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Assessing the Value of Our Forests: Quantification and Valuation of Revegetation Efforts

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Type: Conference Paper
Author: Mondal, Dibyendu; Singh, Subrata; Dhameliya, J. V.
Conference: Fourth Biennial Conference of the Indian Society for Ecological Economics (INSEE)
Location: Mumbai, India
Conf. Date: 3-4, June 2005
Date: 2005
URI: https://hdl.handle.net/10535/1425
Sector: Forestry
Region: Middle East & South Asia
Subject(s): resource management--case studies
valuation--case studies
cost benefit analysis--case studies
Abstract: "While implementing a project of regenerating degraded lands (forests or otherwise), one often faces the question of justifying the benefits that would accrue from the initiative. Contrastingly, when a natural forest is destroyed one faces with a very minimal compensation based on the timber available or just on the value of land with a small premium for the existing biomass or as compensatory afforestation of a barren landscape. This leaves us in a situation where answering only the value of the total flow of benefits from the forests does not give a true picture. There is a need to look for mechanisms to value the forests in entirety. "This paper is an attempt at valuation of forests using Natural Resource Accounting System (NRAS) framework through a case study from Gujarat. The framework looks beyond the conventional system of accounting the direct investment vs. flow of benefits to include existing stock and environmental benefits. This system attempts to calculate the total value or contribution to society at a given point of time. The framework helps us estimate the change in this value if a conservation action/ destructive action are undertaken, how this change affects different stakeholders--that is, who are the benefited and who are the losers, and therefore help in decision making. This also can help us in calculating the actual cost and benefits for taking up such an activity or even for the valuation/compensation for the damage in case of a change in the land use."

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