Evaluation of Ecological Service Value in Project Decision
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DOI: 10.23977/FEMS2020.030
Author(s)
Zhimin Hou, Jieya Liu and Hong Fang
Corresponding Author
Hong Fang
ABSTRACT
In this paper, ecosystem service value (ESV) valuation models is presented to serve the need of a comprehensive cost-benefit analysis. Environmental cost is subdivided into environmental degradation cost, and environmental mitigating cost. To quantify environmental degradation cost, Equivalent Factor Method (EFM) is employed to generate monetized ecosystem value. As for environmental mitigation cost, Life Cycle Cost Analysis is adopted to quantify negative environmental influence. Two models are applied on Ankang Airport Project to evaluate the projects’ true value. The presented model contains more comprehensive factors, hence better decisions can be made.
KEYWORDS
Ecosystem service value (ESV), Equivalent Factor Method (EFM), Environmental cost