WP5. Measuring market and non-market costs of CC and benefits of climate actions for Europe
The main objective of this WP is to estimate the economic values of changes in the Environmental Services of the marine and coastal ecosystems (inputs for Blue Economy sectors), due to Climate Change impacts and related policies.
Values primarily obtained in islands will be transferred to the whole coastal areas of Europe through refined methods for value transference.
A set of specific objectives derives from it:
- To develop a robust methodology to translate climate shocks and policies into changes in quantity and quality of the Environmental Services affected, which are relevant for the Blue Economy activities, using material and energy flow accounting models (Fischer-Kowalski et al., 2011).
- To obtain the main factors determining people’s marginal economic value for each environmental service being affected by Climate Change. Those factors will include not only socioeconomic and demographic, but also psychological and emotional factors (Araña and Leon, 2009). In addition, differences in values due to framing effect will be estimated.
(De Martino et al., 2006 ; Horowitz and McConnell, 2002)
- To estimate the effects the economic values derived from social perceptions have into the economic systems of islands, which are relevant for Blue Economy activities, to be transferred to economic modelling.
- To feed big data analysis with data from economic values of Environmental Services impacted by climate shocks and policies, obtained through both revealed and stated preferences, and generate a map for other marine and coastal areas of Europe.