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Economic Valuation of the Biodiversity-Related Changes in Ecosystem Services of the Arctic Caused by Climate Change

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Title
Economic Valuation of the Biodiversity-Related Changes in Ecosystem Services of the Arctic Caused by Climate Change
Other Titles
북극의 기후변화로 인한 생태계변화의 경제적 가치추정
Authors
Kang, Heechan
Kim, Hyo-Sun
Subject
Business & Economics
Keywords
Contingent Valuation; Biodiversity; Arctic; Cold wave
Issue Date
2016-06
Citation
Kang, Heechan, Kim, Hyo-Sun. 2016-06. "Economic Valuation of the Biodiversity-Related Changes in Ecosystem Services of the Arctic Caused by Climate Change". Environmental and Resource Economics Review, 25: 321-349.
Abstract
According to the recent observation by NOAA(US National Oceanic and Atmospheric Administration), 2015 is the warmest year based on global average temperature since 1880. The air temperatures in the Arctic have been rising at almost twice the global average and the extent and thickness of sea ice in the Arctic have declined. And the warming process in the Arctic is accelerating rapidly. These impacts of drastic change in sea ice caused by climate change in the Arctic threaten the eco-system service and biodiversity in the Arctic. This study intends to estimate the economic value on changes in eco-system services and biodiversity of the Arctic caused by climate change. The result of the valuation indicates that the total benefit from improvement of ecosystem in the Arctic ranges from 318.6 billion won to 715.9 billion won per annum. Replication scenarios can be explored into two broad categories in future studies: scenarios in consideration of conflicts of different stakeholders and scenarios based on wider or narrower definition of biodiversity in the Arctic.
URI
http://repository.kopri.re.kr/handle/201206/4888
DOI
http://dx.doi.org/10.15266/KEREA.2016.25.2.321
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