Natural capital restoration and economic efficiency

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dc.contributor.advisor Craig, John en
dc.contributor.author Vesely, Éva-Terézia en
dc.date.accessioned 2020-07-08T05:00:28Z en
dc.date.available 2020-07-08T05:00:28Z en
dc.date.issued 2009 en
dc.identifier.uri http://hdl.handle.net/2292/52171 en
dc.description Full text is available to authenticated members of The University of Auckland only. en
dc.description.abstract Restoration is becoming an increasingly important intervention as more ecosystems become degraded and demands for their services continue to grow. Ecological input has traditionally dominated restoration decision-making, but there have been numerous calls for a broadening of the included perspectives. Economics is a recent candidate through the conceptualisation of restoration as investment in natural capital. To support the inclusion of micro-economic input into restoration decision-making, different strands of conceptual thinking in relation to natural capital, ecosystem restoration, and nature valuation were drawn together to develop an integrative framework that illustrates how economic (and cost) efficiency can guide restoration decision-making. The suggested framework has 3 inter-related elements: the first element links a series of micro-economic tools to the different stages of the adaptive restoration process; the second element describes a process for selection among the tools, and the third element provides a process for the practical implementation of the tools. Three case studies are used to reflect on the framework and investigate potential challenges with the micro-economic analysis of restoration projects. The case studies cover the avoidance of a quantitative reduction in the urban tree estate of 15 New Zealand cities, soil organic matter recovery at Pukekohe, Palmerston North and Oamaru, and the ecological restoration of the Tiritiri Matangi offshore island. The case studies provided support for the potential of economic efficiency to drive natural capital restoration. However, the practical application of economic analysis in a restoration context was found to be challenging from a number of perspectives: Iack of costing data, incomplete understanding of ecosystems, substitution and complementarity among restoration projects, non-market multidimensional outcomes, Iong time frames and risk and uncertainty. In such a context, cost-benefit analysis, the tool for measuring economic efficiency, does not necessarily yield firm numerical results; rather, it is a general framework for carefully accounting for the varied effects of restoration projects. A multi-disciplinary, experimental, pragmatic and adaptive approach to the economic assessment of restoration projects, accompanied by peerreview and communication with the decision-makers, are recommended for the economic input to achieve its potential in a restoration context. en
dc.publisher ResearchSpace@Auckland en
dc.relation.ispartof PhD Thesis - University of Auckland en
dc.relation.isreferencedby UoA99191302114002091 en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. en
dc.rights Restricted Item. Full text is available to authenticated members of The University of Auckland only. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.title Natural capital restoration and economic efficiency en
dc.type Thesis en
thesis.degree.grantor The University of Auckland en
thesis.degree.level Doctoral en
thesis.degree.name PhD en
dc.rights.holder Copyright: The author en


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