2014 Vol.3

Trends and Issues in Economic Evaluation of the Value Generated by Natural Capital

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Against a backdrop of global trends surrounding natural capital and the introduction of policy evaluation systems and new administrative management methods, there is increasing need for economic evaluation of the value generated by natural capital. In Japan, universities and other research institutions have played a central role in research and development of evaluation methods, introduction of overseas examples, and promotion of various methods in practice, and government agencies dealing with issues involving natural capital have created guidelines and manuals. Local governments that proactively protect and improve natural capital are now attempting economic evaluations of the value generated by natural capital. As to the future, it will be necessary to implement reliable evaluation methods by promoting the visualization of relevant calculation processes and calculation results and by properly utilizing human resources and manuals created by government agencies, while keeping in mind the goal of incorporating the evaluation results in policy-related decisions.