Alternatively, from the empirical valuation perspective, today we find neither a partial equilibrium
nor a general equilibrium application that focuses on the monetary value measurement of the wide
range of impacts of climate change on marine ecosystems. A recent review of the economic
valuation literature of ecosystems and biodiversity services showed that among the 291 valuation
studies submitted to the international call for evidence issued by the European Commission, only 4
referred to marine and coastal valuation studies (Markandya et al. 2008, Sudhkev et al. 2008) – see
Box I