23 September 2014: The UN Collaborative Programme on Reducing Emissions from Deforestation (UN-REDD) conducted an assessment on ‘The Potential Economic Values of the Multiple Benefits from REDD+ in Panama.’ The assessment considers the value of non-timber forest products (NTFP), the preservation of genetic resources, recreational benefits, hydrological ecosystem services, erosion control, pollination and climate regulation.

The assessment compares three regions in Panama in an effort to help prioritize areas for REDD+ investments based on the delivery of multiple benefits. Findings from the assessment reveal that the annual estimated economic benefits range from US$626 to US$3,122 per hectare.

In addition to the assessment, the report contains a description of a methodology on complete economic valuation techniques and how it can be applied to other areas. The publication notes that the current assessment was indicative and based only on existing studies. In presenting recommendations, the report stresses that there are significant location-based differences in economic values and, as such, local level assessments are useful, as are considerations of non-monetary values and the derivation of marginal values.

The report is produced by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) [UNEP-WCMC Press Release] [Publication: The Potential Economic Values of the Multiple Benefits from REDD+ in Panama – A synthesis of existing valuation studies]