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Monetary Valuation

Monetary Valuation

Monetary valuation involves methods to quantify the worth of ecosystem goods and services in terms of economic units (e.g. US dollars). Methods include market values for market-traded goods, or non-market values for non-traded benefits using revealed or state preferences, or cost-avoidance techniques (Hajkowicz 2007).

CMap

Sand production is the process by which calcified coral skeletons and invertebrate shells break down, forming sand which replenishes beaches. Biochemical & genetic resources are the naturally available novel biochemicals and genetic information found in coral reef organisms that can be utilized for animal breeding or development of biotechnology. Carbon storage and cycling is the ability of an ecosystem to utilize, process, and store carbon. Climate regulation is the process by which ecosystems process and store carbon, which can modulate atmospheric levels of carbon dioxide. Complex habitat and resources reflects the complex architecture of sessile, plant-like organisms, such as octocoral and sponges, which provides shelter and protection for small fish and other invertebrates from predators. Contact Uses, such as biological additions, physical damage, and biological harvesting, are activities in which humans create pressures through direct contact with the ecosystem. Cultural services are the nonmaterial benefits people obtain from ecosystems through spiritual enrichment, cognitive development, recreational opportunities, aesthetic experiences, sense of place, and educational and research opportunities. Discharges are the intentional or unintentional distribution of chemicals, debris, or other pollution, into the environment as a consequence of human activities. Ecosystem services are the benefits people obtain from ecosystems . Educational & Research Opportunities pertain to the value derived from a natural ecosystem in regards to knowledge, scientific research, study, and breakthroughs, and the ability to pass this knowledge on to others. Existence value is the economic value or meaning humans place in a particular area, resource or organism simply for existing, separate from any derived use value. Finfish and shellfish stock are fish (e.g., groupers and snappers) and invertebrates (e.g., lobster, crab, conch, octopus, squid, and bivalves) that are harvested for human consumption as seafood. Landscape Changes are alterations of the natural landscape through human activities, including coastal development, shoreline armoring, impervious surfaces, deforestation, or soil disturbance, which can alter water flow patterns and lead to pollutant runoff into coastal systems. Marine products are non-food goods derived from reefs that promote human well-being (e.g, aquarium fish or ornamental resources) and human health (e.g., pharmaceuticals and cosmetics). Mitigation is an effort to lessen or alleviate a burden on persons or the environment caused by some action or offense. Monetary valuation involves methods to quantify the worth of ecosystem goods and services in terms of economic units (e.g. Non-monetary valuation methods are used to quantify ecosystem goods and services in terms of units other than economic ones, such as stakeholder preferences or quality of life. Nutrient and contaminant processing refers to an ecosystem's ability to process and cycle contaminants and nutrients through its system. The Reef Ecosystem includes a suite of abiotic variables that form the physical and chemical environment. Pressures are human activities that create stress on the environment. Provisioning services are the products or ecosystem goods obtained from ecosystems, including seafood, genetic and biochemical resources, pharmaceuticals, ornamental resources, and water resources. Aesthetic & recreational value pertains to the value derived from the visual beauty and recreational opportunities provided by a natural ecosystem, including an assemblage of diverse, healthy, colorful, or unique species. The state of the Reef Ecosystem is the condition, in terms of quantity and quality, of the abiotic and biotic components including physical, chemical, and biological variables. Reef Life is the abundance, distribution, and condition of the biological components of the coral reef ecosystem. Regulating Services are benefits obtained from ecosystem processes that regulate the environment, including erosion regulation, natural hazard regulation, and climate regulation. Responses are actions taken by groups or individuals in society and government to prevent, compensate, ameliorate or adapt to changes in Ecosystem Services or their perceived value. Shoreline Protection is the attenuation of wave energy by reefs that protects coastal communities against shoreline erosion and flooding during storms, hurricanes, and tsunamis that can cause property damage and loss of life. Socio-Economic Drivers include the sectors that fulfill human needs for Food & Raw Materials, Water, Shelter, Health, Culture, and Security, and the Infrastructure that supports the sectors. Supporting services are ecological processes that indirectly benefit humans by maintaining a functional ecosystem for the production of other ecosystem goods and services. Valuation is the process of estimating the worth, merit, or desirability of benefits derived from ecosystems. Water resources reflect the quality and quantity of seawater available for human use, including swimming, navigation, and other uses.

CMap Description

Valuation methods can be used to quantify the monetary or non-monetary value of coral reef ecosystem goods and services. Economic markets, demand, and availability of substitutable products can influence the value of ecosystem goods and services. Non-market traded services, such as recreational opportunities, may be valued indirectly through willingness-to-pay methods, value of replacement or substitutes, travel costs, or in the case of shoreline protection, value of avoided damages. Values may be useful for educational or informational purposes, or to evaluate different decision options in a cost-benefit analysis. A change in the value of ecosystem services, or a desire to increase the total value of ecosystem services, may elicit responses to protect or restore the reef ecosystem by reducing pressures.

Citations

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Management Options

Management Option Description Sources Database Topics
Damage Assessment, Documentation & Response: Natural Resource Injury Incident Litigation This management option involves sharing information and documentation regarding an injury incident so that litigation teams can proceed with legal action against responsible parties. This is achieved through providing vessel grounding litigation management participation in order to process the information collected during assessment phase of injury to help build a case against the responsible party. Also, it involves providing vessel grounding litigation case management support through providing reports, site reconnaissance, deposition, and witness testimonies in support of litigation. Lastly it would involve documenting and tracking costs along the way from field assessment work, reporting, etc. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Anchoring & Vessel Grounding; Boating Activities; Contact Uses; Mitigation; Monetary Valuation; Physical Damage; Resource Use Management; Security & Public Administration Policies; Security Policies; Valuation
Monitor & Research: Utilize Managed Areas for Socioeconomic Research Data are needed to test hypotheses about the socioeconomic impact of marine zoning and user-group perceptions about changes in natural resources within the sanctuary area. User-group perception of changes in natural resources can be compared with quantitative ecological data to identify misconceptions and knowledge gaps. Providing funding opportunities for external scientists to conduct research in the managed area is another option. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Contact Uses; Cultural Services; Culture; Decision Support; Designated Uses; Economic Markets & Policies; Ecosystem Monitoring & Restoration; Educational & Research Opportunities; Environmental Education & Outreach; Food & Raw Materials; Infrastructural Policies; Landuse Management; Marine Protected Areas; Monetary Valuation; Non-Monetary Valuation; Permitting & Zoning; Provisioning Services; Reef Habitat; Reef Inhabitants; Regulating Services; Resource Use Management; Special Use Permitting; Supporting Services; Valuation
Monitor & Research: Monitor Sanctuary Use Patterns and Resource Value This management option seeks to provide data and analysis of consumptive and non-consumptive use of all natural resources within sanctuary borders. Special emphasis is to be placed on artificial and natural reef resources used by residents and visitors. Wherever possible, market and non-market values of these resources should be elicited as well. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Biological Monitoring & Restoration; Contact Uses; Coral; Cultural Services; Economic Markets & Policies; Ecosystem Monitoring & Restoration; Marine Protected Areas; Monetary Valuation; Non-Monetary Valuation; Provisioning Services; Reef Habitat; Resource Use Management; Tourism & Recreation Policies; Valuation
Restoration: Environmental Remediation Environmental Remediation is a type of restoration that's focus ranges from Brownfields to Oil Spills to Hazardous Waste Sites. These restoration activities aim to restore the site to a previous condition, or to a condition that is not a threat to human health or other forms of life. Several standards can be used to determine when remediation is necessary and to what extent the environment should be restores. Biocriteria can be used to determine the degree of degradation to biological components of the site. Often it is the presence of a particular pollutant in the soil, water or air, which is above acceptable limits and will not degrade fast enough over a short period of time and therefore must be removed. Physical and chemical water quality criteria can be used to set maximum acceptable limits of water quality parameters. Air quality criteria can be used to set acceptable maximum and minimum air standards for remediation. Office of Solid Waste and Emergency Response. 2005. Contaminated Sediment Remediation Guidance for Hazardous Waste Sites. EPA-540-R-05-012, US Environmental Protection Agency.

Environment Protection Authority. EPA Guidelines for Environmental management of on-site remediation. Environment Protection Authority, Adelaide, Australia.

Applied Chemicals; Biocriteria; City Planning; Decision Support; Discharge Limitations; Discharges; Ecosystem Monitoring & Restoration; Environmental Monitoring & Restoration; Environmental Monitoring, Mapping, & Scientific Research; Food, Beverage, & Tobacco Products; Health; Health Policies; Landuse Management; Littering; Manufacturing & Trade; Metals, Electronics, & Machinery Products; Military; Mining; Mining Policies; Mitigation; Monetary Valuation; Nutrient & Contaminant Processing; Oil & Gas Industry; Oil & Gas Rigs; Oil & Gas Tankers; Petroleum Spills; Physical & Chemical Water Quality Criteria; Pipelines; Point Source Discharges; Public Administration; Remediation; Security; Solid Waste Disposal; Supporting Services; Toxics; Valuation; Waste Management; Waste Management Policies; Wastewater Discharge; Waterborne Discharges; Wood, Plastics, & Chemical Products

Laws

Legal Citation Purpose of Law Management Organization Database Topics

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