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ECOSYSTEM SERVICES (Valuation (Vary depend on (to ndividuals, Direction,…
ECOSYSTEM SERVICES
Benefits derive from ecosystem
Supporting
(photosynthesis, nutrient cycling)
Provisioning
(food, water, air, wood)
Regulating
(filtering water, pollination)
Cultural
(non-material goods e.g., recreation)
Constituents of well-being
Security
Basic material for good life
Health
Good social relations
Freedom of choice and action
Valuation
Vary depend on
to ndividuals
Direction, scale and timing
Condition
Scarcity and substitutability
Location
Step
Qualitative
(the way a decision will change the environment)
Monetary
(translation into economic terms)
Market prices
Stated preferences
Revealed preferences
Quantitative
(quantifying benefits and costs)
Measured by
WTA
WTP
Total economic Value
Non-use value
Use value
How
Undertake original study
Benefit transfer
used to
Capture some ES values ignored by market
Compare financial cost/benefit with env. cot/benefit
identify sustainable opportunities for business
