This study provides information on the magnitude of the economic benefits from the habitats of the Great Lakes basin ecosystem. A total economic valuation (TEV) framework is used to undertake a cost-benefit analysis of two intervention strategies – wetland protection and restoration – aimed at protecting and restoring habitats. The costs and benefits of these habitats and the intervention strategies are estimated for Credit River – 16 Mile Creek, the Toronto Area and Prince Edward Bay.

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This study undertakes an economic welfare analysis using a cost-benefit framework that assesses the total impacts to societal welfare. Using the Toronto and Region Conservation Authority’s Rouge River Watershed: Scenario Modeling and Analysis Report, 2007 as a case study and a total economic value (TEV) framework as the valuation approach, the costs and benefits of two future land development scenarios – sustainable communities and full build-out – are analyzed. These results are extrapolated to the Golden Horseshoe area and then used to estimate the impacts of the two development scenarios on Lake Ontario.

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This report analyzes the economic value of protecting the Great Lakes by preventing the establishment of aquatic invasive species that are a threat to the Great Lakes ecosystem. In order to understand the magnitude of the impacts of invasion relative to the costs of preventative measures, the report uses cases studies to examine the costs of invasion due to zebra mussels and the costs of prevention for Asian Carp. The study uses an analysis of economic welfare to evaluate the costs and benefits that accrue to stakeholders as a whole.

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This review of the literature on the economic value of the goods and services provided by the Great Lakes includes the direct, indirect, option and non-use values associated with Great Lakes protection. The report discusses the main stressors to the Great Lakes ecosystem, contextualizes the value estimates by reviewing cost benefit analyses, and summarizes economic valuation data.

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The Blue Economy Initiative seeks to draw attention to the connection between water and the economy. Running Through our Fingers revisits economist Andrew Muller’s 1985 analyses and estimates for the value of water’s contribution to Canada’s economy. The report highlights the importance of water to the economy, the limited information available for determining water’s value with respect to economic activities and in its natural state, and provides suggestions to address the gaps in available information.