Environmental Valuation

Environmental valuation is the process of assigning economic value to environmental goods and services, such as clean air, water, and biodiversity. It helps us understand the benefits these resources provide to society, including health, recreation, and ecosystem stability. By quantifying their worth, we can make informed decisions about conservation, resource management, and policy. This valuation can involve both market prices and non-market factors, such as people’s willingness to pay for a better environment. Ultimately, it aims to integrate environmental considerations into economic decisions, promoting sustainable development and enhancing overall societal well-being.