Mechanisms to capture economic values of marine biodiversity: The case of Tubbataha Reefs UNESCO World Heritage Site, Philippines

This paper examines the use and non-use values of coral reefs as applied to the Tubbataha Reefs UNESCO World Heritage Site. Results from various studies indicate that economic benefits/values from conservation far exceed the costs of conservation. Mechanisms on how such economic values have been and can be captured are discussed. It is noted that non-use values could provide huge capturable economic values.