11. Conclusion

The environmental economics methods introduced in this toolkit can be applied to inform the use and management of marine ecosystems in a wide array of policy contexts, including: advocacy and raising public awareness; appraisal of projects, investments and policies; impact assessment; sustainable financing; and setting compensation for environmental damage. Such information can be useful input to specific management processes addressed by the GEF LME:LEARN project, including LME financing, TDA, MPA appraisal, marine spatial planning and the design of ecosystem based adaptation investments.

The purpose of applying environmental economic methods is ultimately to provide relevant, credible and actionable information to support better use and management of marine resources. This primary aim should be kept firmly in mind when applying methods and presenting results; and any application should be designed to provide information that is directly useful and understandable to the decision makers involved. Adhering to the following conditions/principles can help ensure that the information produced by an environmental economics analysis achieves this aim: access to and partnership with the decision-makers using the information; identify clear policy questions or information demands to be addressed; high transparency regarding the methods, data and analysis to ensure trust and credibility. Environmental economics analysis is not an end in itself, but
a means to better informed decision-making that results in sustainable use of marine ecosystems.