demonstrating that Canada's boreal forests -- which cover nearly 60 percent of the Canadian land mass -- are worth substantially more as ecosystem services than if cut down for lumber, cleared for mining, or inundated for hydroelectric power.
The estimated market value of boreal natural capital extraction, in 2002 dollars (the point the study began), is C$48.9 billion, minus an estimated C$11.1 billion in direct air pollution from the work and government subsidies, for a total of C$37.8 billion. The estimated non-market value of boreal ecosystem services in 2002 totaled C$93.2 billion. The ecosystem services are twice the value of natural capital extraction, even if costs are ignored:
The ecosystem services with the highest economic value per year are (1) flood control and water filtering by peatlands?$77.0 billion; (2) pest control services by birds in the boreal forests?$5.4 billion; (3) nature-related activities?$4.5 billion; (4) flood control, water filtering, and biodiversity value by non-peatland wet-lands?$3.4 billion; and (5) net carbon sequestration by the boreal forest-$1.85 billion.
The report is a terrific example of how to do natural capital valuation.
WorldChanging: Another World Is Here: What's a Forest Worth? More Than You Might Think.: Filed in: value, ecosystem-services, Canada
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