Ecosystem Service Valuation and Ecosystem Asset Account in Japan

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Organisation:
Policy Research Institute, Ministry of Agriculture, Forestry and Fisheries (PRIMAFF)

This paper introduces Japan’s initiative of valuing ecosystem services and incorporates it into the System of Environmental-Economic Accounting - Experimental Ecosystem Accounting (SEEA-EEA). Specifically, it evaluates ecological stocks (i.e. forest and wetland) and ecosystem services from them based on economic valuations and develops an accounting system to record these values. 

Firstly, it estimates the unit value of forest and wetland by environmental-economic valuation techniques. Contingent valuation is applied to estimate welfare values for both forest and wetland. In addition, it estimates the exchange values of the stocks. For exchange values, a methodology applied in The Economic of Ecosystems and Biodiversity (TEEB) study is used. The estimated values are incorporated in the ecosystem asset accounts in both physical and monetary terms. The values are disaggregated into their functions to provide ecosystem services. The evaluations are conducted in each prefecture in Japan. 

The ecosystem accounting in this study can provide useful datasets and information regarding ecosystems and contribute to the policymaking. As both surplus and exchange value of ecosystems are in the accounting, these two types of values can be used for different policy purposes, and can be applied to macro indicators such as the Inclusive Wealth Index (IWI) of the UN.

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Country :
Japan
Themes :
Key search term :
SEEA-EEA
natural capital valuation
natural capital accounting
economic valuation of natural capital
natural capital
ecosystem services
Wetlands

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