One of the objectives underlying the valuation of environmental goods and services (which do not enter the market place) is to highlight their significance in economic and social terms. Moreover, such information is used to estimate the potential loss of these resources if conservation attempts are lacking. It has been discussed in the earlier chapter that putting a number on environmental resources is a stupendous task. For example, evaluation of damages to biodiversity is not only extremely difficult, but it would also lack scientific precision. Environmental impact assessment techniques are employed to directly assess damage to the natural, economic and social environment due to developmental proposals. They are intended as instruments of preventive environmental management. Biodiversity conservation initiatives internationally advocate the extensive use of environmental impact assessments to design effective strategies and plans.
Yeti N. Madhoo, “Impact Assessment and Biodiversity Conservation: An Application of EIA and SEA”, in Saving Small Island Developing States, Commonwealth Secretariat, UK, 2010, pp. 48–58.