01 Sep Jim Binney
Jim Binney, Australia
Jim Binney – Director. Natural Capital Economics
Jim is a resource and environmental economic practitioner. He has undertaken in excess of 150 consulting assignments in the last ten years. Cost-benefit and cost effectiveness analysis are tools used in most of his projects. A major focus of his work is the integration of environmental values into mainstream decision making and investment.
Presentation Title: Waterways as natural capital underpinning communities and business: a case study on Gold Coast waterways
The Gold Coast is a metropolitan region south of Brisbane on Australia’s east coast. It is famed for its waterways by both the 500,000 permanent residents and the 12 million visitors each year. The waterways are under multiple stressors and the management of the potential risks can be costly. It is important to know the economic and social value of waterways as a means to justify improved management of waterways for future generations of residents and visitors. This presentation summarises the approach and results of a major study to identify and value the key ecosystem services and the natural capital value provided by the Gold Coast waterways to the community and businesses. Several valuation approaches were necessary including three major industry and social surveys. A key outcome from the study is that governments and managers of the waterways have a solid understanding of the value of the waterways, and a means to compare waterways to man-made capital within investment and other decision-making processes.