• Biological diversity

Biological diversity (CBD)

This guide aims to assist Ramsar-Convention stakeholders in having economic valuation information better available for decision-making on wetlands. The report outlines a framework which should assist readers to conduct an integrated assessment of wetland ecosystem services, and it sets out five key steps in undertaking a wetland valuation assessment. These are:

• analysis of policy processes and management objectives (why undertake the valuation?)
• stakeholder analysis and involvement (who should do the valuation, and for whom?)
• function analysis (identification & quantification of services) (what should be valued?)
• valuation of services (how to undertake the valuation?)
• communicating wetland values (to whom to provide the assessment results?)

Subsequent sections provide more detailed guidance on undertaking each of these steps and methods for their application. The guidance offered is supplemented by case studies from around the world of where different aspects of wetland valuation have supported decision-making. More and better information on the socio-cultural and economic benefits of ecosystem services is needed to:

• demonstrate the contribution of wetlands to the local, national and global economy. This will thus help build local and political support for their conservation and sustainable use
• convince decision-makers that the benefits of conservation and sustainable use of wetlands usually outweigh the costs and explain the need to better factor wetlands into development planning by using more balanced cost-benefit analyses
• identify the users and beneficiaries of wetland services to attract investments and secure sustainable financial streams and incentives for the maintenance, or restoration, of these services
• increase awareness about the many benefits of wetlands to human well-being and ensure that wetlands are better taken into account in economic welfare indicators and pricing mechanisms.

[adapted from author]

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