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Valuation of Marine Ecosystems and Sustainable Development Goals

Author

Listed:
  • Phoebe Koundouri
  • George Halkos
  • Conrad Landis
  • Konstantinos Dellis
  • Artemis Stratopoulou
  • Angelos Plataniotis
  • Elisa Chioattoa

Abstract

This paper refers to the valuation of European, Marine and Fresh Water Ecosystem Services. Using a meta-regression approach, we estimate the Annual Willingness to Pay (WTP) for several classifications of the ecosystem services and various biogeographical and marine regions across all twenty-seven EU markets. Moreover, we explore the correlation between WTP and the national level of achievement of the 17 SDGs, with particular focus on SDG 14 - Life Below Water. Results indicate that regulating services of marine and freshwater ecosystems are ranked high and that in almost 63% of the European countries, the WTP for the improvement of the marine & freshwater ecosystem is high and exceeds estimates for terrestrial ecosystems. Valuing ecosystem services and link them to the Sustainable Development Goals, we find that marine ecosystems are mainly positively correlated to SDGs 2,12,13, 14 and 17, while a high MWTP value is assigned to specific SDG14 individual indicators like fish caught from overexploited or collapsed stocks and fish caught that are then discarded. Overall, results indicate that societies attributing greater value to ecosystem services mark greater progress towards the implementation of SDGs and SDG 14 in particular.

Suggested Citation

  • Phoebe Koundouri & George Halkos & Conrad Landis & Konstantinos Dellis & Artemis Stratopoulou & Angelos Plataniotis & Elisa Chioattoa, 2023. "Valuation of Marine Ecosystems and Sustainable Development Goals," DEOS Working Papers 2308, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:2308
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    File URL: http://wpa.deos.aueb.gr/docs/2023.EV.SDG14.160323.pdf
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    References listed on IDEAS

    as
    1. Stella Apostolaki & Ebun Akinsete & Phoebe Koundouri & Panagiotis Samartzis, 2019. "Freshwater: The importance of freshwater for providing ecosystem services," DEOS Working Papers 1905, Athens University of Economics and Business.
    2. Achilleas Vassilopoulos & Phoebe Koundouri, 2017. "Valuation of Marine Ecosystems," DEOS Working Papers 1714, Athens University of Economics and Business.
    3. Chan, Kai M.A. & Satterfield, Terre & Goldstein, Joshua, 2012. "Rethinking ecosystem services to better address and navigate cultural values," Ecological Economics, Elsevier, vol. 74(C), pages 8-18.
    4. Kyriaki Remoundou & Phoebe Koundouri & Areti Kontogianni & Paulo Nunes & Michalis Skourtos, 2009. "Valuation of natural marine ecosystems: an economic perspective," DEOS Working Papers 0906, Athens University of Economics and Business.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Halkos, George E & Aslanidis, Panagiotis-Stavros & Landis, Conrad & Papadaki, Lydia & Koundouri, Phoebe, 2024. "A review on primary and cascading hazards by exploring individuals’ willingness-to-pay for urban sustainability policies," MPRA Paper 122262, University Library of Munich, Germany.
    2. Halkos, George & Zisiadou, Argyro & Aslanidis, Panagiotis-Stavros & Koundouri, Phoebe, 2024. "Valuation of Marine Ecosystem Services in the Black Sea," MPRA Paper 121733, University Library of Munich, Germany.
    3. Phoebe Koundouri & George Halkos & Conrad Landis & Angelos Alamanos, 2023. "Ecosystem Services Valuation for supporting Sustainable Life Below Water," DEOS Working Papers 2316, Athens University of Economics and Business.

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    More about this item

    Keywords

    Valuation; Sustainable Development Goals; Ecosystem Services; Meta-Regression; Marine; Freshwater;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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