Valuation of Ratargul swamp forest conservation: Does climate knowledge matter?

Abstract

The degradation of swamp forest ecosystem services due to the adverse effects of climate change has already been observed. Ratargul Swamp Forest (RSF), the only swamp forest in Bangladesh, provides livelihood and ecotourism opportunities for millions. It forms a crucial nexus between the community's economic well-being and the preservation of a unique, ecologically significant natural habitat. However, this ecosystem has experienced severe degradation due to various climatic and anthropogenic factors. Conservation of this unique ecosystem is expected to play a crucial role in addressing climate change and achieving the country's Sustainable Development Goals (SDGs). This study aims to estimate household Willingness to Pay (WTP) and total economic value for this ecosystem using the contingent valuation under a climate change scenario. The mean WTP is estimated to be 7,360.00 BDT, while the total annual benefit of the RSF conservation program is estimated to be 31,798,129.50 BDT per year using a parametric approach. Our result shows that individuals with higher incomes whose primary livelihood depends on this ecosystem, receive benefits from this ecosystem, and have a good understanding of climate change are likely to pay more for the RSF conservation program. Therefore, implementing a communication policy to increase knowledge about climate change would significantly contribute to conserving this unique ecosystem and thus achieve the country's SDGs and the United Nations REED+ program in developing countries.

Keywords

• Ratargul swamp forest
• Ecosystem services
• Contingent valuation
• Willingness to pay
• Climate change