Valuing present and future benefits provided by coastal wetlands and living shorelines

Marshes are important natural capital assets for many coastal communities, providing a range of ecosystem services such as coastal protection, nutrient removal, habitat, and recreational opportunities. We explored the present and future distribution and economic value of tidal marsh (natural marsh and living shorelines) ecosystem services for coastal communities in Virginia, US, using an interdisciplinary mixed-methods, spatially explicit valuation approach. First, a benefit transfer analysis was conducted using literature-derived values adjusted for site-specific conditions. Then, two stated preference surveys were implemented, targeting recreational users and individuals engaged in shoreline management decision-making. We leveraged a wide range of spatial information on the local environment to both adjust values and also develop realistic scenarios in surveys. Survey responses were used to assess service values as well as tradeoffs in shoreline decisions. Marsh values were found to be a significant asset for communities, amounting to ∼$90M/yr in benefits, or 3.3% of annual GDP for the region. Assuming marsh migration into undeveloped lands and the installation of living shorelines for coastal protection where suitable, future discounted service values were predicted to increase slightly. Marsh service values varied spatially, with storm risk reduction (the highest ranked service by community decision-makers) displaying the greatest variation. Recreational opportunities were ranked low by community decision-makers, yet recreational fishers placed a high value on marshes. This highlights that without consideration of locally important services, shoreline management decisions may unknowingly affect local economies. Valuing marsh services can improve social efficiency in shoreline management decisions while also advancing natural capital accounting.