Abstract
The realization of ecological product value (EPV) is a crucial pathway for green economic development and the practical implementation of both the United Nations Sustainable Development Goals and China’s “Two Mountains Theory”, which emphasizes the need for harmony between ecological protection and economic growth. While China has initiated several pilot projects, there remains no consensus on the classification of ecological products or the measurement of EPV realization levels, largely due to limitations in the existing accounting systems, which fail to address EPV’s complexity. This study introduces a novel framework for measuring EPV realization, categorizing ecological products into pure public, quasi-public, and operational types. It demonstrates the economic value of ecological conservation, providing viable economic incentives for green development. This framework allows governments and businesses to see that protecting and sustainably utilizing natural resources can also yield economic benefits, thus offering a new feasible pathway for green development. Using Zhejiang Province as a case study, the authors present an improved coupling coordination model and a mechanical equilibrium model to assess EPV levels, emphasizing the importance of tailored regional strategies. Additionally, an obstacle degree model is employed to identify and analyze the factors limiting EPV realization. The results show that (1) different types of ecological products follow distinct value realization paths within the “economic–ecological–social” system; (2) EPV realization varies significantly across regions, with a trend of being lower in the southwest and higher in the northeast; (3) obstacles to value realization differ across subsystems, with particular attention needed to improve quasi-public ecological products in the ecological and social domains; (4) factors such as pesticide use and the number of tourist attractions affect EPV realization at the provincial and municipal levels, respectively. This study presents a new EPV measurement framework and highlights the spatial–temporal variability of EPV realization across regions. It provides valuable insights for developing countries and ecologically vulnerable areas seeking to optimize their EPV realization, supporting sustainable development and advancing “Two Mountains Theory” transformation.
Published Version
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