Quantifying Nature

August 21, 2018

“Botanical Haven” by Ivan Woo from SRN’s SG Photobank

The environment provides free positive externalities that many people are unaware of and tend to take for granted. These ecosystem services include carbon storage, coastal protection and food production.

A team of researchers from the Singapore-ETH Centre (SEC) and the National University of Singapore (NUS) hope to illuminate this by quantifying the benefits of Singapore’s natural capital. This research is co-lead by Associate Professor Dan Friess (NUS Department of Geography) and is the first nationwide project in the tropics that seeks to place an economic value on nature.

The researchers will utilize various methods to determine a monetary and socio-cultural valuation of the natural environment. Ultimately, the project aims to develop an interactive digital planning tool that will inform planners and developers on the implications should they decide to repurpose an existing a green space. This will hopefully discourage undesirable development from occurring in green spaces which are prioritized as areas of higher value.