7 ECONOMICAND FINANCIAL ASPECTS
THEHANDBOOK FORMANAGEMENT
ANDRESTORATIONOF AQUATIC ECOSYSTEMS INRIVERAND LAKE BASINS
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7.1.7Monetization of services provided bywetlands
Different methods have been used to translate the goods and services of wetlands
intomonetary values:
➊
Methods that determine the value of awetland (ormore often of one of its functions)
from the costs that would be involved if it disappeared or if its functioningwere altered,
using either the costs avoidedmethod, the substitute cost method, or the replacement
costsmethod. Thesemethods have been used for services likewater purification, flood
control, and climate regulation (especially carbon storage in peatland);
➋
The benefit transfermethod, which uses results from similar studies to estimate the
value of thewetland concerned, has occasionally been used to evaluate the education
and research service;
➌
Methods that identify the value of awetland (or one of its functions) using a fictive
substitutemarket (joint analysismethod or experimental choices) consider themost
diverse range of values (usage and non-usage).
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Example 40: Bessin and CotentinRegional Natural Park (RNP)
Themethodology employed involves three stages:
n
Understand the functioning and dynamics of wetlands on the RNP site;
n
Individually estimating themonetary value of ecosystem goods and services on the study
site by applying different economic evaluationmethods. In particular, a joint analysis has
been developed to identify the non-usage value associated with wetlands and their
biodiversity;
n
Estimate the total economic value of wetlands on the RNP site bymaking a reasoned
aggregation of the individual economic values obtained by each service and put into
perspective the results obtained. This third stage also provides keys to understanding the
reliability of the transfer of values and identifying the conditions necessary for using the
values.
The information and knowledge employed in these three stages were obtained from:
➊
A literature review;
➋
Interviews with key stakeholders on the RNP site;
➌
Focus groups with inhabitants involved in the site;
➍
Aworkshop for pooling and validating the results at the half-way stage.
