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Valuation

Valuation

Valuation is the process of estimating the worth, merit, or desirability of benefits derived from ecosystems. Market value is usually in monetary terms, and reflects prices from the organized exchange of goods and services, such as marine products, between buyers and sellers. Non-market value reflect derived benefits, such as shoreline protection, which are not traded in conventional markets.

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 market value of ecosystem goods such as finfish and shellfish stock, ornamental resources, or pharmaceutical products. Non-market 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. Non-monetary methods, which quantify stakeholder preferences or quality of life, may also be used to evaluate decision options or quantify changes in the quality of ecosystem services. 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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Citation Year Study Location Study Type Database Topics

Management Options

Management Option Description Sources Database Topics
Damage Assessment, Documentation & Response: Respond to Natural Resource Injuries from Coastal Construction & Development This involves assessing coral, seagrass, and hard bottom substrate that is impacted during coastal construction repair or alternation. If unacceptable damages are occurring this information will be useful in future permit decision making. If infringements have occurred, this information may be useful for compensatory mitigation and liability for restoration of those natural resources injured. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Biological Monitoring & Restoration; Civil Engineering & Construction; Coastal Development; Coastal Engineering; Construction Codes & Projects; Docks & Marinas; Dredging Regulations; Dredging, Draining, & Filling; Ecosystem Monitoring & Restoration; Environmental Monitoring & Restoration; Impervious Surfaces; Infrastructural Policies; Infrastructure; Land-Based Civil Engineering; Landscape Changes; Mangroves; Mitigation; Permitting & Zoning; Physical Damage; Physical Variables; Ports & Harbors; Reef Habitat; Remediation; Resource Use Management; Seagrasses; Shoreline Armoring; Special Use Permitting; Utilities; Utility Line Construction & Maintenance; Wetland & Reef Restoration; Wetlands
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
Landuse Management: Mine Reclamation Lands disturbed by mining must be reclaimed to their Approximate Original Contour (AOC). Mine operators must backfill, compact, and grade in order to restore the AOC of the land with all highwalls, spoil piles, and depressions eliminated. Spoil material is prone to erosion, and may carry various disturbed toxics into groundwater if not properly managed. Temporary roads and impervious surfaces may have also been constructed for mining purposes. Natural Resources Conservation Service. 2011. National Handbook of Conservation Practices. U.S. Department of Agriculture.

Office of Surface Mining Reclamation and Enforcement. POSTMINING LAND USE: Exceptions to Approximate Original Contour Requirements for Mountaintop Removal Operations and steep Slope Mining Operations. Washington, DC.

Chemical Use Regulations; Civil Engineering & Construction; Coal Mining; Construction Codes & Projects; Decision Support; Deforestation & Devegetation; Discharge Limitations; Discharges; Ditching & Soil Disturbance; Ecosystem Monitoring & Restoration; Environmental Monitoring & Restoration; Environmental Monitoring, Mapping, & Scientific Research; Food & Raw Materials; Hydrologic Management; Impervious Surfaces; Infrastructural Policies; Land-Based Civil Engineering; Landscape Changes; Landscape Conservation & Restoration; Landuse Management; Manufacturing & Trade; Manufacturing & Trade Policies; Mineral, Rock, & Metal Mining; Mining; Mining Policies; Mitigation; Non-point Source Controls; Non-point Source Runoff; Physical & Chemical Water Quality Criteria; Political Pressure; Remediation; Resource Use Management; Sediment; Surface & Groundwater Flow; Toxics; Valuation; Waterborne Discharges
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: Survey and Collect Anecdotal Information Anecdotal information is to be solicited from experts and amateur public participation through surveys and workshops. Persons of interest include fishermen, recreational divers, recreational dive facilities, salvors and other locals with knowledge of marine resources in the area. Information they provide can help identify marine cultural and natural resources and help update resource inventory. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Artisanal Fishing; Biological Harvest; Boating Regulations; Coastal Engineering; Collaboration & Partnering; Commercial Fisheries; Contact Uses; Cultural Policies; Cultural Protections; Cultural Services; Decision Support; Designated Uses; Dive, Snorkeling, & Swimming Tourism; Educational & Research Opportunities; Existence Value & Sense of Place; Finfish & Shellfish Stock; Fisheries & Hunting Policies; Fishing & Harvesting Management; Fishing Sector; Marine Products; Permitting & Zoning; Physical Damage; Provisioning Services; Recreational Fishing; Recreational Opportunities; Resource Use Management; Responses; Security & Public Administration Policies; Tourism & Recreation; Tourism & Recreation Policies; Valuation; Water Transportation
Monitor & Research: Monitor Use Patterns on Artificial and Natural Reefs This management option seeks to provide data for decisions concerning creating new artificial reefs. Use data is important because justification for artificial reefs extends from their ability to shift use pressures (diving, fishing, etc.) from natural reefs. Once an artificial reef is decided on there is much more data to collect and factors to consider when deciding where the artificial reef (#189). NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Artificial Habitat; Biological Addition; Biological Monitoring & Restoration; Boating Activities; Civil Engineering & Construction; Coastal Defense; Complex Habitat & Resources; Coral; Cultural Services; Decision Support; Dive, Snorkeling, & Swimming Tourism; Ecosystem Monitoring & Restoration; Environmental Monitoring & Restoration; Finfish & Shellfish Stock; Fishing Sector; Military; Museums, Amusement Parks, Historical Sites; Provisioning Services; Recreational Fishing; Recreational Opportunities; Reef Habitat; Reef Life; Security; Security & Public Administration Policies; Supporting Services; Tourism & Recreation; Tourism & Recreation Policies; Transportation; Travel Services & Tour Operators; Valuation; Wetland & Reef Restoration
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
Resource Use Management: Marine Heritage Resource Protections This management option involves protecting underwater items/sites that have historical, cultural, archaeological, or paleontological significance. This response advocates permits for action that may degrade the resource. This can be accomplished through creating an MHR field unit, monitoring MHR site degradation, and evaluating excavation and mitigation techniques. Field units can help conduct field research and coordinated, permitted research activities. Experts relating to archaeological research underwater can also be hired with additional funding. Through evaluation of excavation techniques, new technologies can be suggested such as: turbidity screens, sediment removal equipment, and seagrass restoration/relocation protocols to lead to less disturbance. Inventory and decision tools can also be used in the aid of Maritime Heritage Resource protection. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Civil Engineering & Construction; Construction Codes & Projects; Cultural Policies; Cultural Protections; Cultural Services; Decision Support; Designated Uses; Dredging Regulations; Dredging, Draining, & Filling; Ecosystem Services; Educational & Research Opportunities; Existence Value & Sense of Place; Mitigation; Physical Damage; Pipelines; Reef Life; Resource Use Management; Seagrasses; Security & Public Administration Policies; Special Use Permitting; Tourism & Recreation Policies; Utility Line Construction & Maintenance; Valuation; Wetlands
Resource Use Management: Fisheries Management Enforcement Marine protected areas and other types of coastal zone management areas have fisheries management policies that must be enforced in addition to the broader Statues, Regulation and Permit Requirements (#91). Illegal, unregulated and unreported (IUU) fishing is a major problem worldwide. Management area policies must be enforced to have an impact on the fisheries stock. Accidental & Illegal Harvest; Artisanal Fishing; Biological Harvest; Boating Activities; Boating Regulations; Commercial Fisheries; Decision Support; Designated Uses; Ecosystem Monitoring & Restoration; Finfish Harvest; Fishing & Harvesting Management; Fishing Sector; Invertebrate Harvest; Live Collection; Marine Protected Areas; Mitigation; Permitting & Zoning; Physical Damage; Public Administration; Recreational Fishing; Resource Use Management; Security Policies; Special Use Permitting; Tourism & Recreation; Trawling & Fishing Gear Damage
Restoration: Monitor Restoration Resource management staff should make regular field visits to restoration sites in order to monitor restoration progress. Data gathered through monitoring restoration sites will help create a scientific evaluation of restoration methodologies. Knowing the length of time required and costs accrued to restore the original ecological functionality of a reef system is essential for estimating costs for mitigation and remediation. NOAA Marine Sanctuary Program. 2007. Florida Keys National Marine Sanctuary revised management plan. National Ocean Service, Key West, FL.

Biological Monitoring & Restoration; Biological Monitoring, Mapping, & Scientific Research; Cultural Services; Ecosystem Monitoring & Restoration; Educational & Research Opportunities; Environmental Monitoring & Restoration; Existence Value & Sense of Place; Mitigation; Remediation; Valuation; Wetland & Reef Restoration
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
Estuaries Protection Act of 1968, 16 United States Code §§ 1221-1226. Authorizes the Secretary of Interior in cooperation with other federal agencies and the states, to study and inventory estuaries of the united states, including land and water of the Great Lakes, and to determine whether such areas should be acquired for protection. The Secretary is also requied to encourage state and local governments to consider the importance of estuaries in their planning activities relative to federal natural resources grants.

Application to Coral Reefs:Established the congressional policy on the values of wetlands and the need to conserve their natural resources. Protection of wetlands provide coral reefs with an indirect benefit as the wetland serves the functions of nutrient removal and sediment containment

Legislative Actions:

Comments: 		Secretary of Interior in conjunction with other federal agencies and States

Jurisdiction:
United States 		Building & Home Construction; Collaboration & Partnering; Discharges; Docks & Marinas; Environmental Education & Outreach; Existence Value & Sense of Place; Fertilizer & Pesticide Use; Hydrologic Management; Landscape Changes; Mangroves; Nutrient & Contaminant Processing; Ports & Harbors; Recreational Opportunities; Seagrasses; Waterborne Discharges; Wetlands
Identification of impaired surface waters, 62-303 Florida Administrative Code Annotated (2002). The Chapter established a methodology to identify surface waters of the state that will be included on the state's planning list of waters that will be assessed pursuant to subsections 403.067(2) and (3), Florida Statutes. It also establishes a methodology to identify impaired waters based on representative data that will be included on the state's verified list of impaired waters, for which the Department will calculate Total Maximum Daily Load (TMDLs), pursuant to subsection 403.067(4), F.S., and which will be submitted to the United States Environmental Protection Agency pursuant to paragraph 303(d)(1) of the Clean Water Act (CWA).

Application to Coral Reefs:By regulating the amount of pollutants that will be allowed to be discharged into major waterbodies of the state, the amount of pollutants reaching estuarine and then marine environments, and eventually coral reefs, will assist in protecting the reefs and other habitats.

Legislative Actions:The planning list of impaired water bodies has been completed. Data on each water bodies has been collected. DEP is in the process of calculating TMDLs for each water body.

Comments: 		Florida Department of Environmental Protection

Jurisdiction:
State Coastal Waters 		Agriculture, Aquaculture, & Forestry Policies; Construction Codes & Projects; Corporate Responses; Designated Uses; Fertilizer & Pesticide Use; Finfish & Shellfish Stock; Forestry; Irrigation; Landscaping & Household Services; Landuse Management; Metals, Electronics, & Machinery Products; Microorganisms; Mining; Non-point Source Runoff; Nutrient & Contaminant Processing; Nutrients; Oil & Gas Research & Exploration; Point Source Discharges; Sewage Treatment; Solid Waste Disposal; Waste Management Policies; Wastewater Discharge; Wood, Plastics, & Chemical Products
Mangrove Trimming and Preservation Act, 403.9321-403.9333 Florida Administrative Code Annotated (1996). It is the intent of the Legislature to protect and preserve mangrove resources valuable to our environmentand economy from unregulated removal, defoliation, and destruction.

Application to Coral Reefs:Protection and preservation of wetland systems, including mangroves, allow the systems to act as buffers to remove nutrients and sediment that could reach coral reefs and cause damage.

Legislative Actions:Permits are required prior to any trimming. A Professional Mangrove Trimmer must be present when work is being performed. Penalties can include restoration and/or mitigation.

Comments: 		Florida Department of Environmental Protection

Jurisdiction:
State Coastal Waters; US State Waters; Designated Marine Areas 		Agriculture, Aquaculture, & Forestry Policies; Apex Fish Predators; Building & Home Construction; Coastal Development; Construction Codes & Projects; Docks & Marinas; Dredging Regulations; Dredging, Draining, & Filling; Finfish & Shellfish Stock; Landuse Management; Lobster, Crab, & Shrimp; Marine Birds; Non-Monetary Valuation; Nutrients; Ports & Harbors; Resource Use Management; Sediment; Shoreline Protection
National Wildlife Refuge System Improvement Act of 1997, 16 United States Code § 668. Amends the National Wildlife Refuge System Act of 1966. This Act defines the mission of the National Wildlife Refuge System, establishes the legitimacy and appropriateness of six priority wildlife-dependent public uses, establishes a formal process for determining compatible uses of Refuge System lands, identifies the Secretary of the Interior as responsible for managing and protecting the Refuge System, and requires the development of comprehensive conservation plan for all refuges outside of Alaska.

Application to Coral Reefs:

Legislative Actions:

Comments: 		US Fish and Wildlife Serice

Jurisdiction:
United States 		Designated Uses; Environmental Monitoring, Mapping, & Scientific Research; Resource Use Management; Security & Public Administration Policies

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