Valuing nature: From environmental impacts to natural capital

Oyarzún, Diego Azqueta; Salem, Daniel Sotelsek

doi:10.1016/j.ecolecon.2007.02.029

Cited by 45 publications

(27 citation statements)

References 17 publications

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“…The monetary value of biodiversity services and carbon sequestration associated with each land-use system was estimated following Pagiola et al (2004) and Pagiola et al (2007). While estimation of carbon sequestration is relatively straightforward (Huang & Kronrad, 2001;Olschewski & Benítez, 2005;Zbinden & Lee, 2005;Azqueta & Sotelsek, 2007), approximating the economic value of biodiversity is extremely difficult (Pagiola et al 2004, Jackson et al 2007Nijkamp et al 2008). Realizing the difficulties, Pagiola et al (2004) developed an index of biodiversity for different land uses that ranges from 0 to 1, with 0 for annual crops (e.g., grains, tubers) and 1 for primary forest.…”

Section: Estimation Of Carbon Sequestration and Biodiversity Servicesmentioning

confidence: 99%

“…Although several recent attempts have been made to evaluate alternative land-use practices, the focus has remained narrowly centered on specific aspects (Engel et al 2007). While some studies focus on the economic valuation of soil conservation of alternative agricultural practices (e.g., Rasul & Thapa, 2006;MartaPedroso et al 2007), others consider carbon emission/sequestration (Kremen et al 2000;Huang & Kronrad, 2001;Olschewski & Benítez, 2005;Zbinden & Lee, 2005;Azqueta & Sotelsek 2007;Tschakert, 2007). Additionally, a few scholars over the last several years have carried out economic valuations of biodiversity conservation (Ninan & Sathyapalan, 2005, Jackson et al 2007).…”

Section: Introductionmentioning

confidence: 99%

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Ecosystem services and agricultural land-use practices: a case study of the Chittagong Hill Tracts of Bangladesh

Rasul

2009

Sustainability: Science, Practice and Policy

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Land degradation due to inappropriate agricultural activities, as well as the environmental and social effects associated with these practices, is accelerating in many developing regions of the world. This trend underlines the importance of measuring environmental costs and benefits to improve policy making with respect to land use and agriculture. Using nonmarket valuation techniques, this article estimates the value of environmental services associated with four agricultural land-use systems in the Chittagong Hill Tracts of Bangladesh and compares their relative profitability from private and social perspectives. The financial analysis reveals that annual cash crops are the most profitable shortterm land use and agroforestry is the least profitable, with horticulture and farm forestry providing benefits intermediate between these two systems. However, the relatively larger returns from annual cash cropping lead to higher environmental costs such as soil erosion, forfeited carbon sequestration, and biodiversity loss. When the environmental costs are taken into account, annual cash crops appear to be the most costly land-use system, with agroforestry and farm forestry becoming more profitable. The findings demonstrate the tradeoffs and synergies between relatively more environmentally sustainable and harmful land-use practices. Financial incentives to encourage more prudent agricultural activities are needed to transform tradeoffs into synergies. This article examines different financial incentive mechanisms-including payments for environmental services-and makes several policy recommendations.

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Section: Estimation Of Carbon Sequestration and Biodiversity Servicesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Ecosystem services and agricultural land-use practices: a case study of the Chittagong Hill Tracts of Bangladesh

Rasul

2009

Sustainability: Science, Practice and Policy

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“…Within the framework of welfare economics, the criteria commonly used are Pareto criterion. However, this criterion is deemed not very useful because it is often not met in practice and therefore need to be relaxed into test compensation (Bishop et al 2008).…”

Section: Definitionmentioning

confidence: 99%

Total Economic Value in Investment Analysis

Soedomo¹

2013

jtfm

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“…Alternatively, Bateman, Georgiou and Lake (2005) develop an approach to value aggregate natural resources via estimating a spatially sensitive value function that predicts a declining value for a natural resource as households' distance from it increases. Azqueta and Sotelsek (2007) argue that economic valuations of environmental assets are currently well established.…”

Section: Integrating the Qualitative-analytical Approaches Towards A mentioning

confidence: 99%

A theoretical essay on sustainability and environmentally balanced output growth: natural capital, constrained depletion of resources and pollution generation

Sena

2009

BAR, Braz. Adm. Rev.

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The fact that today's activities are imposing a heavy burden on the earth's capacity has led to an increasing interest in environmental issues. It is emphasized that rapid production growth has exhausted natural resources and polluted the environment. The objective of this essay is to offer a clear definition of natural capital, connect it to a qualitative concept of sustainability and, supported by two analytical models and a set of studies on related environmental literature, to show that sustainability can be attained via imposition of controls over production processes that use depletable natural resources and generate pollution. The methodology used contemplates an integrative approach combining a qualitative (seeking definitions)-analytical (appraising models) apparatus to reach a new conceptual perspective to conceive sustainability. As the main essay's contribution, it is showed that sustainability can be reached if compensation is allowed for, i.e., stocks of renewable being augmented as production depletes the stocks of nonrenewable natural resources. Moreover, that result is possible even considering nondecreasing output production, an important finding to contrast with the current environmentally based output growth literature, which asserts that slowing down output production is the only way to obtain sustainability.

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Valuing nature: From environmental impacts to natural capital

Cited by 45 publications

References 17 publications

Ecosystem services and agricultural land-use practices: a case study of the Chittagong Hill Tracts of Bangladesh

Ecosystem services and agricultural land-use practices: a case study of the Chittagong Hill Tracts of Bangladesh

Total Economic Value in Investment Analysis

A theoretical essay on sustainability and environmentally balanced output growth: natural capital, constrained depletion of resources and pollution generation

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