The economics of ecological restoration

Research output: Chapter in Book / Conference PaperChapter

Abstract

To date, there have been limited applications of cost-effectiveness analysis and cost-benefit analysis by those involved in ecological restoration, yet these can be powerful tools to improve the effectiveness and efficiency of management and research efforts. First, cost-effectiveness analysis allows restoration practitioners to develop procedures that achieve the greatest ecological value for the limited money which has been made available for restoration. Second, cost-benefit analysis is needed to justify the importance of restoration projects, giving these projects a better chance of competing for government and other funds in a field of worthy causes. At the same time, it is recognised that the use of economic tools can unintentionally commodify and therefore undermine ecological restoration. Nevertheless, using the language and practices of economics, while consciously maintaining an environmentally friendly ethical position, will markedly strengthen restoration proposals.
Original languageEnglish
Title of host publicationEcological Restoration: Moving Forward Using Lessons Learned
EditorsSingarayer Florentine, Paul Gibson-Roy, Kingsley W. Dixon, Linda Broadhurst
Place of PublicationSwitzerland
PublisherSpringer
Pages567-590
Number of pages24
ISBN (Electronic)9783031254123
ISBN (Print)9783031254116
DOIs
Publication statusPublished - 1 Jan 2023

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