Introduction- Property Value
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Transcript of Introduction- Property Value
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Introduction- Property Value• How are other researchers evaluating stacked ecosystem services?
– Payments for Ecosystem Services
Study Location Results
Costanza et al. 1997 Global Average value of annual ecosystem services
Costanza et al. 2006 New Jersey Value NJ’s natural capital
Troy & Wilson, 2006 Case Sites: Massachusetts, Maury Island Washington, three counties in California
Standardized ecosystem service value for changing spatial scale
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Introduction- Property Value• How are we evaluating stacked ecosystem services?
– Property Value vs. Stacked Ecosystem Service Value• Stack One: Nutrient Retention, Carbon Sequestration, Pollination• Stack Two: Carbon Storage, Water Runoff
– In an area with rapid development and increasingly high land values, will the value of stacked services be able to compete?
– Is there potential for creating markets for carbon storage and water runoff?
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Study Site• Upper Neuse River Basin, Central North Carolina
– Current Population = 190,000– Projected Population in 2025 = 280,000
www.unrba.org
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Property Value Methods• Property Value
– Taken from Triangle Land Conservancy– Convert Property Value to $/900 sq-m (30 meter resolution)– 20 year values
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Property Value Methods
• Division of Quantiles– Property value ($) divided by stacked
ecosystem service value ($)– Order of Magnitude– No Data
• Ecosystem Service Value is 0• No data on property value: Govt. Owned Sites
Category Range
1 100,000 - 1,000,000
2 10,000 - 100,000
3 1,000 - 10,000
4 100 - 1,000
5 10 - 100
6 1.05 - 10
7 0.95 - 1.05
8 0.1 - 0.95
9 0.01 - 0.1
10 0.001 - 0.0111 0.0 - 0.00112 No Data
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Nutrient Retention Methods• Nitrogen Loading Caps
– NCAC 15A Rule .0234 and .0279. Rule .0234 (6) (A)
• Cost – NC DENR/DWQ WARMF Report– Estimates nitrogen offset rate of $44/lb of nitrogen
• Translates to $97/kg for a 20 year period at 1% discount rate*
Data Name Value
Maximum Allowable Nitrogen Loading (Entire Upper Neuse
Watershed) 58,370.99 kg N/yr
Nitrogen Loading (At point of interest – Falls Dam) 8,756.00 kg N/yr
Cost 97.00 $/kg*
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Water Runoff Methods• InVEST Water Yield Model
– Convert all agricultural and forest land cover/land use data to urban – Assume change in water yield is the run-off expected
• Costs of storm-water BMP’s for Upper Neuse River Basin– Substituted values for study performed in Mecklenburg County, NC (American
Forests, 2010)– Unit cost of $2-6/cubic ft to mitigate additional storm-water runoff
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Carbon Storage Methods– Output from InVEST model– Social Cost: $154/tCO2 (Frankhauser and Tol 1996)– Current European Market Cost: $74/tCO2
LULC Code LULC Name C_above C_below C_soil C_dead
1 Open Water 0 0 0 0
2 Urban 33 6.6 82.5 0
3 Barren 0 0 0 0
4 Forest 69.95 14.68 109 0
5 Grassland 0.239 0.16 117 0
6 Agriculture 0.98 0 4.56 0
7 Wetland 52 10 163 0
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Carbon Sequestration Methods– Annual NPP for each land cover in watershed at both social and middle cost– 20 year period with 1% discount rate
LULC Code LULC Name C_above C_below C_soil C_dead
1 Open Water 0 0 0 0
2 Urban 7.98 0 0 0
3 Barren 0 0 0 0
4 Forest 10.68 0 0 0
5 Grassland 3.61 0 0 0
6 Agriculture 10.4 0 0 0
7 Wetland 15.6 0 0 0
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Pollination Methods• InVEST Model Output
– Normalize relative scale– Reclassify to percentiles
• Managed Pollinator Estimate• Best Pollination Service Dollar Value:
– $50 for 1 pallets, 1 acre, 1 season – INPUT VALUE = $300 for 2 pallets, 1 acre, year = 3 seasons– Convert $/acre to $/pixel at 30 meter resolution– 20 year value with a 1% discount rate*
Data Name Value
Local Bee Keeper Quote $40-60/acre/season
Best Pollination Service $300/acre/yr
Value per Pixel $66.72/pixel/yr*
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Stacked ES Values Methods
Overlay all value maps:Areas of high dollar value for ES are lighter.
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Stacked ES Values Methods• One-time ES costs– Carbon Storage– Water Runoff
• 20-Year Value– Carbon Sequestration– Nutrient Retention– Pollination
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Agriculture Developed Forest Grass/Shrub Wetland0%
10%
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NoData1,000 - 10,000100 - 1,00010 - 1001.05 - 100.95 - 1.050.1 - 0.950.01 - 0.10.001 - 0.010 - 0.001
Results
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Carbon Full Carbon Top
N Full N Top Pollen Full Pollen Top Stacked Full
Stacked Top
0%
10%
20%
30%
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NoData1,000 - 10,000100 - 1,00010 - 1001.05 - 100.95 - 1.050.1 - 0.950.01 - 0.1
Ecosystem Ser-vice Value >
Property Value
Property Value >
Ecosystem Ser-vice Value
Results
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Results
Carbon Full Carbon Top
N Full N Top Pollen Full Pollen Top Stacked Full
Stacked Top
0%
10%
20%
30%
40%
50%
60%
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80%
90%
100%
NoData1,000 - 10,000100 - 1,00010 - 1001.05 - 100.95 - 1.050.1 - 0.950.01 - 0.1
Ecosystem Ser-vice Value >
Property Value
Property Value >
Ecosystem Ser-vice Value
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Results
Carbon Full Carbon Top
N Full N Top Pollen Full Pollen Top Stacked Full
Stacked Top
0%
10%
20%
30%
40%
50%
60%
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90%
100%
NoData1,000 - 10,000100 - 1,00010 - 1001.05 - 100.95 - 1.050.1 - 0.950.01 - 0.1
Ecosystem Service Value
>Property
Value
Property Value >
Ecosystem Service Value
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FINAL REMARKS
• We have shown that ES can compete with Tax values– Carbon and stacked values, esp top quartile
• Would this actually work?– Currently carbon trades for $0.10 tCO2
• Heterogeneity– Link results to heterogeneity
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Final Remarks
• Big Picture of ES & Biodiversity & Stacked Services
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THANKS!
• Taylor Ricketts, Other people we worked with at WWF
• Contributing Professors• The Triangle Land Conservancy (TLC)• Others?
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LITERATURE CITED