UKTC Archive

Valuing nature

Subject: Valuing nature
From: Jon Heuch
Date: Dec 05 2018 11:47:40
I was at a (yet another) VNN meeting in London dealing with economic
valuation yesterday afternoon. The same old issues arose that have arisen
for the last 20 years - lack of data, a plethora of valuation tools and
projects developing new tools, lack of uptake etc etc


The difficulty with such valuations is largely in misunderstanding and
misuse...thinking that a simple number can cover up the complexities of a
situation.  Worrying that a "valuation" doesn't cover all aspects.
Understanding that valuation provides insights i.e. it's a tool not a
decision maker, helps. Seeing companies & other organisation - e.g.
Heathrow, Crown Estate - starting to look more widely at their impact and
decision making than just the bottom line is encouraging. Understanding the
limitations of valuation is all important - the data simply isn't available
to provide an all embracing value is a key one so any valuation is only
partial. i Tree is a classic example.


People may be interested in Fields in Trust "revaluing parks and green
spaces" study  This has used accepted valuation
methods to value parks, setting out their methodology in a transparent way. 


And of course there is the Natural Capital Committee and ONS who are
monitoring these things along with the Wellbeing agenda...


Be warned! The devil is in the detail of most valuations.




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