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Economic Valuation of Forest Ecosystem Services: Methodology and Monetary Estimates

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Author Info

  • Aline Chiabai

    (Fondazione Eni Enrico Mattei)

  • C. M. Travisi

    (Fondazione Eni Enrico Mattei)

  • H. Ding

    (FEEM, and School for Advanced Studies in Venice Foundation, University of Venice)

  • A. Markandya

    (Basque Centre for Climate Change BC3 and University of Bath)

  • P.A.L.D Nunes

    (FEEM and School for Advanced Studies in Venice Foundation, University of Venice)

Abstract

By using ad hoc value transfer protocols, this paper offers a methodological contribution and provides accurate per hectare estimates of the economic value of some selected ecosystem services for all forest biomes in the world, identified following the Millennium Ecosystem Assessment taxonomy MEA. The research also estimates potential total economic losses from policy inaction in year 2050. Final results show that total losses are significant. The total figure is €78 billion, the greatest losses coming from North America and Mexico, followed by Africa, Russia and some Asiatic countries. Most of this loss is attributable to provisioning services and carbon sequestration, while only a minor part is due to loss of cultural services. In terms of biomes the greatest losses are from boreal and warm mixed forests, followed by tropical forests. These results may be surprising to some who argue that it is the loss of tropical forests, particularly the Amazon, that is the most significant. A detailed analysis, shows, however, that this is not the case. The best estimates point to greater losses in areas where use and non-use values are highest, which includes North America.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2009.12.

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Date of creation: Feb 2009
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Handle: RePEc:fem:femwpa:2009.12

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Keywords: Forest; Ecosystem Services; Biodiversity; Valuation; Value Transfer;

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Cited by:
  1. Howard, Peter H., 2012. "Climate Change, Vegetation, and Welfare: Estimating the Welfare Loss to Landowners of Marginal Shifts in Blue Oak Habitat," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124744, Agricultural and Applied Economics Association.

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