The threat of a direct hit by Hurricane Joaquin prompted communities along the U.S. Eastern Seaboard from Florida to Maine to prepare for the worst. Whether this was a thousand-year event or a preview of more frequent extreme rainfall that has been projected as the climate changes, inland and coastal communities recognize the need to prepare for rising seas and increasingly wild weather.
Governments, businesses, development agencies, and NGOs are increasingly turning to economic valuation as a way to protect coral reefs and mangroves. This process makes the economic case for protection and sustainable use of natural resources by showing the monetary, employment, and infrastructure benefits ecosystems provide—metrics that are easily understood by decision-makers.
But not all economic valuations are created equal. WRI's new guidebook shows how NGOs and other stakeholders can conduct economic valuations in ways that lead to real change on the ground.
This guidebook details the steps in conducting a coastal ecosystem valuation to inform decision making in the Caribbean. It guides valuation practitioners—both economists and non-economists—through the three phases of a valuation effort (scoping, analysis and outreach), with an emphasis on...
This analysis includes a valuation of coral reef-associated fisheries, potential losses to tourism due to beach erosion, and examines the role of coral reefs in reducing coastal flooding during storms. In addition, we provide a literature review of 16 coral reef valuations conducted in Jamaica...
The economic benefits derived from coral reefs are vital to the economies of small island states in the Caribbean. Economic valuation of these benefits helps to guide the wise, sustainable use of these resources.