Open AccessThe total economic value of forest ecosystem services in the tropical forests of Malaysia
Author(s) -
K.M. Nitanan,
Ahmad Shuib,
R. Sridar,
Velan Kunjuraman,
Zaiton Samdin,
Manuela Herman
Publication year - 2020
Publication title -
international forestry review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.526
H-Index - 48
eISSN - 2053-7778
pISSN - 1465-5489
DOI - 10.1505/146554820831255551
Subject(s) - ecosystem services , recreation , forest management , total economic value , forest ecology , business , goods and services , value (mathematics) , market value , ecosystem , forest protection , environmental resource management , agroforestry , geography , forestry , environmental science , economics , ecology , finance , machine learning , computer science , market economy , biology
Direct and indirect use of values and non-use values from forest ecosystem services perform an invaluable set of functions that cater to the needs of both living and non-living things. The values include market services obtained from timber and non-timber forest products, and non-market services (recreation, watershed protection and conservation value) were identified as components of the Total Economic Value (TEV). However, it is difficult to assign a monetary value to all goods and services provided by the forest. Failure to conserve the national park will result in the degradation of the forest and a reduction in the contribution of the forest ecosystem services to the community. Based on the result of this study, the TEV value of forest ecosystem services was estimated at RM 13 billion, and the estimation provides policy-relevant information for forest management and conservation purposes in Malaysia.