‘How Much Is Our Environment Worth? October 9, 2015
Posted by OromianEconomist in Uncategorized.Tags: Environment, Forest fire in Oromia
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Yaayyuu forest
Economic benefits of ecosystems extend far beyond exploiting them for resources
The true value of the planet’s ecosystems is frequently misrepresented, if not invisible, in markets and economic decision-making. But the real economies that underpin our societies are themselves fundamentally rooted in the natural world. In a forest, the value of timber can be significant and obvious on the open market. But the capacity of the forest to prevent soil erosion in surrounding agricultural land is not so easily or readily accounted for. A mangrove swamp is an important and valuable barricade against storms. But its capacity to sequester carbon and help prevent climate change goes unappreciated in economic terms. Grasslands can be an economic foundation of communities, both for their arable land and as a draw for wildlife-based tourism. But what of their function as a water catchment, offering strategic ability to manage this resource? Without awareness of the true value of these ecosystem services, and how GDP depends on the health of ecosystems, we are bound to continue to exploit them in an unsustainable way.’
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