In the remote waters of Alaska's Bering Sea, a tiny community wants to maintain its rich resources. St. George Island is home to about 80 residents - many of whom rely heavily on the island’s natural resources for cultural and subsistence purposes. To help the community plan resource protections, Earth Economics is conducting an economic assessment of St. George Island and its surrounding marine area.
For far too long, nature has either been undervalued or ignored entirely in planning and investment – with profound effects on decision making. But recent policy changes are beginning to reflect the value of ecosystem services. Federal agencies like FEMA and HUD are starting to recognize that nature does indeed hold value for people, and that it should play a role in our decision making.
The Pacific Northwest’s Columbia River is a powerful force – currently managed primarily to maximize hydropower generation and flood risk management, the Columbia River Treaty is due for an update in 2024. To help inform Treaty negotiations, Earth Economics is partnering with a coalition of tribes and area stakeholders to conduct an economic valuation of the Columbia River Basin’s natural capital.
It’s been a busy year already at Earth Economics! We’ve attended a number of conferences and events, worked on projects from Alaska to Central America, and seen a lot of exciting developments in our work. Natural capital is increasingly becoming a part of the conversation as agencies like FEMA and HUD begin to incorporate ecosystem services, and we are excited to engage in these efforts to account for nature. Take a look at our 2016 program highlights so far.
In cooperation with the Urban Waters Federal Partnership, Earth Economics is embarking on a new project focused on Colorado's South Platte River Watershed in collaboration with the Ecosystem Sciences Foundation and Plan-It Geo. The project will assess the watershed’s ecological health with the aim of identifying and prioritizing restoration and conservation areas.
In an effort to spark investment in sustainable agriculture, Earth Economics is embarking on an agriculture-focused valuation project in collaboration with Farmland LP and the Delta Institute. This new collaboration will quantify the financial impacts of farm-scale, sustainable management practices on ecosystem services.
Across the country, planners and policy makers are starting to consider the value of natural capital assets and ecosystem services. In Arizona, Earth Economics has joined in to work with groups on incorporating ecosystem services into planning for the Sabino Creek watershed.
In December, Earth Economics released a new report that found that the benefits of investing in the trails, parks, and open space of Alaska’s Mat-Su Borough return more than $5 for every $1 spent. Now, that same report is being used by Mat-Su Borough Assembly members to negotiate a proposed recreation bond in support of trails.
