Accounting for the value of ecosystem assets: from value judgments to management needs—take Yancheng City as an example

Abstract

Ecosystem assets form a significant portion of natural resource assets. Accounting for natural resource assets accurately interprets the theory of 'lucid waters and lush mountains are invaluable assets'. This facilitates effective and unified management of ‘mountains, water, forests, farmlands, lakes, grasslands and desert ecosystem’ and serves as a crucial bridge from qualitative understanding to the valuation of the theory of ecosystem services and from theoretical discussion to management practice. Yancheng is the only coastal ecological wetland city with world natural heritage on China’s 10,000-mile coastline integrating three green genes and biodiversity of ocean, forest, and wetland. Yancheng, selected as a study case, is an important ecological barrier and a treasure trove of ecological resources in the eastern coastal areas of China. The ecosystem service value of Yancheng City from 2019 to 2021 was calculated respectively. The income-capitalization method was used to divide the annual ecosystem service value by the bank loan interest rate in the same period to obtain the ecosystem asset stock value of the past 3 years. The value of ecosystem services in Yancheng City are classified to three parts based on their value attributes: first, ecological products with use value attributes that have already been realized; second, the value of those with use value attributes but have not yet been realized; and third, the value of support services with nonuse value attributes. By comparing the value components of supply, regulation, and cultural ecological products in Yancheng, the intensity of existing development and the potential for future growth of Yancheng ecosystem services are assessed. The Yancheng case shows that ecosystem asset value accounting is an practical assessment tool that transitions from value judgment to service management needs, which can provide a scientific basis for ecological environment management.