Economic impact assessment tools (=methodology) for stakeholder involvement and consensus building
Topic of the practice
Ecosystem services are defined as services provided by the natural environment that benefit society. Valuing them contributes towards better decision making ensuring that policy appraisals account for the costs and benefits to the natural environment.
Good Practice Information
PROBLEM: Without valuing ecosystem services the costs associated with environmental degradation cannot be quantified and nor can the economic benefits arising from improved management of ecosystems.
OBJECTIVES: To ensure that the true value of ecosystems and the services they provide are taken into account in policy decision-making.
ACTIVITIES: Characterise and quantify ecosystem services and how they contribute to human welfare. These benefits are translated into economic value using valuation techniques. Explore the potential to implement paid ecosystem services.
Evidence of success
RESULTS: Characterisation of ecosystem services, including mapping, aids catchment management decision making and identifies potential for PES (payments for ecosystems services) schemes. Engagement between water companies and farmers has led to reduced agricultural pollution of raw drinking water sources, leading to reduced water treatment costs.
Contact details to obtain further information on the practice
The Rivers Trust
Annex completed on: 08-25-2013