Valuing Forest Ecosystem Services

A Training Manual for Planners and Project Developers

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The aim of this manual is to enhance understanding of ecosystem services and their valuation. The specific target group comprises governmental officers in planning units and field-level officers and practitioners in key government departments in Bangladesh responsible for project development, including the Ministry of Environment and Forests and its agencies. Most of the examples and case studies presented herein, therefore, are tailored to the Bangladesh context, but the general concepts, approaches and methods can be applied to a broad spectrum of situations. This manual focuses on valuing forest-related ecosystem services, including those provided by trees outside forests. It is expected to improve valuation efforts and help ensure the better use of such values in policymaking and decision making.



Module 3: The basics of cost-benefit analysis

To use and understand economic valuation methods and to further develop and analyse their outcomes, familiarity is needed with some basic concepts of financial economics. One of these is the “time value of money”, which is the concept that the same amount of money may have different value depending on when it is available for consumption. Cost–benefit analysis (CBA) is a tool used in financial and economic analyses to help decision making and project planning. This module explains how to deal with the “time value of money” by moving value forward or back in time, and how to perform a CBA in practice.


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