You are here

coral reefs

Making Economic Valuation Count for Coastal Ecosystems in the Caribbean

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.

Coastal Capital: Ecosystem Valuation for Decision Making in the Caribbean

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...

Does Economic Valuation Really Influence Coastal Policy?

Governments, corporations, and development agencies are increasingly interested in putting a dollar value on ecosystems in order to balance conservation and development needs, a concept known as “economic valuation.” For example, St. Maarten’s government recently established the country’s first marine national park after a local organization found that the area’s coastal ecosystems contribute $58 million per year through tourism and fisheries. Belize enacted a host of new fishing regulations based on a WRI valuation, which found that coral reef- and mangrove-associated tourism contributes $150 million-$196 million per year to the country’s economy. And in Bonaire, park managers used economic valuation to justify the Bonaire Marine Park’s establishment of user fees—making it one of the few self-financed marine parks in the Caribbean.

These stories show that economic valuation can indeed lead to better coastal policy, conserving these ecosystems and securing their important economic contributions. However, according to new WRI research, these cases tend to be the exception in the Caribbean.

Economic Valuation and Coastal Policy in the Caribbean

In the Caribbean, there is keen interest in economic valuation of coastal ecosystems to inform policy and improve natural resource management. But while the literature on the value of coral reefs and mangroves in the Caribbean continues to grow, these ecosystems continue to decline.

WRI and the Marine Ecosystem Services Partnership (MESP) took a closer look at the impact of previous economic valuation studies in the Caribbean. Out of more than 200 studies of the economic value of the Caribbean’s marine ecosystem goods and services, we were only able to identify 13 that actually influenced marine and coastal management policies, such as those in Bonaire, St. Maarten, and Belize.

Influence of Coastal Economic Valuations in the Caribbean

Enabling Conditions and Lessons Learned

This paper assesses the policy influence of previous coastal ecosystem economic valuations in the Caribbean and identifies the key “enabling conditions” for valuations to influence policy, management, or investment decisions. These findings will inform WRI's and our partners’ efforts to...

Indonesia’s President Yudhoyono: Meeting Today’s Economic and Environmental Challenges by “Valuing Nature”

WRI co-hosted a dinner last week to honor Indonesia’s President Susilo Bambang Yudhoyono for advancing sustainability, especially in the Coral Triangle. The event took place at the Mandarin Oriental Hotel in New York City, where more than 300 guests from government, business, and the non-profit sector gathered to recognize Indonesia’s president.

WRI’s president, Andrew Steer, opened the event by reminding guests that President Yudhoyono is a “different kind of leader.” Earlier in his career, Steer spent eight years in Indonesia, and he’s seen firsthand how the country has approached its economic and environmental challenges.

“We live in perilous times,” Steer said. “We need innovative thinking and we need out-of-the-box thinking. Today, we have a leader who is an out-of-the-box leader.”

Slideshow: New Report Reveals Threats to Reefs in the Coral Triangle

The Coral Triangle, an area stretching from southeast Asia to the edge of the western Pacific, is one of the most biologically diverse marine regions on earth. The area holds 30 percent of the world’s coral reefs and 75 percent of all known coral species. The region’s coral reefs provide food and livelihoods to more than 130 million people living within the Coral Triangle, as well to millions more worldwide.

Despite its importance, the Coral Triangle is the most endangered coral region on earth, with 85 percent of its reefs threatened by local activities like overfishing and destructive fishing, coastal development, and pollution. WRI and partners recently released a new report documenting this situation, Reefs at Risk Revisited in the Coral Triangle. The report provides both a region-wide and country-level perspective on the status of and threats to coral reefs off the coasts of Indonesia, Malaysia, Papua New Guinea, the Philippines, Solomon Islands, and Timor-Leste. It also calls attention to the vulnerability of coral reefs in the Coral Triangle and factors leading to degradation and loss. The report aims to set priorities for management of reefs in the region.

This slideshow highlights images from the Reefs at Risk Revisited in the Coral Triangle report. Scroll through the photos and maps to learn more about the value coral reefs have for countries in the Coral Triangle, the threats reefs face, and actions that can help protect these vital ecosystems.

Pages

Stay Connected

Sign up for our newsletters

Get the latest commentary, upcoming events, publications, maps and data. Sign up for the biweekly WRI Digest.