Assessing the economic value of eco-system based measures
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Investing in infrastructure: Costs, benefits and effectiveness of disaster risk reduction measures. Presentation made by: Sabrina Lavarone Economist – Economics and Social Science Team
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Assessing the economic value of eco-system based measures
- 1. Assessing the economic value of eco-system based measures Sabrina Iavarone Economist – Economics and Social Science Team 19th September 2019 High Level Risk Forum: Investing in infrastructure resilience - Costs, benefits and effectiveness of disaster risk reduction measures, OECD Headquarters – Paris, France.
- 2. Assessing the economic value of eco-system based measures • Strategic national scale investment local scale projects • Examples: o Working with natural processes to reduce flood risk Green Infrastructure, River Soar (Leicester) o Greater Manchester Urban Pioneer o Reverse auctions 9/20/20192
- 3. Working with natural processes to reduce flood risk • 3 interlinked projects making up evidence base • Effectiveness of measures for FCRM and ecosystem service benefits • Maps & guidance to develop business cases and implement measures in flood risk areas 9/20/20193
- 4. 4 Green Infrastructure on the River Soar, Leicester • Top 5 flood risk location • Flood alleviation through environmental enhancements • Incorporate pockets of natural habitats • More diverse and resilient ecological communities • Improved housing protection 9/20/2019
- 5. 5 Greater Manchester Urban Pioneer • Links between environment, society and economy • Improving natural environment through better decision-making • Key output – identifying opportunities for investment in natural capital 9/20/2019
- 6. Reverse auctions to secure multiple environmental outcomes • Market-based approach • Farmers/land managers (sellers) bid for funding to implement climate resilience measures on their land • Better value for money • 2nd trial - Future trials evaluating outcomes 9/20/20196 Trading platform Buyers e.g. Private/publ ic sector orgs Sellers e.g. farmers Brokers e.g. Third sector
- 7. Thank you very much for listening Any questions? Sabrina Iavarone Sabrina.Iavarone@environment-agency.gov.uk
Notas del editor
- Good afternoon everyone, within the next few minutes, I will provide you with a few examples of how the Agency has been assessing the economic value of eco-system based measures.
- At the Environment Agency in England we integrate both monetary and non-monetary valuations into our decision-making and our work has led to a range of outcomes from strategic level investment through to more local scale projects, such as sustainable design, flood defences and eco-system valuation.
- Working with Natural Processes (WWNP) to reduce flood and coastal erosion risk (FCRM) involves implementing measures that help to protect, restore and emulate the natural functions of catchments, floodplains, rivers and the coast. WWNP takes many different forms and can be applied in urban and rural areas, and on rivers, estuaries and coasts. There has been much research on WWNP, but it has never been synthesised into one location. This has meant that it has been hard for flood risk managers to access up-to-date information on WWNP measures and to understand their potential benefits. The outputs can be used by those planning projects which include WWNP measures to help understand: Their potential FCRM benefits and multiple benefits. Any gaps in knowledge Where it has been done before and any lessons learnt Where in a catchment they might be most effective
- Leicester is one of the top five locations in the UK at risk of flooding. Flood alleviation is delivered through environmental enhancements: the scheme works by removing barriers to the movement of flood water and improving the capacity of the floodplain to store water, incorporating pockets of natural habitats to build more diverse and resilient ecological communities. The sites chosen were underused public open space of low ecological value. Without using an ecosystems approach, the scheme would not have been designed to deliver so many multiple social and environmental benefits: - 2100 houses better protected - 2.07Ha of wetland habitat created - 470m of new cycleway constructed and 370m of cycleway upgraded - 100 trees and 7000 shrubs planted - 1 Ha of wildflower meadow created
- The Natural Capital Pioneer projects are delivering innovation in how we assess and value ecosystem services, exploring the links between environment, society and economy, focusing on improving the natural environment through improved decision making. Results: • Supporting the mental and physical health of residents • Improved air quality • Reduced flood risk • Creating opportunities for recreation • Providing richer habitats for wildlife, and protect threatened species Key outputs include a Natural Capital Investment Plan, which identifies opportunities for investment in natural capital that deliver on local priorities for ecosystem service delivery, and a natural capital account for the area.
- We have also tried to use online reverse auctions as a tool for securing multiple environmental outcomes. This involved using a market-based approach, through the use of a trading platform, private and public sector orgs as buyers, the third sector as brokers and farmers as sellers. Farmers bid for funding to implement climate resilience measures on their land, competing to obtain funding from the buyer. Prices will typically decrease as the sellers underbid each other. The benefits of a market-based approach are better value for money, lower transaction costs, attractive for suppliers – more uptake, greater environmental outcomes, blend private and public sector funding. Just completed second trial, outcomes have not been evaluated yet, but this will be done in future trials. The tool was well-received by the users.