The economic valuation of ecosystem services in Colombia. Challenges, gaps and future pathways

Abstract

This paper provides a comprehensive assessment of the economic values for ecosystem services (ESs) in Colombia. Were analyzed 154 studies that estimated economic values for 21 ESs in 18 general ecosystems. In total, 502 values were coded and classified according to the Common International Classification of Ecosystem Services -CICES. Despite being a technique that is not based on primary economic valuation information, Benefits transfer was the most common method used to estimate the value of ESs in Colombia, followed by market prices and contingent valuation. Opportunities for recreation and tourism, climate regulation, habitat conservation, and water have been the most valued ESs. Many important ESs remain unnoticed and are not adequately accounted (e.g. pollination). Additionally, 53% of the information available on the economic values of ESs is concentrated in only 5 of the 32 Colombian departments. Finally, this review highlights the multiple challenges of Colombian academics and practitioners to improve the economic valuation practice and complement and recognize the multiple social relationships and the multiple views in terms of the values nature has.

A first approximation to the Colombian Amazon basin remnant natural capital. Policy and development implications

“…Following de Groot et al (2020), the standard unit we used was Int.$2020 (USD adjusted for differences in purchasing power across countries), per hectare, and per year for the total number of beneficiaries. We applied a five-step standardization process: price level, currency, spatial unit, temporal unit, beneficiary unit, suggested by De Groot et al (2020) and Ruiz-Agudelo et al (2022). Finally, essential information was recorded from each study, including publication descriptors and geographic information (Supplementary material 1).…”