Table 5.1 Valuation of ecosystem services in Victoria’s parks Ecosystem service Measure of service flow Type of value Approach to valuation Priority for Confidence in monetary Victoria valuation Provisioning goods supply Quantity of water flows Direct use value Replacement cost of supplying water High High Honey products Quantity of honey supplied Direct use value Producer surplus for honey production Medium High Regulating services purification/filtration Quantity of sediment, nutrients and Indirect use value Replacement cost of water purification High High pollutants retained c/w alternative land use Flood /stormwater regulation Impact on peaks c/w alternative land Indirect use value Replacement cost of flood control High High use infrastructure Climate regulation- carbon storage and Quantity of carbon stored; Quantity of Indirect use value Indicative under national emission High High sequestration carbon sequestered reduction fund Climate regulation-local climate-urban Difference in temperature between park Indirect use Avoided health avoided cost of Medium Medium cooling areas c/w non parks energy consumption Coastal protection Area of coastal habitats providing Indirect use value Replacement cost of coastal protection High Medium protection to communities infrastructure or restoration Air quality regulation Quantity of pollutants/particulates Indirect use value Avoided health of air pollution Medium Future absorbed by vegetation based on population exposed Soil quality and stability Soil health index; Quantity of soil loss/ Indirect use value Avoided costs of land degradation and Medium Future erosion avoided c/w alternative land use rehabilitation costs Pollination and seed dispersal Number of apiary sites in parks Indirect use value Consumer and producer surplus of High Future agricultural crops affected by pollination Pest and disease control Diversity and abundance of insectivorous Indirect use value Avoided loss of production or increased Medium Future birds value of crops Habitats for species Condition and representation of habitats Indirect use Non-monetary indicator: % of best High High habitat in the for rare and threatened species Maintenance of nursery services Area of nursery habitats; enhancement of Indirect use value Benefit transfer (increased productivity Medium Medium biomass in commercial fishing) Maintenance of genetic diversity Significance and representation of rare Indirect use value Non-monetary indicator: % of best High Medium and threatened species habitat in the State for rare and threatened species Cultural services Recreation Number of visitors; Index of satisfaction; Direct use value Benefit transfer (travel cost method for High High Index of personal benefit enjoyment) Number of tourists’ (tourists Direct use value Difference in the contribution to High High ‘park contribution to State and regional economic activity attributed to method employment attributable to parks);
Table 5.1 Valuation of ecosystem services in Victoria’s parks Ecosystem service Measure of service flow Type of value Approach to valuation Priority for Victoria Confidence in monetary valuation Provisioning goods supply Quantity of water flows Direct use value Replacement cost of supplying water High High Honey products Quantity of honey supplied Direct use value Producer surplus for honey production Medium High Regulating services purification/filtration Quantity of sediment, nutrients and pollutants retained c/w alternative land use Indirect use value Replacement cost of water purification High High Flood /stormwater regulation Impact on peaks c/w alternative land use Indirect use value Replacement cost of flood control infrastructure High High Climate regulation- carbon storage and sequestration Quantity of carbon stored; Quantity of carbon sequestered Indirect use value Indicative under national emission reduction fund High High Climate regulation-local climate-urban cooling Difference in temperature between park areas c/w non parks Indirect use Avoided health avoided cost of energy consumption Medium Medium Coastal protection Area of coastal habitats providing protection to communities Indirect use value Replacement cost of coastal protection infrastructure or restoration High Medium Air quality regulation Quantity of pollutants/particulates absorbed by vegetation Indirect use value Avoided health of air pollution based on population exposed Medium Future Soil quality and stability Soil health index; Quantity of soil loss/ erosion avoided c/w alternative land use Indirect use value Avoided costs of land degradation and rehabilitation costs Medium Future Pollination and seed dispersal Number of apiary sites in parks Indirect use value Consumer and producer surplus of agricultural crops affected by pollination High Future Pest and disease control Diversity and abundance of insectivorous birds Indirect use value Avoided loss of production or increased value of crops Medium Future Habitats for species Condition and representation of habitats Indirect use Non-monetary indicator: % of best habitat in the for rare and threatened species High High Maintenance of nursery services Area of nursery habitats; enhancement of biomass Indirect use value Benefit transfer (increased productivity in commercial fishing) Medium Medium Maintenance of genetic diversity Significance and representation of rare and threatened species Indirect use value Non-monetary indicator: % of best habitat in the State for rare and threatened species High Medium Cultural services Recreation Number of visitors; Index of satisfaction; Index of personal benefit Direct use value Benefit transfer (travel cost method for enjoyment) High High Number of ‘park tourists’ (tourists contribution to State and regional employment attributable to parks); Direct use value Difference in the contribution to economic activity attributed to method High High
Valuing-Victorias-Parks-Report-Accounting-for-ecosystems-and-valuing-their-benefits.docx