Valuing Ecosystem Goods and Services - Assignment Example

Valuing Ecosystem Goods and Services Name The name of class Professor Date Question 1 Introduction to Ecosystem An ecosystem is the relationship of all the living and non-living organisms and how they strive for survival and interact with human beings. One of the most treasured constituents of an ecosystem is water. Water is one of the most valued sources of an ecosystem since all living organisms require water for survival. Places with an inadequate supply of water are termed as inhabitable as they cannot support life. Only 2.5% of water in the whole world is fresh, making water a very valuable and a critical commodity (Agarwal 2008, p. 118). Any living organism requires water for any metabolic reaction to take place. For example, human beings use water for cooking and drinking while the plants require water for the process of photosynthesis. Question 2 Industrial uses: For any industry to operate effectively, there must be plenty of water. Most of the industries are situated in areas with water sources. Some industries use water as a byproduct of the manufacturing process. By this water is required in the mixing of the raw materials. In industries, water is also used as a coolant in that most of the engines in the industrial process are heat generating and therefore, the temperatures require to be regulated for the efficiency of the machines (Clarke 1991, p. 111). Irrigation: Irrigation is the artificial application of water to farm inputs. In irrigation water is applied to farms, horticultural crops, pasture as well as for frost and freeze protection. Water is also used for mixing agricultural chemicals. Leaching of salts from the crop root areas is also done using water. Water is also used for irrigation of golf courses and parks. Domestic uses: Water is used in day-to-day activities at home: for example, people use water for bathing, cooking, drinking, washing clothes, watering lawns and in food preparation. Therefore, human beings require water in everyday activities. Electricity generation: In the process of generating electricity, water is used in rotating turbines using steam power. This has become the main source of electricity generation in the whole world. After using water in turning turbines, it is then cooled back through condensation where it is then reused in the same process. Transportation: Water is a means of transportation which is widely used in the transportation of heavy and bulky goods. Human beings also use water as a means of transport. Generally, water transport is better compared to other means since it is not prone to jam. The table below shows triple bottom line rating for ecosystem goods and services (where L=low, M=medium and H=high) Goods/services Economic value Environmental value Social value Industrial H L L Irrigation H H L Domestic M H H Electricity H M L Transportation H M M Question 3 Some of the benefits associated with goods and services provided by water are direct use, indirect use, future use and non-use. Direct use: A direct use is when the water source is turned on and water comes out and is used immediately. For example, cleaning utensils, showering, cooking or drinking a glass of water (Frerot 2011, p.133). Indirect use: Indirect use of water is when a product or service that necessarily required water is used for its production or services that require water to be used for its production or water usage that one is not readily aware of. A good example is the production of electricity. Future use: Future use of water is when water is used currently so as to come up with good outcome afterwards. An example of the future use of water is when it is used for irrigation of farms. Water is very important to the future growth of both plants and animals. Nonuse: This is when water withdrawn for a particular use is not consumed for the main intended use. For example using water as a means of transportation. The table below shows examples of water benefits ECOSYSTEM: WATER Direct use benefits Indirect use benefits Future use benefits Non-use benefits drinking, bathing, and in food preparation used in building, construction of roads future growth of animals as well as plants transportation processes Question 4a It is imperative to discuss also some of the potential factors that could bring about the failure of the market with respect to water. The broadly discussed failure that mainly affect water is pollution (de Villiers, 2001 p. 56). Another observed problem that may arise from water is soil erosion. Water pollution: this is the contamination of water sources when pollutants directly or indirectly come into contact with water bodies without undergoing any treatment to remove the toxic compounds. Types of water pollution Some of the water sources include seawater, rivers and lakes. The most commonly observed water pollution is ground water pollution. It can be brought about by spills from a petrol tanker that will likely create an oil silk that is likely to affect a wide range of the seawater sources. This can, in turn, lead, to suffocation of water inhabitants and users, thus, causing a threat to life. Not all water sources are found on the surface. Some of the water sources, such as aquifers, are found underground. Aquifers feed rivers with fresh water that can be used by human beings for domestic uses. They are usually polluted by pesticides and other chemicals that may drain into the ground. This water pollution is less obvious as compared to the surface water pollution since places without contamination may not be polluted. Pollution may also occur from a point source. That is when pollution comes from a single location such as a discharging outlet attached to a factory. This type of pollution may also occur when smoke is released into the atmosphere by the industry chimneys. Plastics may also lead to water pollution. Plastics are one of the most common effluents that usually washes up with the waves. This is because plastic is one of the main byproducts in the manufacturing of almost all kinds of objects from automobile parts to human clothing. Most plastics do not decompose. Thus, they are said to be non-biodegradable. Question 4b How to overcome water pollution Pollution is a major problem affecting water sources; hence, different strategies have been put in place to counteract its effects. There are many ways of counteracting this market failure that is brought about by pollution. Some of the ways used to stop this action of pollution are the treatment of sewages, educating people well about litter disposal, and recycling of water to be used in industries (Frerot 2011, p.143). Economics Since water has a higher economic value, there is a need to protect it. This will help ensure its efficiency and sustainability. It has been agreed upon by environmental experts that the best way to handle pollution is through polluter pays principle; this means that whoever is responsible for the pollution, in one way or the other, should always pay for the processes of cleaning it up. Polluter pays works in different ways depending on the harm that the pollutant has caused to the surrounding. This means that a tanker owner should always take an insurance that covers the cost of oil spill clean-up in the seas and other water bodies. Everyone doing shopping is also entitled to pay for the plastic grocery bags. This will encourage recycling of this bags and minimise of their wastes. The entire future of all the living organisms depends on water. Question 5 What is water valuation? Water valuation is the approximation of demand curves and the areas under them, analysing the transaction and estimation of the cost of the production process. Challenges in valuing water Sometimes it becomes difficult in valuing. This is brought about by some of the challenges faced. For example, at times, the services being replaced may just be a portion of the entire damage. Therefore, the benefit to protect water will be understated (yates 2012, p 99). A small portion of environmental resources has direct or indirect substitutes. Therefore, the replacement methods require a lot of information in substitution method. Substitute products have the tendency of providing the same type of outcome as the natural resource. The cost of replacing damages is not an accurate measure of the benefits. The method of valuation may at a time be inconsistent thus not providing accurate results at long last since the method is based entirely on the benefits cost comparisons. The cost of action taken at times may underestimate the outcome of the new action to protect the resource. The methods of valuing also do not consider the human preferences and therefore, they should be used as a last option in the evaluation. Methods of water valuation There are different methods that can be used in valuing water as a natural resource. For example, some of the approaches used are like marketing analysis and market-based transactions whereby the market prices of both the inputs and outputs are available. In addition, observation of water use behaviour should be derived. There should be a balance in the cost used to reach a recreation point with the approximate value of the recreation. Aversive behaviours and defensive expenditures should be incurred. Conclusion In summary, it is imperative to learn about water since its one of the most important. Water is required in day-to-day activities since all life depends on water. Therefore, different conservation methods should be put in action so as to avoid water pollution. References Agarwal, S. K. (2008). Water Pollution. New Delhi, A.P.H. Pub. Corp. Clarke, R. (1991). Water: The International Crisis. London, Earthscan Publications. De Villiers, M. (2001). Water: The Fate of Our Most Precious Resource. Boston, Ma, Houghton Mifflin. Frérot, A. (2011). Water: Towards A Culture of Responsibility. Durham, N.H., University of New Hampshire Press Jia, A. (2015). The Water Book United Nations. (2006). Water A Shared Responsibility. Paris [U.A.], UNESCO [U.A.] World Water Assessment Programme (United Nations). (2003). Water For People, Water For Life: A Joint Report By The Twenty-Three UN Agencies Concerned With Freshwater. New York, UNESCO Pub Yates, I. (2012). Water: Activities for 3-5 Year Olds. Edlesborough, Brilliant Read More