Valuing New Jersey’s Natural Capital: An Assessment of the Economic Value of the State’s Natural Resources PART I: OVERVIEW
In 2004, the New Jersey Department of Environmental Protection partnered with the Geraldine R. Dodge and William Penn Foundations to undertake an important project to assess the economic value of New Jersey’s natural resources. As a result of generous funding from the two foundations, DEP entered into a contract with the Gund Institute for Ecological Economics, Rubinstein Institute of Environment and Natural Resources at the University of Vermont (“UVM”). The UVM researchers were charged with examining the ecosystem services portion of the project, and DEP staff were charged with examining the ecosystem goods part of the project.
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