1. Benefit transfer and the economic value of Biocapacity: Introducing the ecosystem service Yield factor
- Author
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Nadia Marchettini, Luca Coscieme, and Valentina Niccolucci
- Subjects
Natural resource economics ,Yield (finance) ,Geography, Planning and Development ,0211 other engineering and technologies ,02 engineering and technology ,010501 environmental sciences ,Management, Monitoring, Policy and Law ,01 natural sciences ,Nature's Contributions to People (NCPs) ,Ecosystem services ,Ecological Economics ,Natural capital ,Economics ,Natural resource management ,Productivity ,0105 earth and related environmental sciences ,Nature and Landscape Conservation ,Global and Planetary Change ,Ecological economics ,Ecological footprint ,Ecology ,Biocapacity Economic Value (BEV) ,Value Transfer ,021107 urban & regional planning ,Ecological Footprint ,15. Life on land ,Agricultural and Biological Sciences (miscellaneous) ,13. Climate action ,Biocapacity - Abstract
The Ecological Footprint can inform benefit transfer estimates of ecosystem services by considering the different productivity of land-types. In this paper, ecosystem service values are used to calculate Ecosystem Service Yield Factors (ES-YFs) for the world countries as monetary-based alternative to resource-based Yield Factors (YFs). These scaling factors are context-dependent and can be used for transferring ecosystem service values calculated in different locations for cropland, grazing land and forest. The ES-YFs were further used to calculate Biocapacity Economic Values (BEVs) that represent natural capital values and can be used for environmental economic accounting and as a component of wellbeing indicators. Besides improving the accuracy and feasibility of the benefit transfer method, the ES-YFs can inform natural resource management towards more sustainable options and allows for comparison with economic values in markets sensible to asymmetry, incomplete information, unfairness and unethical behaviours.
- Published
- 2021
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