Economic Value of The Conservation Foundation’s 33,000 Acres of Preserved Land – Executive Summary
Those that do not look deep into nature may not see value in its preservation. However, recent work has explored the economic impact of the goods and services, or ecosystem services (ESS), that nature freely provides. Unfortunately, it is because ESS are “free”, e.g. one cannot derive a direct profit or cost off of their functionalities, development decisions do not factor in the economic ramifications of environmental degradation. This economic invisibility limits the urgency placed on protecting nature and has resulted in the destruction and degradation of natural areas, in turn imposing an unrecognized cost on society. In an attempt to combat this economic distortion and consequently promote future preservation initiatives, The Conservation Foundation (TCF) has valued the annual economic impact of the ESS provided by the approximately 33,000 acres that it has helped preserve at $210,273,428.83. This paper will explain why it was necessary to value natural areas, provide a high-level explanation of ESS, and discuss the valuation techniques used.
Click on this link below for the executive summary.
33,000 acres White Paper Summary
