Assessment of ecosystem services for climate regulation: case study of the Madu Ganga wetlands

Abstract

The ecosystem services assessment plays one of the key role in the modern concept of sustainable development, including combat climate change and achievement carbon neutrality, since the value assessment of all benefits and risks from ecosystem services is the most visible for decision makers (business and government). Mangrove forests in developing countries, such as Sri Lanka, are important factor in achieving carbon neutrality. The purpose of present investigation was the economic assessment of climate regulation services on the example of the Madu Ganga wetlands (Sri Lanka). The carbon stock was calculated as the marginal cost of reducing carbon emissions, and the sequestration was assessed through the calculation of the carbon social cost or the marginal cost of damage. As a result, the high cost of carbon storage by the Madu Ganga wetlands was revealed - approximately, it amounted to $153,341,221. The cost of the ES for carbon sequestration was $2,153,424. The total cost of services to regulate the carbon cycle of the Madu Ganga wetlands was $155,494,645, or 0.18% of the nominal GDP of the island of Sri Lanka for 2021. The high value of the mangrove forests of Madu Ganga shows their crucial role in achieving carbon neutrality within the framework of the concept of sustainable development.