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The economics of peatland restoration

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  • Klaus Glenk
  • Julia Martin-Ortega

Abstract

Restoration offers opportunities for securing and enhancing critical ecosystem services provided by peatlands, such as carbon storage, water retention and water quality, and support for biodiversity and wildlife. A comprehensive valuation encompassing the relevant public benefits of restoration and how these compare with it is lacking to date, leaving policy makers with little guidance with respect to the economic efficiency of restoring this climate-critical ecosystem. Using Scotland as a case study, this paper quantifies the non-market benefits of changes in peatland ecological condition associated with changes in ecosystem service provision and depending on the location of restoration efforts. Benefits on a per hectare basis are compared to varying capital and recurrent cost in a net present value space, providing a benchmark to be used in decision making on investments into peatland restoration. The findings suggest that peatland restoration is likely to be welfare enhancing. Benefits also exceed cost in appraisals of previous and future public investments into peatland restoration. The results thus strengthen the economic rationale for climate change mitigation through improved peatland management.

Suggested Citation

  • Klaus Glenk & Julia Martin-Ortega, 2018. "The economics of peatland restoration," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 7(4), pages 345-362, October.
    • Handle: RePEc:taf:teepxx:v:7:y:2018:i:4:p:345-362
    DOI: 10.1080/21606544.2018.1434562
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    Citations

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    Cited by:

    1. Faccioli, Michela & Czajkowski, Mikołaj & Glenk, Klaus & Martin-Ortega, Julia, 2020. "Environmental attitudes and place identity as determinants of preferences for ecosystem services," Ecological Economics, Elsevier, vol. 174(C).
    2. Juutinen, Artti & Tolvanen, Anne & Saarimaa, Miia & Ojanen, Paavo & Sarkkola, Sakari & Ahtikoski, Anssi & Haikarainen, Soili & Karhu, Jouni & Haara, Arto & Nieminen, Mika & Penttilä, Timo & Nousiainen, 2020. "Cost-effective land-use options of drained peatlands– integrated biophysical-economic modeling approach," Ecological Economics, Elsevier, vol. 175(C).
    3. Peacock, R. & Bently, M. & Rees, P. & Blignaut, J.N., 2023. "The benefits of ecological restoration exceed its cost in South Africa: An evidence-based approach," Ecosystem Services, Elsevier, vol. 61(C).
    4. Michela Faccioli & Mikołaj Czajkowski & Klaus Glenk & Julia Martin-Ortega, 2018. "Environmental attitudes and place identity as simultaneous determinants of preferences for environmental goods," Working Papers 2018-08, Faculty of Economic Sciences, University of Warsaw.
    5. Klaus Glenk & Robert J. Johnston & Jürgen Meyerhoff & Julian Sagebiel, 2020. "Spatial Dimensions of Stated Preference Valuation in Environmental and Resource Economics: Methods, Trends and Challenges," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(2), pages 215-242, February.
    6. Hynes, Stephen & Chen, Wenting & Vondolia, Kofi & Armstrong, Claire & O'Connor, Eamonn, 2021. "Valuing the ecosystem service benefits from kelp forest restoration: A choice experiment from Norway," Ecological Economics, Elsevier, vol. 179(C).
    7. Nur Arifatul Ulya & Edwin Martin & Mamat Rahmat & Bambang Tejo Premono & Leo Rio Ependi Malau & Efendi Agus Waluyo & Andika Imanullah & Abdul Hakim Lukman & Asmaliyah & Armansyah & Dani Saputra & Etik, 2022. "Enabling Factors of NTFP Business Development for Ecosystem Restoration: The Case of Tamanu Oil in Indonesian Degraded Peatland," Sustainability, MDPI, vol. 14(17), pages 1-26, August.
    8. Januar, Rizky & Sari, Eli Nur Nirmala & Putra, Surahman, 2023. "Economic case for sustainable peatland management: A case study in Kahayan-Sebangau Peat Hydrological Unit, Central Kalimantan, Indonesia," Land Use Policy, Elsevier, vol. 131(C).
    9. Martino, Simone & Kenter, Jasper O. & Albers, Nora & Whittingham, Mark J. & Young, Dylan M. & Pearce-Higgins, James W. & Martin-Ortega, Julia & Glenk, Klaus & Reed, Mark S., 2022. "Trade-offs between the natural environment and recreational infrastructure: A case study about peatlands under different management scenarios," Land Use Policy, Elsevier, vol. 123(C).
    10. Zawojska, Ewa & Gastineau, Pascal & Mahieu, Pierre-Alexandre & Cheze, Benoit & Paris, Anthony, 2021. "Measuring policy consequentiality perceptions in stated preference surveys," 2021 Annual Meeting, August 1-3, Austin, Texas 313977, Agricultural and Applied Economics Association.
    11. Hynes, Stephen & Chen, Wenting & Vondolia, Kofi & Armstrong, Claire & O’Connor, Eamonn, 2020. "Valuing the Ecosystem Service Benefits from Kelp Forest Restoration: A Choice Experiment," Working Papers 309505, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    12. Martin-Ortega, Julia & Young, Dylan M. & Glenk, Klaus & Baird, Andy J. & Jones, Laurence & Rowe, Edwin C. & Evans, Chris D. & Dallimer, Martin & Reed, Mark S., 2021. "Linking ecosystem changes to their social outcomes: Lost in translation," Ecosystem Services, Elsevier, vol. 50(C).
    13. Edward B. Barbier, 2022. "The Policy Implications of the Dasgupta Review: Land Use Change and Biodiversity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(4), pages 911-935, December.
    14. Tomas Badura & Silvia Ferrini & Michael Burton & Amy Binner & Ian J. Bateman, 2020. "Using Individualised Choice Maps to Capture the Spatial Dimensions of Value Within Choice Experiments," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(2), pages 297-322, February.
    15. Glenk, Klaus & Meyerhoff, Jürgen & Akaichi, Faical & Martin-Ortega, Julia, 2019. "Revisiting cost vector effects in discrete choice experiments," Resource and Energy Economics, Elsevier, vol. 57(C), pages 135-155.
    16. Mariel, Petr & Artabe, Alaitz, 2020. "Interpreting correlated random parameters in choice experiments," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).

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