Natural Capital in the Colorado River Basin: Understanding the Economic Value of Ecosystems as Assets

Date/Time: Friday, Sept. 12 / 12 - 1:30 p.m.

The Colorado River Basin is one of the nation's most important water catchments. The economy and ecology of the Basin combine to create a high quality of life for millions of people. Inner and outer Basin dependence on Colorado River water has created immense pressure on this natural system, especially in light of recent drought events. Without wise management of natural capital assets, especially water supply resources and riverside habitat, the sustainability of the agricultural economy, general water supply needs, and wildlife of the Basin are threatened.  

James Pittman is the Co-Author of Earth Economics’ Nature’s Value in the Colorado River Basin, the first comprehensive valuation study of natural capital and ecosystem services ever conducted in the Colorado River Basin. The report shows the scale of the value of the Basin’s water and natural lands: between $69.2 billion and $496.4 billion per year, with an asset value of over $1.8 trillion. This flow of value comes from the ecosystems in the Colorado River Basin and extends well beyond the boundary of the Basin. The study’s goal is to inform stakeholders about the importance and scale of benefits derived from natural systems. This will ensure improved decision-making that will result in a healthier Basin and healthier local and regional economies.
Read the full report here. 

This Brown Bag presentation will provide an overview of ecological economics, methods for ecosystem service valuation and natural capital accounting, as well as results of the recent analysis conducted in the Colorado River Basin. The goal of the presentation is to provide tools, practical frameworks, illustrative examples, and economic data in such a way that Basin stakeholders can understand and prioritize funding in conservation and restoration activities.

James Pittman is an internationally published author, public speaker and professional consultant with over 25 years of experience in sustainability. He serves as an Ecological Economist for Earth Economics, an international think-tank focused on natural capital accounting and the economics of ecosystem services. James currently leads outreach and stakeholder engagement for the Colorado River Basin project, collaborating with public utilities and other organizations focused on management of natural capital and water resources in the region.