Economic Theory to Rescue Reefs?

The prognosis for coral reefs is dire. A study at the University of Queensland (Australia) suggests that Modern Portfolio Theory (MPT) can be helpful, in selecting conservation projects that will optimise coral survival in this time of climate change (https://www.theguardian.com/environment/2021/nov/28/stock-markets-modern-portfolio-theory-mpt-used-to-pick-coral-reefs-arks-conservation-survive-climate-crisis). Economic theory has certainly had applications in other areas of Biology. For example, 'Game Theory' in Animal Behaviour and Costs versus Benefits analysis in Behavioural Ecology. MPT's originator received a Nobel Prize in the 1950's, for devising rules to help risk-averse investors maximise their economic returns. The University of Queensland study explored using these same rules to identify 50 reefs, best able to survive climate change. The hope is, that these 'ark reefs', would survive the climate crisis and be able to provide material for repopulating corals damaged in other parts of the globe. The approach, if adopted, would target limited investment in reef conservation projects with the strongest potential to succeed. In addition to ecological considerations, there would be a focus on social, economic, health and nutritional benefits for communities living in the reef's locality. Rather obviously, reefs appreciated by their communities are most likely to be effectively protected. The communities would have a vested interest. MPT, if used, seems likely to be mainly employed to curtail investment in 'doomed' locations. The argument would be that it reduced the 'wasting' of limited finance.