Benefit transfer and the economic value of Biocapacity: Introducing the ecosystem service Yield factor

Abstract

The Ecological Footprint can inform benefit transfer estimates of ecosystem services by considering the different productivity of land-types. In this paper, ecosystem service values are used to calculate Ecosystem Service Yield Factors (ES-YFs) for the world countries as monetary-based alternative to resource-based Yield Factors (YFs). These scaling factors are context-dependent and can be used for transferring ecosystem service values calculated in different locations for cropland, grazing land and forest.The ES-YFs were further used to calculate Biocapacity Economic Values (BEVs) that represent natural capital values and can be used for environmental economic accounting and as a component of wellbeing indicators. Besides improving the accuracy and feasibility of the benefit transfer method, the ES-YFs can inform natural resource management towards more sustainable options and allows for comparison with economic values in markets sensible to asymmetry, incomplete information, unfairness and unethical behaviours.