In green economies, natural capital is incorporated into measurement of societal progress and equity, and recognized and managed as a fundamental pillar of economic and human well-being. The Lower Mekong region must demonstrate success in living up to commitments to maintain ecosystem integrity before claims to having ‘greened’ growth can be made. A first step in making this commitment is ensuring that there is adequate information available on the socioeconomic importance of ecosystems and the services they provide. Ecosystem services valuation is a basic component of the evidence base for decisions to invest or divest in maintaining natural systems.
1. There is a lack of information on almost all ecosystem values in the region, including most ecosystem types and categories of ecosystem services. At the very least, efforts should be made to generate new primary data on the key values, particularly supporting and provisioning services, for representative ecosystems in the region. A major gap also exists in terms of linking ecosystem and economic scenario modelling to a thorough analysis of the drivers of ecosystem change in the region. Investment is required in generating more information on the economic value of ecosystem services in order to implement effectively the national green growth strategies and policies under development in the Lower Mekong countries.
2. Although primary data and figures are needed, filling these information gaps requires more than just numbers. To carry out a credible scenario modelling exercise and associated economic analysis also demands a much broader-based dialogue with key stakeholders and experts in the region. Only through this wider consultation and input can realistic scenarios of future development, conservation and ecosystem trends be built up. Most ecosystem valuation estimates have a weak scientific basis, and the assumptions they make about the links between ecosystem status and ecosystem services are largely unsourced. The scientific and biophysical data required for both ecosystem valuation and scenario modelling needs to be identified, extracted and made available in a form that can be integrated into economic modelling and datasets.
3. The use of "off the shelf" ecosystem valuation analytical tools is not recommended. Simple, tailor-made models may be most appropriate for future work on ecosystem valuation in the Lower Mekong region.
4. Natural capital valuation is an excellent tool for policymakers in green growth planning and realisation but the dots must be joined between policy "problems", real decision-making processes and valuation approaches in the Lower Mekong countries. Information on the economic value of ecosystem services has little relevance if it is not being communicated effectively to decision-makers, in a form that is practical, relevant and credible to them. Policy-makers must demand the information; and practitioners must be open to engage in a dialogue with end users of valuation data in order to design and produce valuation studies at the scale of decision-making and in the context of particular policy issues.