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Overview of Economic Valuation of Coral Reefs

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Title: Overview of Economic Valuation of Coral Reefs


1
Overview of Economic Valuation of Coral Reefs
Mt. Irvine, Tobago March 21-22, 2006
  • Lauretta Burke
  • World Resources Institute (WRI)

2
  • economics

3
Beautiful
add pics.
4
Valuable
5
Valuable
6
Valuable
7
Valuable
8
Valuable
9
Valuable
10
Valuable
11
Threatened
  • Coastal development
  • Sewage
  • Dredging

12
Threatened
  • Coastal development
  • Sewage
  • Dredging
  • Runoff from construction and agriculture

13
Threatened
  • Coastal development
  • Sewage
  • Dredging
  • Runoff from construction and agriculture
  • Marine-based threats

14
Threatened
  • Overfishing

15
Threatened
  • Tourism pressure

16
Threatened
  • Coral Bleaching
  • Coral Disease
  • Ocean Acidification

17
Threats to Coral Reefs from Land-based Sources
  • Sediment

18
Threats to Coral Reefs from Land-based Sources
  • Sediment
  • Nutrients

19
Threats to Coral Reefs from Land-based Sources
  • Sediment
  • Nutrients
  • Toxic Substances

20
Global Analysis released in 1998 by World
Resources Institute, in collaboration with
ICLARM, WCMC and UNEP
21
The Reefs at Risk Index
Low
High
Medium
22
  • Global Reefs at Risk successful at raising
    awareness.
  • Relatively coarse-scale (4km.)
  • Regional Reefs at Risk series
  • Higher resolution analysis valuable for
    management
  • More integration and improvement of data

23
Reefs at Risk in the Caribbean
  • Collaboration of over twenty international and
    regional partners
  • Uses Geographical Information System (GIS) to
    evaluate threat to coral reefs

24
Threats Evaluated in Caribbean
  • Coastal Development
  • Watershed-based sources of sediment and pollution
  • Marine-based threat
  • Overfishing

25
Threat Coastal Development
  • Dredging, land filling and reclamation
  • Mining of sand and coral
  • Runoff from construction
  • Sewage discharge
  • Impacts from tourism

26
Coastal Development Analysis Method Inferential
Modeling
Reefs Classified
  • Proxy Indicators
  • Cities
  • Ports
  • Airports
  • Dive tourism centers
  • Coastal Population density
  • Population Growth
  • Tourism Growth
  • Management Effectiveness of MPAs

Reefs Threatened by Coastal Development
Low Medium High
27
Finding COASTAL DEVOPMENTthreatens an
estimated one-third of Caribbean coral reefs.
Estimated threat
28
Regional Summary
Low
Medium
High
Very High
29
Finding INTEGRATED THREAT - nearly two-thirds
of Caribbean coral reefs are threatened by human
activities.
Estimated threat
Low
Medium
High
Very High
30
Finding Degree of human pressure on coral reefs
varies considerably across the region.
Low
Medium
High
Very High
31
Country Summaries
  • Note 1km resolution analysis is coarse scale for
    small islands in Eastern Caribbean. Higher
    resolution possible with local data.

32
Finding If current trends in coral reef
degradation continue, coastal communities and
national economies are poised to sustain
substantial economic losses.
33
Valuation Coral reef-associated fisheries
  • Net annual revenues of over 300 million in 2000.
  • Fisheries could decline by 30-45 by 2015
  • Estimated loss of net revenues between US95
    million to US140 million per year by 2015.

34
Valuation Dive Tourism
  • Net annual revenues of over 2 billion in 2000.
  • Coral degradation could results in a 2-5
    reduction in revenues by 2015
  • Estimated loss of net revenues between US100
    million to US300 million per year by 2015.

35
Valuation Shoreline Protection
  • Over 20 of Caribbean coastline protected by
    coral reefs.
  • Estimated value of this service is between 700
    million and 2.2 billion.
  • Reef degradation could result in losses estimated
    between US140 million to US420 million per year
    by 2050.

36
Policy Recommendations
  • Create the Will for Change
  • Consider long-term economic value in
    decision-making
  • Build Capacity for Change
  • Improve Management
  • International Action

Reefs at Risk in the Caribbean http//reefsatrisk.
wri.org
37
Demand for EV
38
EV Project Characteristics
  • Produce detailed EV estimates for 2 pilot areas
    (Tobago and St. Lucia)
  • Result in estimates of likely economic loss due
    to coral reef degradation
  • Develop a method that is efficient, inexpensive
    and replicable
  • Rely predominantly on existing, available data
  • Produce a tool for application of Econ Valuation
    to policy questions.

39
Ecosystem Services
  • Ecosystem goods (such as food) and services (such
    as waste assimilation) represent the benefits
    human populations derive, directly or indirectly,
    from ecosystems.

40
Ecosystem Services
41
Ecosystem Services from Coral Reefs
42
Purpose of Economic Valuation of Ecosystem Goods
and Services
  • The purpose of economic valuation is to obtain
    reliable, objective information on the benefits
    and costs of conserving ecosystems so as to
    inform decision-making.

43
Economic Valuation Uses
  • Evaluate Values
  • Competing Demands
  • Tradeoffs
  • Externalities
  • Beneficiaries, costs and benefits

44
Taking natures value into account mangrove
conversion
Private Net Present Value per hectare Mangrove
91 Shrimp Farm 2000
Public Net Present Value per hectare Mangrove
1,000 to 3,600 Shrimp Farm -5,400 to 200
Source Millennium Ecosystem Assessment
Sathirathai and Barbier 2001
45
Total Economic Valuation
46
Economic Valuation Methods
  • Effect on Productivity
  • Travel Cost
  • Hedonic Pricing
  • Replacement Cost
  • Avoided Damages
  • Contingent Valuation

47
Other key terms
  • Net Benefits
  • Consumer Surplus

48
Categories of Economic Valuation
  • determine the value of the total flow of benefits
    from an ecosystem (e.g., TEV)
  • determine the net benefits of interventions that
    alter ecosystem conditions (e.g., evaluating the
    value of investing in an MPA)
  • examine how the costs and benefits of an
    ecosystem are distributed (e.g., identifying
    beneficiaries)
  • identify potential financing sources for
    conservation.
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