Citation Information: Regional Workshop, "Investing in Coral reef: Is it worth it?" 22–25 November 2010; Secretariat of the Pacific Community, Noumea, New Caledonia
Authors: Andrew Seidl, Nicolas Pascal
Description: From 22-26 November 2010, the Coral Reef Initiatives for the Pacific (CRISP) Coordinating Unit convened a workshop of some two dozen leading regional researchers and local policymakers in New Caledonia. The workshop was financially supported by the French Pacific Fund (SPP) and was offered in partnership with the General Secretariat of the Pacific Community (CPS), the International Union for Conservation of Nature (IUCN), the Institute for Pacific Coral Reefs (ICRI), and the South Pacific Regional Environment Program (SPREP).
The title of the workshop “Investing in coral reefs: Is it worth it?”’ was refined through an expert forum and specified during the week to reflect the role of economic valuation in coral reef management with the objective of improving the welfare of Pacific islanders. As a result, the objectives of the workshop were: 1) to report the results of economic valuation assessments of coastal marine management in human development in the region; 2) to discuss the dimensions of standard economic valuation techniques that require adaptation to the region; and 3) to enhance the communication between researchers and policy makers such that economic valuation research results are best suited for local policy decision-making.
Day 1 of the workshop provided the global context of economic valuation of coral reef ecosystems and a brief overview of related research conducted by participants. Day 2 explored the use and usefulness of Total Economic Valuation for decision-making in the Pacific. Day 3 discussions surrounded the use of economic valuation information in benefit-cost analysis (SBCA) of marine and coastal zone development projects. Days 4 & 5 sought to improve the usefulness of economic valuation research results focused on coral reefs in the Pacific to decision makers and managers and to discuss innovative conservation finance approaches appropriate to the region.