The role of economic valuation and appraisal in marine policy making

There is now high-level recognition that the UN Sustainable Development Goals can only be achieved if the decline of ecosystems and biodiversity can be halted and reversed. This will require effective control of ongoing pressures, meaningful protection and enforcement of protected areas, and significant investments in ecosystem restoration. This research explores the possible use of economic valuation and appraisal in achieving these goals in marine systems, and discusses the European marine policy instruments where they should have an important role. It addresses the research question: “Does valuation evidence help decision makers to take full account of environmental factors, and does this result in better decisions about trade-offs?”  A critique of the tools and use of economic valuation and appraisal for marine environment decision making is presented and conclusions are drawn for European policy.

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