Recognizing the importance of economic valuation of coral reef and associated ecosystems such as mangroves and seagrasses, the International Coral Reef Initiative (ICRI) established an Ad Hoc Committee on Economic Valuation of Coral Reef Ecosystems in January 2008 (21st General Meeting, Washington). The Committee was originally co-chaired by Mexico, the United States, the World Resources Institute (WRI) and the ICRI Secretariat; it is now being chaired by the ICRI Secretariat assisted by CRIOBE-France (Nicolas Pascal).
The objectives of the committee are:
- to increase public investment in coral reef management through better awareness of the societal benefits produced by coral reefs and their positive economic return as a public investment
- to encourage countries to integrate coral reef sustainable funding mechanisms (such as, but not limited to, offsets, biodiversity banking, credit stacking, conservation concessions etc.) in their national laws
- to provide advice to countries wishing to set up a framework to encourage private funding for coastal management.
Activities & achievements
The Committee’s achievements so far have included the compilation of an inventory of studies, articles and publications on coral reef valuation, led by the WRI and the creation of an online valuation library, led by Marine Ecosystems Services Partnership (MESP). The Committee has been extended several times and new Terms of Reference were adopted at ICRI’s 28th General Meeting in October 2013. An implementation plan for the ToRs has been developed.
ICRI member the World Resources Institute (WRI) released a guidebook in March 2014 called Coastal Capital: Ecosystem Valuation for Decision Making in the Caribbean to help make coastal valuations more influential. This guidebook is intended for economic valuation practitioners—both economists and non-economists—who would like to conduct coastal ecosystem valuation to achieve influence and inform real-world decisions.
Terms of Reference
ICRI’s AHC on Economic Valuation of Coral Reef Ecosystems:
- Amended Terms of Reference for the ICRI Ad Hoc Committee on Economic Valuation of Coral Reefs Ecosystems (October 2013) and implementation plan
- Terms of Reference July 2008 (now expired)
- Initial Terms of Reference (January 2008)
Other ICRI Documents related to this AHC
- Implementation plan (February 2014) for the Amended Terms of Reference for the ICRI Ad Hoc Committee on Economic Valuation of Coral Reefs Ecosystems (October 2013)
- Resolution on the activities of the Ad Hoc Committee on Economic Valuation (GM27)
- Report on the AHC on Economic Valuation (GM27)
- Report of the AHC on Economic Valuation (GM26)
- Report of the AHC on Economic Valuation (GM25)
- Report of the AHC on Economic Valuation (GM24)
- ICRI GM 23: Cover letter for the proposal & Proposal: Coral Reef Economics Community of Practice (Coral CoP)
- Report of the AHC on Economic Valuation (GM22)
- Economic valuation of coral reefs in the Caribbean region - Presentation (GM24)
- Decision on Determining the Economic Value of Coral Reefs to User Communities (GM11)
- Coastal Capital: Ecosystem Valuation for Decision Making in the Caribbean
- The true value of South Pacific Reefs - 2012
- Economic Values of Coral Reefs, Mangroves, and Seagrasses - A Global Compilation (Conservation International, 2008)
- In the front line: shoreline protection and other ecosystem services from mangroves and coral reefs (UNEP-WCMC, 2006)
- GCRMN Socioeconomic manual for coral reef management (GCRMN, 2000)
- Coral Reef Economics Community of Practice
- Global Socioeconomic Monitoring Initiative for Coastal Management (SocMon)
- Marine Ecosystem Services Partnership (MESP)
- UNEP’s TEEB
- WRI - Economic Valuation of Coral Reefs in the Caribbean
- ReefFix: An ICZM Coral Reef Restoration, Watershed Management and Capacity Building Demonstration Project for the Caribbean
For more information on this AHC contact the ICRI Secretariat.