A Handbook for Understanding Natural Capital - Earth Economics

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cosystem PARKS Parks provide tremendous benefits in the form of improved health for people and pets, revenues from tourism, higher property values for nearby residents, and community cohesion. Populated with trees and plants, natural systems like parks control greenhouse gases, improve air quality, regulate climate, and act as a haven for city dwellers who flock to parks to stay cool—a benefit that cannot be underestimated. Parks provide hiking trails, space for picnics, and countless opportunities for recreation and better community health. They allow young learners to deepen their understanding of and curiosity about science by providing a safe, natural environment in which they may explore. Parks in urban landscapes also give students ready access to nature that they might not otherwise have. In 2008, two Washington schools, Foss High School and Bellarmine Preparatory School, restored sections of the 59.58 acre Snake Lake Park by planting native vegetation. A 2012 study conducted by Earth Economics on Snake Lake Park estimated the economic value of the park’s combined ecosystem services at $330,250. If the park were to be restored to full health, the economic value would be $445,250. The school project not only contributed to the students’ scientific knowledge, it also improved the economic value of the park. As more people live in cities, the importance and value of parks increases. And yet budget cuts in natural resource and parks funding have resulted in parks being closed across the country. In May of 2011, the California Department of Parks and Recreation announced that it would be closing 70 of its 278 parks due to budget cuts that required a $33 million reduction by 2012-13. 13 Because the value of parks was never estimated in dollars, it was difficult to justify their protection. Recent studies have demonstrated that parks actually contribute tremendous value to society. In 2009 and 2010, the Trust for Public Land released studies on parks in Seattle, Washington, D.C., and New York showing these previously ignored benefits are worth hundreds of millions of dollars. Understanding the real economic value of parks is crucial for making well-informed policy decisions.
s in action MANGROVE FORESTS Mangroves are tropical trees and shrubs that grow in the coastal intertidal zone. Mangroves stabilize land against the erosive forces of the sea; they protect communities from devastating storms by acting as a buffer, lessening strong winds and reducing the threat of flooding. Healthy mangrove populations support rich food sources for humans including fish, shrimp, honey, sugar and fruits. These ecosystems capture and reuse nutrients that might otherwise pollute marine ecosystems, and their organic material supports a vast variety of marine life in complicated food webs. Most commercial seafood species depend on mangroves for at least some stage of their life cycle; estimates indicate this is true for up to 80% of species in Florida. Mangroves provide these benefits for free and over vast spans of time, continually renewed by solar energy. Yet mangroves are being actively removed at an alarming rate. Once covering three quarters of tropical coastlines, one third of mangrove forests have been wiped out over the past 50 years, with much of the loss occurring in the last two decades. In the Philippines, of the 400,000 hectares of mangroves recorded in 1918, barely ¼ still remain. Many of the remaining mangroves are degraded, with fewer species and thus reduced value. Aquaculture is also ecologically unsustainable: Following three to ten years of production, aquaculture operations typically succumb to disease, pollution and other problems, and are then abandoned. Ecuador, a global leader in aquaculture shrimp production in the 1980’s, saw its industry collapse in the 1990’s after mangrove clearing depleted post larval shrimp stocks used for feeding its ponds. Recent efforts to assess the financial value of mangroves have shown that this ecosystem may actually produce more seafood when intact than when converted to shrimp ponds. In 2009, a study conducted by Earth Economics on the mangrove ecosystems in the Philippines estimated that the net present value of healthy mangrove ecosystems is approximately four times greater than the net present value of shrimp aquaculture. A destroyed mangrove ecosystem is extremely difficult and expensive to restore. With both the aquaculture operation and the mangroves gone, the local people who depend on fish are left with none. The leading cause of mangrove loss is the clearing of trees to create ponds for shrimp and fish aquaculture, which is the practice of farming aquatic organisms such as fish and crustaceans in high density. Aquaculture is an important food source for a growing global population; however, it also pollutes local waters with sewage and spreads disease. By requiring the pumping of vast amounts of fresh groundwater, aquaculture often draws saltwater into coastal aquifers, damaging the water supply of local communities. 14
Page 1 and 2: WHAT IS YOUR PLANET WORTH A Handboo
Page 3 and 4: suggested citation Schrier, A. V.,
Page 5 and 6: Things are changing! Exciting metho
Page 7 and 8: BENEFITS OF A HEALTHY ECOSYSTEM Wha
Page 9 and 10: WHAT DO WE PAY FOR THESE SERVICES T
Page 11 and 12: SO WHAT’S THE PROBLEM As ecosyste
Page 13 and 14: Built Capital Natural Capital Defin
Page 15: s in action WATERSHEDS The federal
Page 21 and 22: MAKING A CASE FOR INVESTING IN ECOS
Page 23: Are Values of Ecosystem Services th
Page 26 and 27: Who uses Ecosystem Service Valuatio
Page 28 and 29: The Ecosystem Valuation Toolkit: St
Page 31 and 32: IS CALCULATING AN ECOSYSTEM’S VAL
Page 33: Creative Funding Concepts Engage th
Page 37 and 38: ABOUT EARTH ECONOMICS Since 1998, t
Page 39 and 40: Resource Primary Developer Descript
Page 41 and 42: CITATIONS 1 Vitousek, P., Ehrlich,
Page 43 and 44: IMAGE CITATIONS PAGE CITATION PAGE

A Handbook for Understanding Natural Capital - Earth Economics

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