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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.

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