A review of non-market valuation studies of threatened species and ecological communities

Date: 19, Dec, 2017
Author(s):   Ram Pandit, Vandana Subroy, Stephen Garnett, Kerstin Zander, David Pannell
Publisher: NESP

Literature on non-market valuation (NMV) of threated species and threatened ecological communities was collated and reviewed. We reviewed 76 papers, of which seven were from Australia. There is strong evidence that the broader community does support and is willing to pay for protection and recovery of threatened species. In many cases, the estimated non-market values far exceed the expenditure that would be required to protect or recover the species. However, there are significant gaps in the literature, particularly for threatened reptiles, plants, insects and non-charismatic species. There are no NMV studies of threatened ecological communities. We identify cases where evidence about non-market values has had a notable impact on the management or funding of threatened species. There are many such cases. However, overall utilisation of NMVs in decision making about threatened species is low and there is great potential for benefits if its utilisation is increased. Barriers inhibiting such an increase include lack of awareness of economics in relevant organisations, lack of existing economics capacity in those organisations, the limited volume of existing evidence about NMVs for threatened species and ecological communities, and a lack of time and resources to undertake economic analysis. We make suggestions for future directions for research and capacity-building.

151214_NMV Threatened Species Report_full.compressed.pdf