Ecosystem services assessment at Steart Peninsula, Somerset, UK

A systemic valuation was undertaken of marginal changes in ecosystem services assessed as likely to result from the Steart Coastal Management project, some in monetary terms and others semi-quantified. The Steart Coastal Management project entails allowing seawater once again to inundate formerly defended farmland, including modifications to the landform of to assist the re-creation of a range of wetland habitats on the Steart Peninsula. Primary drivers for this project include habitat creation and management of coastal flooding, although implications for a range of other connected services need also to be taken into account. Ecosystem services for which a market exists (typically traded goods with associated use values) were valued using market prices. For non-traded services, this study relied substantially on the economic valuation technique of 'value transfer'. Despite having to rely on some wide but transparently stated assumptions and uncertainties, a conservative, yet considerable, net annual benefit range of £491,155 to £913,752 was deduced. Research gaps that limited our ability to quantify and/or value several ecosystem services were identified.