Towards an economic valuation of biodiversity: freshwater ecosystems

The valuation of environmental resources and biodiversity as a whole has become an increasingly necessary topic of research as our understanding of the importance and benefits of the healthy functioning of the environment develops. A major shortcoming of current research is that there has been very little advance in the valuation of freshwater biodiversity. The paper examines the socioeconomic importance of biodiversity and outlines the fundamentals of economic valuation thereof. The difficulties associated with the valuation of freshwater ecosystems are outlined and the results of a study presented to the South African Water Research Commission incorporating resource economics into freshwater quality objectives is described. The valuation of freshwater biodiversity is an important and complicated task that needs close attention in future research