Assessment of the programme of measures for coastal lagoon environmental restoration using cost-benefit analysis

Resumen

The Marine Strategy Framework Directive and the Water Framework Directive are the standards agreed in the European Union with the aim of obtaining a good ecological status in marine and coastal waters by applying a programme of measures. This work expounds the implementation of two economic tools to assess the Programme of Measures intended for the environmental restoration of one of the most important coastal ecosystems in Europe, the Mar Menor coastal lagoon (SE Spain). Thus, the Cost-Benefit Analysis (and its extensions) and the Contingent Valuation Method are used to assess the aforementioned programme in terms of economic and environmental profitability. Results prove the socioeconomic and environmental profitability of the actions due to be undertaken, with rates of return of around 10%. From a methodological point of view, there is a clear need to widen the classic CBA scheme by using the Extended CBA and the Dual CBA to gauge this type of environmental restoration actions.