Quantifying Economic Value of Coastal Ecosystem Services: A Review
Abstract
:1. Introduction
2. Background
2.1. Coastal Wetlands, Ecosystems, Services and Goods
2.2. Valuation of Ecosystem Services
2.2.1. Valuation Methods
2.2.2. Required Data
3. Analysis of the Available Valuation Studies—Selected Sample
3.1. Local and Regional Scale Applications
3.2. Global Scale Applications
3.3. Discussion
4. Coastal Ecosystems and Climate Change Impacts: Monetizing Changes in the Value of Ecosystem Services
4.1. CC Link with Climate Regulation Service
4.2. CC Driven Changes on CES
5. Concluding Remarks
Acknowledgments
Author Contributions
Conflicts of Interest
References
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Use Values | Non-Use Values | |
---|---|---|
Direct Values | Indirect Values | Existence and Bequest Values |
Food, fiber and raw materials provision | Flood control | Cultural heritage and spiritual benefits |
Transport | Storm protection, wave attenuation | Resources for future generations |
Water supply | CC impacts mitigation | Biodiversity |
Recreation and tourism | Contaminant storage, detoxification | |
Wild resources | Shoreline stabilization/erosion control | |
Genetic material | Nursery and habitat for fishes and other marine species | |
Educational opportunity | Nutrient retention and cycling | |
Aesthetic | Regulation of water flow, water filtration | |
Art | Source of food for sea organisms | |
Climate regulation, primary productivity as Oxygen production and CO2 absorption, Carbon sequestration etc. |
Coastal Ecosystem | Direct Use Value | Indirect Use Value |
---|---|---|
Mangrove forests | Raw material (wood production), aesthetic, educational opportunities, artistic value | CC impact mitigation, storm protection and wave attenuation, shoreline stabilization and erosion control, flood control, nursery and habitat for fishes and other marine species, regulation of water flow and filtration, carbon sequestration, oxygen production and CO2 absorption, contaminant storage and detoxification |
Coral reefs | Aesthetic, recreation and tourism (snorkeling), educational opportunities, artistic value, raw material for building, jewelry and aquarium trade | Nursery and habitat for fishes and other marine species, wave attenuation and shoreline stabilization, nitrogen fixation |
Sea-grass beds | Aesthetic, contribution to recreation and tourism (snorkeling) | Nursery and habitat for fishes and other marine species, source of food for sea organisms, shoreline stabilization and erosion control, primary productivity as oxygen production and CO2 absorption, water filtration |
Beach and dune systems | Recreation and tourism, fiber and raw material (wood source) provided by the dune vegetation, aesthetic value, artistic value | Flood control, erosion control, nursery for some marine species (turtles) |
Pelagic systems | Food source, aesthetic value, tourism services, artistic value | Source of food for sea organisms, nursery and habitat for fishes and other marine species |
Valuation Method | Description | Coastal Ecosystem Services and Goods | |
---|---|---|---|
Revealed preference methods (use-value) | Production-based (net factor income) | Often used to value the ecosystem services that contribute to the production of commercially marketed goods | Regulating services such as oxygen production, CO2 absorption, nitrogen fixation and carbon storage, providing fish nurseries, water purification, coastal protection |
Hedonic pricing | Commonly used to value the environmental services contributing to amenities. Property’s price often represents the amenity value of ecosystems | Tourism and recreation, aesthetic, improving air quality | |
Travel cost | Basically considers the travel costs paid by tourists and visitors to the environmental value of a recreation site | Tourism and recreation, recreational fishery and water sports | |
Damage avoided cost, replacement cost | Based on either the cost that people are willing to pay to avoid damages or lost services, the cost of replacing services or the cost paid for substitute services providing the same functions and benefits | Buffering CC impacts such as wave attenuation, providing coastal protection against storms and erosion, flood impact reduction, water purification, carbon storage | |
Stated preference methods (both use and non-use value) | Contingent valuation (CVM) | The most applied method for both use and non-use values, based on surveys asking people their willingness to pay (WTP) to obtain an ecosystem service | Tourism and recreation, recreational fishery and water sports, aesthetic value, cultural and spiritual value, art value, educational value |
Contingent choice (CCM) | WTP is stated based on choices between different hypothetical scenarios of ecosystem conditions | ||
Market price | Often used for the ecosystem products that are explicitly traded in the market | Fiber, wood and sea food provision, raw material for building, and aquarium | |
Benefit transfer | It transfers available data from previous valuation studies for a similar application | Mostly applied for gross value of coastal ecosystems associated with recreation |
Reference | Valuation Method/s | Ecosystem Service/Good | Estimated Value |
---|---|---|---|
[39] | Stated preference | Tourism and recreation (marine national park in Seychelles) | US $88,000 (whole area) |
[40] | Hedonic property price | Aesthetic (Indian ocean) | US $174 (per hectare) |
[41] | Travel cost, stated preference | Recreation (Andaman sea of Thailand) | US $205.41 million (per year) |
[29] | Production-based, avoided damage cost, travel cost, stated preference | Fishery, tourism, biodiversity, amenity, coastal protection (Guam) | US $141 million (per year) |
[42] | Market price, net factor income, stated preference | Recreational and commercial fishing (Caribbean Netherlands, Bonaire) | US $400,000 and US $700,000 (per year) |
[43] | Avoided damage cost | Protection to coastal erosion (Sri Lanka) | US $160–172,000 (per km of reef, per year) |
[44] | Avoided damage cost | Habitat support for fisheries (Caribbean sea) | US $95–140 million (projected by 2015) |
[44] | Avoided damage cost | Tourism (Caribbean sea) | US $300 million (projected by 2015) |
[45] | Avoided damage cost | Coastal protection by wave dissipation (Bonaire Island, Caribbean, Netherlands) | US $33,000–70,000 (within 10 years–beyond 10 years) |
[46] | Avoided damage cost | Coastal protection (Tobago, St. Lucia, (Caribbean) | US $18–33 million, US $28–50 million (annual values) |
[44] | Replacement, substitute cost | Coastal protection in Caribbean coastline | US $750 million–2.2 billion (annually) |
Reference | Valuation Methods | Ecosystem Service/Good | Estimated Value |
---|---|---|---|
[13] | Market price, replacement cost | Fishery, timber, carbon sequestration and storm protection (Vietnam) | US $3000 (per hectare, per year) |
[47] | Avoided damage cost | Coastal protection, wood, habitat support for fishery (Thailand) | US $10,158–12,392 (per hectare) |
[48] | Avoided damage cost | Storm (wind) protection (Odisha region, India) | US $177 (per hectare) (1999 price level) |
[49] | Benefit transfer (from 48 selected studies) | Fisheries, fuel wood, coastal protection, water quality (Southeast Asia) | (mean) US $4185 (per hectare, per year) (2007 price level) |
[12] | Replacement cost | Nutrient retention value (India) | US $232 (per hectare) |
Reference | Ecosystem | Valuation Methods | Ecosystem Service/Good | Estimated Value |
---|---|---|---|---|
[11] | Marsh | Avoided damage cost | Flood attenuation (Colombo, Sri Lanka) | US $5 million (per year) |
[50] | Marsh | Production-based | Habitat support for fisheries (Florida coast) | a. US $6471 (East) b. US $981 (West) (per acre) |
[10] | Beach and dune system | Stated preference | Tourism (San Andres Island, Colombia) | US $997,468 (annual consumer surplus) |
[52] | Pelagic system | Avoided damage cost, market price | Food provision (fish) (UK) | £513 million (in 2004) |
[51] | Pelagic system | Benefit transfer (literature data) | Aesthetic and recreation (British Colombia) | US $23-44 billion (per year) |
[53] | Pelagic system | Travel cost | Recreation (Baltic Sea) | €15 billion (total annual) |
[9] | Pelagic system | Stated preference | Food provision (fish) (coast of Southeast Alaska) | US $248–313 Mean value for single-day private boat fishing trips |
Reference | Ecosystem | Valuation Methods | Ecosystem Service/Good | Estimated Value |
---|---|---|---|---|
[55] | Coastal nature | Net factor income | Research opportunity (Bonaire Island, Caribbean) | US $1,240,000–1,485,000 (in 2011) |
[55] | Coastal nature | Net factor income | Pharmaceutic (Bonaire Island, Caribbean) | US $688,788 (annual) |
[55] | Coastal nature | Net factor income | Art (Bonaire Island, Caribbean) | US $460,000 (annual) |
[42] | Coastal nature | Stated preference | Tourism (Bonaire Island, Caribbean) | US $50 million (annual) |
[56] | Coastal nature | Hedonic property price | Amenity (analysis of 1 million housing transactions) from 1996 to 2008 (UK) | £3700 (moving the bottom 1% postcode to the best 1% postcode (per year) |
[54] | Coral reef and mangrove | Net factor income, avoided damage cost | a. Tourism b. Fisheries c. Erosion protection (Belize, Caribbean) | a. US $150–196 mil. b. US $14–16 mil. c. US $231–347 mil. (in 2007) |
[55] | Coral reef and mangrove | Market price | Carbon sequestration (Bonaire Island, Caribbean) | US $290,000 (annual) |
Coastal Wetlands/Ecosystems | No. of Estimates | Total of Service Mean Value | Total of Median Value | Total of Minimum Value | Total of Maximum Value |
---|---|---|---|---|---|
Open ocean | 14 | 491 | 135 | 85 | 1664 |
Coastal systems | 28 | 28,917 | 26,760 | 26,167 | 42,063 |
Coastal wetlands | 139 | 193,845 | 12,163 | 300 | 887,828 |
Coral reefs | 94 | 352,915 | 197,900 | 36,794 | 2,129,122 |
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Mehvar, S.; Filatova, T.; Dastgheib, A.; De Ruyter van Steveninck, E.; Ranasinghe, R. Quantifying Economic Value of Coastal Ecosystem Services: A Review. J. Mar. Sci. Eng. 2018, 6, 5. https://doi.org/10.3390/jmse6010005
Mehvar S, Filatova T, Dastgheib A, De Ruyter van Steveninck E, Ranasinghe R. Quantifying Economic Value of Coastal Ecosystem Services: A Review. Journal of Marine Science and Engineering. 2018; 6(1):5. https://doi.org/10.3390/jmse6010005
Chicago/Turabian StyleMehvar, Seyedabdolhossein, Tatiana Filatova, Ali Dastgheib, Erik De Ruyter van Steveninck, and Roshanka Ranasinghe. 2018. "Quantifying Economic Value of Coastal Ecosystem Services: A Review" Journal of Marine Science and Engineering 6, no. 1: 5. https://doi.org/10.3390/jmse6010005