WP 4: Economic valuation of marine ecosystems in accordance to Directive 2014/89/EC establishing a framework for Maritime Spatial Planning
The objective and the main deliverable of this work package is to assess the total value of goods and services rendered by the important habitats/species in the Aegean, and the cost of their degradation in accordance to Directive 2014/89/EU establishing a framework for MSP.
The valuation of the total value of goods and services of ecosystems in the Aegean, and the cost of their degradation, resulting from the benefit reduction scenarios in key economic sectors and social welfare due to the pressures on marine ecosystems, will be conducted by applying the value transfer method (of benefit or cost). The Value Transfer Method refers to the process of transferring existing environmental assessment data for a given problem from a region with specific characteristics to another with similar characteristics (Navrud & Ready 2007).
The economic valuation of the services of selected parts of marine ecosystems in the Aegean region will include identifying various parameters of ecological changes, each with its own implications for human welfare. Scientists and stakeholders will be involved in the procedure for the identification and description of these ecological and economic changes.
D4.1: Assessment of the total value of basic goods and services of important ecosystems in the Aegean region
D4.2: Assessment of the cost of their degradation, resulting from the benefit reduction scenarios in key economic sectors and social welfare by human activities and pressures on marine ecosystems