TEDx Yerevan - Redefining Our Economic Systems: Could A Forest Be Worth More Than A Gold Mine?

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TEDx Yerevan - Redefining Our Economic Systems: Could A Forest Be Worth More Than A Gold Mine?

  1. 1. Redefining Our Economic Systems:Could A Forest Be Worth MoreThan A Gold Mine?Presented by Jason Sohigian @ TEDx Yerevan
  2. 2. Natural capital: Forests = green infrastructure
  3. 3. Forests protect Armenia’s rich biodiversity Caucasian Leopard, Shikahogh Reserve in Syunik Photo by A. Malkhasyan, I. Khorozyan, and M. Boyajyan used w/permission of WWF Armenia
  4. 4. Forests conserve strategic water resources
  5. 5. Forest loss, drivers of deforestation1,000 BC = 35+% 1998 = 12% 2008 = 8%
  6. 6. Balance sheet: What is a forest worth? Min value ($/ha/year) Max value ($/ha/year) *Provisioning services $25 $1,736Regulating services $3 $456Habitat services $0 $2,575Cultural services $1 $96Total value $30 per ha per yr $4,863 per ha per yr* Source: Monetary value of ecosystem services provided by temperate forests, The Economics of Ecosystems & Biodiversity (TEEB), United Nations Environment Programme, 2010
  7. 7. …what is the value of Armenia’s forests?From $7 millionper year… …to up to $1.1 billion per year!* Using TEEB’s low * Using TEEB’s high estimateestimate of forest value of forest value
  8. 8. Tourism depends on “natural capital”
  9. 9. Beverage industry depends on “natural capital”
  10. 10. Armenia relies on hydro for 30% of its energy
  11. 11. Forest conservation can save billions of $$$New water filtrationplant = $6 billion Forest conservation in watershed = $1.5 billion Catskill Watershed New York City’s drinking water
  12. 12. Redefining our economic systems…
  13. 13. Thanks @TEDxers! Image credits: AUA, Sarah Hayes, Hawk Khatcherian, Jeff Masarjian, Jason Sohigian, UNDP, WWF Armenia Learn more: http://bankofnaturalcapital.com/http://www.unep.org/greeneconomy/ http://www.wri.org/ecosystems/esr

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