A standard framework for assessing the costs and benefits of restoration: introducing The Economics of Ecosystem Restoration

Background

Policy behind restoration projects and efforts is stronger than ever before, however the funding and financial structure to keep these efforts going is drastically underdeveloped. Ecological restoration finance is not usually in the expertise of restoration practitioners and communities, thus requiring those people to bring in someone with that expertise for aid. The authors emphasize that restoration projects are long-term investments and therefore a better financial understanding is needed to properly plan and execute those projects. Better understanding the costs and benefits of restoration will help gain easier access to financial support.

Conclusions and Takeaways

The authors develop a standard framework to allow for efficient data input and analysis creating a robust database of restoration costs and benefits. The framework aims to put forth policy-relevant data on economic aspects of restoration. This model includes correlating costs and context variables in restoration projects. The authors create it to include restoration projects defined as time-bound interventions with the goal of improving ecological integrity and/or functioning. Other variables included in this model consist of expenditure categories such as labor and supplies among others, while also quantifying and categorizing stakeholders, methodology, and benefits. The authors conclude that this framework is a standardized tool that ensures consistent and accurate data collection on project costs and benefits. Having this global database greatly supports restoration projects to have higher and more consistent funding.