FEMA Ecosystem Service Value Updates
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Source: FEMA
FEMA has updated its approach to hazard mitigation by incorporating Ecosystem Service Values (ESV) into its Benefit-Cost Analysis (BCA) Toolkit, measured in terms of dollars per acre per year ($/ac/yr). These updates extend across nine different land cover and ecosystem types and 14 categories of ecosystem services. The inclusion of ESV not only makes the toolkit more comprehensive but also simplifies the application process for subapplicants seeking to implement Nature-Based Solutions (NBS). Recent policy changes have expanded eligible NBS activities and eliminated previous benefit-cost ratio requirements, making it easier for projects focused on ecological benefits to receive funding. This marks a shift towards more sustainable and equitable hazard mitigation strategies.
Provisioning; Regulating; Supporting; Information
The 14 in bold have calculated economic values in $/ac/yr.
Energy and Raw Materials
Food Provisioning
Medicinal Resources
Ornamental Resources
Water Storage
Air Quality
Biological Control
Climate Regulation
Hazard Risk Reduction
Pollination
Soil Formation
Soil Quality
Erosion Control
Water Filtration
Water Supply
Habitat
Nutrient Cycling
Aesthetic Value
Existence Value
Cultural Value
Research and Education
Recreation/Tourism