Ecosystem Service Valuation, Market-Based Instruments, and Sustainable Forest Management: A Primer
(2010) State of Knowledge Primer, Sustainable Forest Management Network, 5
30 Pages Posted: 23 Mar 2014
Date Written: 2010
The literature that supports assigning economic value to ecosystem services (ES) has been identified as a topic for discussion. The challenges of economic valuation is a pressing issue, yet the knowledge and barriers associated with them are of equal significance. Specific policy mechanisms that may be used for ES provision are examined in this work. It is also acknowledged that legal and constitutional challenges create obstacles in moving forward toward market-based policies. Furthermore, the challenges touch upon political controversies, and explore details regarding tradable disturbance permits and carbon offsets.
Keywords: ecosystem services, ecosystem valuation, hedonic methods, natural capital, replacement costs.
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