This section describes the method consisting of an integrated
biogeochemical-economic assessment of the carbon sequestration
services in marine ecosystems, including their contribution to
human welfare—see Fig. 1. In this setting, a high-resolution
biogeochemical model is applied to provide a sound natural
science characterization of the net CO2 fluxes at the air-sea
interface. A key aspect of the analysis, in view of the management
implications of the study, involves the ability to separately account
for the contribution of abiotic (physical and dissolution pumps)
and biotic processes (biological pump) in terms of carbon
sequestration services. Then we proceed with an economic
valuation exercise of these services. Among the different methods
that have been used to assign a value to carbon sequestration, one
may count the analysis of prices in regulatory and voluntary
carbon markets, the analysis of marginal abatement and marginal
damage costs, and stated preference techniques (DECC, 2009;
Jerath et al., 2012). Furthermore, we apply this integrated model
with a spatially explicit approach and apply it to Mediterranean
basin, directly allocating blue carbon tags to the Mediterranean
countries and their Exclusive Economic Zones (