powerpoint presentation · title: powerpoint presentation author: peter k moore created date:...
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DORSET’S
'ENVIRONMENTAL
ECONOMY'
Peter Moore
Head of Environment,
Dorset County Council
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Valuing Dorset’s environment Assessing impact of Jurassic Coast World Heritage Site and Dorset AONB
Capturing future value of natural assets
THE TASK
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ACCOUNTS
FRAMEWORK
SECTOR
FRAMEWORK
VALUES
FRAMEWORK
ASSET FLOWS SECTOR
FLOWS
EGSS
GREEN
ECONOMY
THE APPROACH
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£0b
£1b
£2b
£3b
£4b
£5b
£6b
0.0
10.0
20.0
30.0
40.0
50.0
60.0
EGSS ratios Sector flows Asset flows Green economy
GVA (£bn - RHS)
With carbon seq.
FTEs ('000s - LHS)
CONTRIBUTION TO DORSET’S GVA AND JOBS
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CENTRAL ESTIMATE
The natural environment:
• contributes £1.5 billion GVA per year
• supports 30,000 jobs
• constitutes 8-10% of output & jobs
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“under all approaches, the net
local benefit of Dorset’s
Environmental Economy is
significant, substantial and
profound.”
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• 63% - 'very important or crucial' for decision to live in Dorset
• Residents willing to pay £3.57 per visit or £34 per year
• Residents spend £6.08 on each visit to coast or countryside
• 90% of residents believe it gives a house price premium – of more than 10%
INTRINSIC VALUE OF ENVIRONMENT - RESIDENTS
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IMPACT ASSESSMENTS OF DESIGNATED AREAS
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• Estimate all economic activity in the
defined area
• Estimate activity in the environmental
economy
• Illustrate the economic activity
associated with natural assets
• Illustrate the value of the designation
APPROACH TO VALUATION
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Dorset AONB influences:
about £65 m of economic output per
year; equivalent to about 1,200 jobs
DORSET AONB
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JURASSIC COAST WHS
Jurassic Coast WHS influences:
about £111 m of economic output per
year; equivalent to about 2,000 jobs
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DORSET’S ENVIRONMENT DRIVES VISITS
0%
100%
60%
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Most visitors aware of designations.
Designations influence decision to visit
0
40
80
120
160
JC AONB
0% 25%
50% 75%
100%
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Willingness to pay - £4.33 per visit
(similar to studies elsewhere)
0
35
70
105
140
175
JC AONB
Nothing
Up to £3
£4-6
£7-10
More than £10
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• Monetary value
• Capturing value
• Markets and prices - commodification?
• Ownership & distribution
• Payment mechanisms
VALUING NATURAL ASSETS: ISSUES
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• Paying for access
• Paying for ecosystem services
• Paying for the benefits of nature
• Public sector support
• Support from the public
• Creating markets for ‘green’ goods and services
MECHANISMS
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OVERALL
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• Significant for output and jobs
• Underpins other sectors
• Needs support - like other sectors
• Wider value – residents and businesses
• Asset value increasing over time
DORSET’S ENVIRONMENTAL ECONOMY
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• Is dispersed - harder to ‘fund’
• Need to factor in the value of nature
• Major risk factors with inaction
• New thinking needed
• EGSS growing relatively fast
DORSET’S ENVIRONMENTAL ECONOMY
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IMPACT
Report publication has:
• Challenged accepted
wisdom
• Changed the terms of
the debate
• Opened new dialogues
between environmental
and economic partners
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FOLLOW-UP
Dorset LNP’s ‘Natural Capital Investment Strategy’:
Development/projects
should:
• Quantify impacts
on natural capital
• Deliver net gains
• Integrate social,
economic &
environmental
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FOLLOW-UP
• ‘Environmental Economy’ report – provided the
evidence base
• Dorset LNP ‘Natural Capital Investment Strategy’ –
represents the ‘ask’ of economic partners
• Ongoing dialogue with Dorset LEP to explore ways of
accounting for natural capital in its investment and
assurance frameworks