Economic Assessment of Natural and Climatic Projects: Principles and Factors Determining It

Abstract:

The concept of natural solutions has become increasingly popular due to the growing attention to the problem of climate change. Realizing the key role of ecosystems in storing and absorbing carbon dioxide (CO2), scientists and policy makers are actively looking for ways to use natural solutions to solve environmental problems. Research has proven that natural climate solutions (RCC) can provide more than 30% of cost-effective measures to reduce greenhouse gas emissions needed by 2030 to stabilize global warming below 2°C. An important advantage of RCC is their economic feasibility, expressed in a lower cost compared to technological solutions for CO2 sequestration. Due to the high priority of natural and climatic solutions, there is a need for a full economic assessment of their contribution to national climate policy, taking into account the impact of the public utility of natural resources on the level of satisfaction of human needs. Thus, the economic assessment of the effectiveness of the implementation of natural and climatic solutions is a very difficult task that needs to be solved worldwide.