Economic valuation of marine and coastal ecosystem services is increasingly being considered to be of critical importance for informed decision-making and effective management of marine and coastal resources.
However, the translation of scientific theory to policy in practice can be challenging.
This report provides an overview of the main methods of economic valuation, their strengths and weaknesses, and practical applications. Theoretical concepts are illustrated with a number of practical examples throughout this report, to demonstrate how these approaches can be of practical use across all scales, in policy development, decision making and communication. Practical guidance on how to implement a valuation exercise, and how to overcome common challenges, is also provided.
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