Towards a ‘total economic value’ of coastal marine ecosystem services in Nelson Bays, Nelson Tasman region, New Zealand
Ecosystem services underpin all market economic activity and yet their contribution to human welfare often goes unnoticed because of the difficulties associated with measurement in monetary units of account. Over the last two and half decades, efforts have been made to address thisproblem. The emergence of the ‘ecosystem services’ metaphor as a tool for aiding markets andlocal communities to reconnect with their ‘primal’ dependency on ecosystems has been linked with rapid developments in valuation method. Since the ground-breaking publication of Costanzaet al., (1997) that attempted to value (in monetary terms) the annual contribution of global ecosystems to global GDP, the same valuation methods have been applied and enhanced in studies around the globe. The emergence of the ‘Millennium Ecosystem Assessment’ (MEA) of global ecosystem wellbeing and more recently ‘The Economics of Ecosystems and Biodiversity’ (TEEB) study have succeeded in drawing the attention of the international community to global ecosystem wellbeing and extending the theory and methods employed in earlier ecosystem services valuation activities. Despite all of these contributions, scientists continue to hold and express grave concerns about the wellbeing of global ecosystems. Furthermore, while much has been achieved in the development of ecosystem services valuation method, this area of research remains an imprecise science, challenged by: computational problems, issues of method dependency, scarcity of critically important non-market valuation data and uncertainty.
Reference and download link
Cole, A. O. me ōna tūpuna, Clark, D. and Patterson M. G. (2014) Towards a ‘total economic value’ of coastal marine ecosystem services in Nelson Bays, Nelson Tasman region, New Zealand. Kōrero Māori report 2, (pp. 169). Tauranga, New Zealand: iPansophy Limited Digital Publishing. [Download]