Project: Marine Environment Valuation & Restoration Fund
Client: Ministry of Environment, Kingdom of Saudi Arabia
Sustain Value advised on the establishment of a national marine environmental damages fund. The assignment included developing an ecosystem service impact valuation and restoration cost based valuation methodology to determine appropriate levels of compensation to be paid for damages to coral reefs, mangroves, seagrasses and other habitats, and for their restoration. The methodology covers oil and chemical spills, ship and boat groundings and various coastal development impacts. Recommendations were also provided as to how best to restore and monitor damaged marine and coastal habitats, how the marine environmental Fund should operate, and appropriate uses of the compensation funds.