Coastal Capital: Economic Valuation of Coastal Ecosystems in the Caribbean
Supporting the sustainable management of coral reefs and mangroves by quantifying their economic value.
The Coastal Capital series was launched in 2005 and aims to provide decision-makers in the Caribbean with information and tools that link the health of coastal ecosystems with the attainment of economic and social goals. WRI and its local partners have conducted economic valuation studies of coral reefs and mangroves at national and subnational levels in five countries: Trinidad and Tobago, St. Lucia, Belize, the Dominican Republic and Jamaica. We are using the results to identify and build support for policies that help to ensure healthy coastal ecosystems and sustainable economies.
Coming soon: Building on these studies, WRI is now working with a broad partnership to develop a guidebook that details the main steps in conducting a policy-focused economic valuation of coastal ecosystems in the Caribbean. The guidebook will lead practitioners through the scoping, analysis, and influence phases of a policy-focused valuation effort, using best practices gleaned from our recent review of previous coastal valuation studies in the region. Our goal is for this guidebook to help future coastal valuations in the Caribbean to be more influential in policy, management and investment decisions—ultimately helping to safeguard these resources for generations to come.
Photo Credit: Tadzio Bervoets, Nature Foundation St. Maarten.