Valuing environmental damage and restoration options

THE BACKGROUND

Our valuation experts conducted technical field studies to document natural resource injuries in Rivers State, Southern Nigeria (Niger Delta region). We investigated oil spills remaining untreated or only partially remediated. Additionally, we applied economic methods were used to translate changes in natural resource services into monetary measures of damages.

THE PROJECT

The International Ocean Institute and BirdLife’s aim was to assess the socio-economic importance of the areas beyond national jurisdiction (ABNJ) in the Southeast Atlantic region and to quantify the actual and potential social and economic outcomes (costs and benefits) associated with the conservation and use (exploitation) of marine resources. FINANCE FOR IMPACT provided a comprehensive cost-benefit analysis of the potential social and economic outcomes associated with the conservation and exploitation of marine resources in areas beyond national jurisdiction. The assessment team applied the ecosystem services concept to characterize socio-economic interests and the importance of biodiversity conservation in high seas.

THE RESULTS

We developed credible and evidenced-based models for assessing environmental damages, natural capital, and associated ecosystem services. We defined and scaled restoration options, assessed their cost effectiveness, and discussed potential environmental offset measures.