ABSTRACT
Water has value to every person, business and ecosystem. Quantifying the monetary value of water for ecosystem services is a critical consideration when valuing water for the public and private sectors. Quantifying the indirect value of aquatic ecosystems is just one method of value, and is possible after looking at the different methods of valuing water. The economic benefits of water quality can be divided into two categories: withdrawal benefits and instream benefits. While a special economic good and the guidelines get us further along in valuing water, we should be mindful that water also has a cultural dimension. It would be challenging to quantify the spiritual value of water. Water risk for businesses is typically framed as having three dimensions: physical, regulatory and reputational. The authors present a guiding quantitative framework to enable natural capital valuation which "capital theory, accounts for biophysical and economic feedbacks, and can guide interdisciplinary efforts to measure sustainability".
