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Valuing ecosystem services in complex coastal settings: An extended ecosystem accounting framework for improved decision-making

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posted on 2024-04-02, 23:16 authored by Jeremy De ValckJeremy De Valck, Diane Jarvis, Anthea Coggan, Ella Schirru, Petina Pert, Victoria Graham, Maxine Newlands
What gets measured gets managed is an axiom common to the business world that also applies to the management of environmental assets and processes. But what is the most adequate way to measure ecosystem value to optimise ecosystem management? In this paper, we unpack three valuation frameworks often applied in understanding ecosystem services and their benefits: 1) the Ecosystem Services framework, operationalised by the United Nations System of Environmental Economic Accounting - Ecosystem Accounting (SEEA-EA) framework; 2) value-centric approaches operationalised by the Total Economic Value framework; and 3) First Nations Peoples (FNP) frameworks, which seek to capture values from FNPs’ perspective. By assessing the strengths and weaknesses of these value frameworks for managing the World’s largest reef ecosystem—the Australian Great Barrier Reef—we construct an extended SEEA-EA valuation framework tailored to complex coastal settings. The significance of our approach is the inclusion of the whole range of benefits from all coastal and marine uses and users and therefore the integration of non-market and FNP values into the more traditional market-based valuation approach. Assessments that jointly consider multiple values originating from these three different frameworks are more likely to produce sustainable management outcomes than more restrictive approaches.

Funding

Category 2 - Other Public Sector Grants Category

History

Volume

155

Start Page

1

End Page

14

Number of Pages

14

eISSN

1872-9460

ISSN

0308-597X

Publisher

Elsevier

Additional Rights

CC BY-NC 4.0 DEED

Language

en

Peer Reviewed

  • Yes

Open Access

  • Yes

Cultural Warning

This research output may contain the images, voices or names of Aboriginal and/or Torres Strait Islander or First Nations people now deceased. We apologize for any distress that may occur.

Acceptance Date

2023-07-03

External Author Affiliations

James Cook University; CSIRO

Author Research Institute

  • Centre for Regional Economics and Supply Chain (RESC)

Era Eligible

  • Yes

Journal

Marine Policy

Article Number

105761