Museum shows just what a tragedy these natural wonders' loss would be.

When we hear the words "coral reef" we probably reminiscence on its collage of beauty, and feel nostalgic about Finding Nemo, but that’s probably as far as most people's knowledge goes. Yet despite occupying only about 0.1 per cent of the ocean’s floor, they provide life for at least a quarter of all marine species  and with rareness comes fragility. Human interferences such as overfishing, coral bleaching, pollution and climate change have damaged coral reef ecosystems, and many of them are now holding on for dear life.

By 2050, practically all of the world’s coral reefs will be seriously endangered. The Caribbean reefs, for example, have already lost 80 per cent of its coral cover since the 1970s, mainly due to the overfishing of the fish which eat algae that grows on it, as well as a disease that wiped out algae-eating sea urchins – causing the complete off-balance in the coral:algae ratio. Coral and photosynthesising algae are meant to live in symbiotic harmony when the water temperature is just right, but a rise in global temperatures stresses the algae; they get fed up and start to leave the coral in a process called "coral bleaching". The result is that the corals lose their algae, and without the algae they start to die. 

There are around 800 species of coral worldwide, and some have developed extreme survival tactics, like dissolving neighbouring corals with digestive toxins. But this isn't enough, and like all ecosystems, the damage caused to the coral reefs will have a domino effect throughout the world's oceans, and on land - like people living in countries like the Philippines and Haiti, two impoverished places which depend on the reefs for both food and tourism revenue.

To try to kick against public ignorance of just how important coral reefs are to us, the the Natural History Museum has curated a new exhibition about them. "This exhibition helps us to understand and predict the effect of human impact and climate change on our oceans, one of the biggest challenges facing our natural world today," said Sir Michael Dixon, the NMH's director ahead of its opening. "Coral reefs [...] are being studied every day here at the museum."

The exhibition is simple, spacious but effective. You walk in feeling as those you’ve been immersed in water, and there are geometrically-accurate structures of corals dotted around the space to create that "under the sea" illusion (though they're made from fresh plywood, the pungent smell of which may sometimes slap you back to reality).

Speaking to the NS at the press opening, Ove Hoegh-Guldberg from the University of Queensland spoke about why coral reefs are important, and the dangerous consequences of not having them around anymore:

Coral reefs are important for a number of reasons. Up front they are an enormously beautiful and diverse system – the most diverse ecosystem on the planet, aside from the rainforests. When you look at their contribution, they have generated trillions of dollars to economies across the planet. But what’s important is that there are about 500,000 people with very little means who live along coastlines and look to coral reefs for their daily meals and income. And those 500,000 people are extremely vulnerable. If we start to lose productivity of coral reefs and fisheries disappear, those people become even more impoverished.

It's an informative exhibition  and here are seven highlights:

1) It has six corals collected by Charles Darwin during his HS Beagle from 1831 to 1886  and even better, it's got the illustrations from his first scientific study, on the formation of coral reefs.

Darwin's notebook.

2) A giant Turbinaria coral – a massive, one-metre-long specimen, the many layers of which would have been a safe haven for many sea species.

3) A giant clam – the biggest of all living bivalves, and weighs as much as 300 bags of sugar. It's currently under threat of extinction as a result of overfishing.

4) A giant grouper – about the size of a large motorcycle, it’s the largest bony fish living in the Great Barrier Reef. But don’t be deceived by its size, as it doesn’t eat humans and is in real threat of extinction throughout the Indo-Pacific region due to overfishing.

A mighty, giant grouper fish.

5) A sea fan – a fragile lace-like structure that helps filter food out of the water. It’s also home to seahorses and nudibranchs.

6) Gorgeous 180 degree panoramic imagery of several reefs in a chamber of circular screens.

The immersive reef chamber.

7) A hundred real-life fish and 26 species of coral, making up a four-tonne aquarium. (And, of course, I tried to count up all the Nemos and Dorys I could find.)

"Losing the coral reefs would be like taking all the Impressionist pictures in the world and burning them, because you won’t get them back," said Hoegh-Guldberg. "Once you’ve lost them it’s a tragedy." On this evidence, it's clear why.

Coral Reefs: Secret Cities of the Sea will be opened to the public on 27 March – 13 September 2015, 10.00 – 17.50. All photos by the author unless otherwise credited.

Tosin Thompson writes about science and was the New Statesman's 2015 Wellcome Trust Scholar. 

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The Autumn Statement proved it – we need a real alternative to austerity, now

Theresa May’s Tories have missed their chance to rescue the British economy.

After six wasted years of failed Conservative austerity measures, Philip Hammond had the opportunity last month in the Autumn Statement to change course and put in place the economic policies that would deliver greater prosperity, and make sure it was fairly shared.

Instead, he chose to continue with cuts to public services and in-work benefits while failing to deliver the scale of investment needed to secure future prosperity. The sense of betrayal is palpable.

The headline figures are grim. An analysis by the Institute for Fiscal Studies shows that real wages will not recover their 2008 levels even after 2020. The Tories are overseeing a lost decade in earnings that is, in the words Paul Johnson, the director of the IFS, “dreadful” and unprecedented in modern British history.

Meanwhile, the Treasury’s own analysis shows the cuts falling hardest on the poorest 30 per cent of the population. The Office for Budget Responsibility has reported that it expects a £122bn worsening in the public finances over the next five years. Of this, less than half – £59bn – is due to the Tories’ shambolic handling of Brexit. Most of the rest is thanks to their mishandling of the domestic economy.

 

Time to invest

The Tories may think that those people who are “just about managing” are an electoral demographic, but for Labour they are our friends, neighbours and the people we represent. People in all walks of life needed something better from this government, but the Autumn Statement was a betrayal of the hopes that they tried to raise beforehand.

Because the Tories cut when they should have invested, we now have a fundamentally weak economy that is unprepared for the challenges of Brexit. Low investment has meant that instead of installing new machinery, or building the new infrastructure that would support productive high-wage jobs, we have an economy that is more and more dependent on low-productivity, low-paid work. Every hour worked in the US, Germany or France produces on average a third more than an hour of work here.

Labour has different priorities. We will deliver the necessary investment in infrastructure and research funding, and back it up with an industrial strategy that can sustain well-paid, secure jobs in the industries of the future such as renewables. We will fight for Britain’s continued tariff-free access to the single market. We will reverse the tax giveaways to the mega-rich and the giant companies, instead using the money to make sure the NHS and our education system are properly funded. In 2020 we will introduce a real living wage, expected to be £10 an hour, to make sure every job pays a wage you can actually live on. And we will rebuild and transform our economy so no one and no community is left behind.

 

May’s missing alternative

This week, the Bank of England governor, Mark Carney, gave an important speech in which he hit the proverbial nail on the head. He was completely right to point out that societies need to redistribute the gains from trade and technology, and to educate and empower their citizens. We are going through a lost decade of earnings growth, as Carney highlights, and the crisis of productivity will not be solved without major government investment, backed up by an industrial strategy that can deliver growth.

Labour in government is committed to tackling the challenges of rising inequality, low wage growth, and driving up Britain’s productivity growth. But it is becoming clearer each day since Theresa May became Prime Minister that she, like her predecessor, has no credible solutions to the challenges our economy faces.

 

Crisis in Italy

The Italian people have decisively rejected the changes to their constitution proposed by Prime Minister Matteo Renzi, with nearly 60 per cent voting No. The Italian economy has not grown for close to two decades. A succession of governments has attempted to introduce free-market policies, including slashing pensions and undermining rights at work, but these have had little impact.

Renzi wanted extra powers to push through more free-market reforms, but he has now resigned after encountering opposition from across the Italian political spectrum. The absence of growth has left Italian banks with €360bn of loans that are not being repaid. Usually, these debts would be written off, but Italian banks lack the reserves to be able to absorb the losses. They need outside assistance to survive.

 

Bail in or bail out

The oldest bank in the world, Monte dei Paschi di Siena, needs €5bn before the end of the year if it is to avoid collapse. Renzi had arranged a financing deal but this is now under threat. Under new EU rules, governments are not allowed to bail out banks, like in the 2008 crisis. This is intended to protect taxpayers. Instead, bank investors are supposed to take a loss through a “bail-in”.

Unusually, however, Italian bank investors are not only big financial institutions such as insurance companies, but ordinary households. One-third of all Italian bank bonds are held by households, so a bail-in would hit them hard. And should Italy’s banks fail, the danger is that investors will pull money out of banks across Europe, causing further failures. British banks have been reducing their investments in Italy, but concerned UK regulators have asked recently for details of their exposure.

John McDonnell is the shadow chancellor


John McDonnell is Labour MP for Hayes and Harlington and has been shadow chancellor since September 2015. 

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump