Analysis of Environmental Bonds in Mexican Pacific Major Ship Grounding


Environmental bonds are a means to accounting for future environmental costs, yet examples of application in real-life scenarios are scarce, and estimation of fairness of the bonds is still poorly explored. We examined a recent Mexican Pacific maritime accident in which the aid of extra environmental assessments addressing long-lasting effects was needed, and contributed to the decision-making process of environmental authorities by means of an arrangement based on the legal figure of the environmental bond. The basis to estimate the bond was the cost of activities needed to fulfill compensatory measures, specifically, the cost of research programs that would set a baseline for monitoring long-lasting damage to the bottom. In order to proceed with analysis of environmental bonds, we employed cluster analysis for comparing mean depth, grain size, and composition and abundance of benthic fauna at the three sites set for monitoring long-lasting effects, under the assumption that no differences would mean bond overestimation whereas differences would mean fairness. The results show that the three sites were different enough to justify the spatial setting of three separate sampling campaigns, and that the bond was reasonably not overestimated. The approach appears suitable to address in a semi-analytical way current inquiries regarding fairness of the environmental bonds and so may contribute to the state of the art.

Share and Cite:

M. Mondragon and A. Escofet, "Analysis of Environmental Bonds in Mexican Pacific Major Ship Grounding," Journal of Environmental Protection, Vol. 4 No. 8B, 2013, pp. 65-71. doi: 10.4236/jep.2013.48A2008.

Conflicts of Interest

The authors declare no conflicts of interest.


[1] C. Peynador and A. Escofet, “An ad-hoc Procedure for the Environmental Assessment of Ship Grounding at Todos Santos Bay (Baja California, México): Lessons and Perspectives,” In: G. T. Halley and Y. T. Fridian, Eds., Environmental Impact Assessments, Nova Science Publishers, Inc., New York, 2009, pp. 193-224.
[2] M. Mondragón, “La Figura de Fianzas Ambientales Como Instrumento de Gestión: Lecciones Aprendidas a Partir del Varamiento del APL Panamá en la Bahía de Todos Santos (Baja California, México),” Tesis de Maestría, Facultad de Ciencias, Universidad Autónoma de Baja California, Mexicali, 2013.
[3] M. García and A. Martínez “Seguros y Fianzas Ambientales,” In: M. García-Vázquez, A. Martínez-Cruz and C. Rodríguez-Castelán, Eds., Compiladores, Teoría y Práctica de los Seguros y Fianzas Ambientales, INE-SEMARNAT, México, 2003, pp. 15-35.
[4] Ch. Perrings, “Environmental Bonds and Environmental Research in Innovative Activities,” Ecological Economics, Vol. 1, No. 1, 1989, pp. 95-110. doi:10.1016/0921-8009(89)90026-8
[5] Swiss Re, “The Insurability of Ecological Damage,” 2003.
[6] M. Faure, “Environmental Damage Insurance in Theory and Practice,” 2001.
[7] E. Salah, A. Turki and E. Al-Othman, “Assessment of Water Quality of Euphrates River Using Cluster Analysis,” Journal of Environmental Protection, Vol. 3, No. 12, 2012, pp. 1629-1633. doi:10.4236/jep.2012.312180
[8] D. R. Betters and J. L. Rubingh, “Suitability Analysis and Wild Life Classification: An Approach,” Journal of Environmental Management, Vol. 7, No. 1, 1978, pp. 59-72.
[9] D. L. Ortiz-Lozano, “Análisis Crítico de las Zonas de Regulación y Planeación en el Parque Nacional Sistema Arrecifal Veracruzano,” Tesis de Doctorado, Facultad de Ciencias Marinas, Universidad Autónoma de Baja California, Mexicali, 2006.

Copyright © 2023 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.