A benefit-cost comparison of varying scales and methods of coral reef restoration in the Philippines

Abstract

The slow rate of recovery in some reefs around the Philippines has prompted the widespread investment in active reef restoration in the country. However, from the point of view of society, these different coral reef restoration investments have not yet been fully compared in a benefit-cost analysis. In this paper, the economic efficiencies of four coral reef investments are compared - at two different scales (local and national) and two different technologies ('coral gardening' and 'mass larval enhancement'). The values are derived from a previous valuation study that used the Choice Modelling method of estimating non-market values of coral reef restoration. The capacity of these values to facilitate comparisons among reef investments is thus assessed in this paper. Based on predictions from reef restoration scientists the Philippines, the mass larval enhancement investments are estimated to produce higher net benefits and benefit-cost ratios compared to those of coral gardening. In terms of scale, higher net social outcomes for the local-scale investments support more localized approaches to coral restoration.

Keywords: Benefit cost analysis; Choice modelling; Coral reefs; Philippines; Scale effects.