What's Bonaire's nature worth? 2011-2012
This Initiative draws attention to the economic benefits of biodiversity and highlights the growing costs of biodiversity loss and ecosystem degradation. Insight in the value of ecosystems and biodiversity can support decision makers to make wise and inclusive decisions for long-term sustainable economic development.
Information on the Total Economic Value (TEV) of Bonaire’s nature is used to build a strategy to advocate for the effective conservation measures on Bonaire. The TEV is the sum of the ecosystem services provided by the marine and terrestrial ecosystems of Bonaire. In total, more than 10 different services have been valued on monetary terms. The most relevant services that were estimated in extensive sub-studies include the following:
- Local cultural and recreational values
- International tourism value
- Fisheries values
- Non-use value
- Coastal protection value
- Functional Valuation of Ecosystem Services on Bonaire
Through the use of simulation models, scenario development and cost & benefit analysis the efficacy of various interventions is determined. Cost-benefit analysis of different scenarios provides an objective means of deciding which interventions produces the highest yield. Such an integral approach ultimately ensures the betterment of Bonaire’s environment while at the same time warranting sustainable economic development.