The Economic Value of Natural and Built Coastal Assets Part 2: Built Coastal Assets by Sally Kirkpatrick Obst, Griffith Centre for Coastal Management

Both natural and built coastal assets are under increasing pressure from a growing population and also from the projected impacts of climate change. There is a need to better understand how much these assets are worth to the society and also how these assets might be at risk from diverse and dynamic pressures, both current and future. This paper is a review of the existing available literature and research around the issue of economic valuation of built assets in our coastal zones. The paper builds on a previous publication on economic evaluation of natural assets (Part I). Part I provided a brief overview of environment economic valuation techniques and a discussion of several economic assessments covering a range of coastal ecosystems and uses: coastal and marine ecosystems, marine parks, beaches (including visitation – residential and tourism, and surfing), coral reefs, coastal lakes and the intertidal zone (wetlands, salt marshes, mangroves, estuaries and seagrass). The current paper (Part II) reviews recent reports and assessments that provide valuation of a range of built coastal assets (infrastructure) which in many cases is linked to the risks of climate change. The assets discussed in this paper include:‐ value of industry, transport, commercial property and residential property‐ surf life saving clubs‐ services such as water infrastructure and electricity‐ coastal assets managed by local government‐ coastal protection measure such as beach nourishment as an indication of value of the infrastructure protected‐ marine industry‐ ports