An economic imperative

Wetlands, often hailed as the Earth’s vital organs, play a crucial role in maintaining ecological balance and supporting biodiversity. Using the Ramsar definition, wetlands include any inland, coastal, or marine waterbody, still or flowing, fresh or saline, permanent or temporary, to a depth of 6 m at low tide. Going beyond their ecological significance, wetlands function as natural capital, making substantial contributions to local and national economies through a myriad of ecosystem services. Their ability to cleanse water, regulate floods, sequester carbon, and sustain fisheries establishes them as essential contributors to environmental health.

Frequently overshadowed by development and misconstrued as desolate landscapes, India's wetlands whisper a hidden tale of immense economic value. These diverse ecosystems, encompassing marshlands, swamps, bogs, and estuaries, are far from passive landscapes; they function as the unacknowledged pillars of the national economy, contributing billions annually through a multitude of invaluable services. Conserving these "green goldmines" is not just an environmental imperative, but a critical step towards unlocking a sustainable future for generations to come.

Wetland Ecosystem Services (WESs) encompass a variety of goods and services derived from wetlands, contributing directly and indirectly to human well-being. The depletion and degradation of wetlands result in a decline in both the quantity and quality of WESs. According to the Ramsar Strategic Plan 2009-2015, a significant driving force behind the ongoing deterioration and loss of wetlands is the insufficient information regarding the economic value of WESs. Therefore, it emphasizes the importance of understanding the values, encompassing both costs and benefits associated with wetland resources to ensure the prudent utilization of wetlands.

According to WWF's Living Planet Report 2018, global ecosystem services were valued at a staggering USD 125 trillion annually, with wetlands contributing approximately USD 47 trillion — nearly 40 per cent of the total. This economic powerhouse stems from their invaluable roles in water management, flood control, and biodiversity. Wetlands function as natural filters, effectively removing up to 90 per cent of sediments present in runoff or streamflow. Furthermore, the presence of pollutants such as heavy metals, typically bound to soil particles, enhances water quality as these sediments settle within wetlands. Acting as nature's kidneys, wetlands play a crucial role in ensuring clean water for millions. An illustrative example is the East Kolkata Wetlands in India, where urban waste is treated, and the resulting water is utilized for pisciculture and agriculture, directly supporting the livelihoods of 50,000 people.

As per the Millennium Ecosystem Assessment (MEA) Report 2005, wetlands play a crucial role in recharging groundwater, serving as a vital source of fresh water for an estimated 1.5–3 billion people. Additionally, wetlands act as effective flood mitigators, absorbing excess water during monsoons and gradually releasing it throughout the year. This protective function shields vulnerable communities from severe inundations. A study in 2005 focused on the second-largest mangrove forest on the Indian mainland, Bhitarkanika mangrove in Odisha. The study estimated that the highest avoidance of cyclone damage occurred in the village protected by mangrove forests. In contrast, the village without mangrove protection incurred the greatest per-household loss (USD 153.74), while the village shielded by mangrove forests experienced the lowest loss (USD 33.31); taking the cyclone of 1999 as a reference point.

The economic tapestry extends beyond the aquatic realms, encompassing the realm of biodiversity and eco-tourism. India's wetlands flourish with diverse life, serving as breeding grounds for fish, crustaceans, and vital havens for countless bird species, reptiles, and amphibians. In 2011–2012, fisheries, including both marine and inland, contributed approximately USD 10.9 billion to India's GDP. The majority of the country's fish production, accounting for 61 per cent of the total, originates from inland water bodies. The Indian portion of the Sundarbans, the country's largest mangrove forest, annually contributes over 10 million INR to the national economy through fisheries, honey, prawn, and grain production. The rich biodiversity and the aesthetic value of wetlands attract global eco-tourists, exemplified by the Keoladeo National Park in Rajasthan. As a UNESCO World Heritage Site and a wetland of international importance, it showcases vibrant birdlife and a flourishing eco-tourism industry. Additionally, wetland plants such as reeds and bamboo serve as raw materials for handicrafts and construction, generating income for local communities. In Assam, the Brahmaputra floodplain supports a thriving market for bamboo products, highlighting the economic potential of seemingly unproductive ecosystems. The overall regional economic contribution of some direct benefits from Chilika Lake in Odisha, India, was estimated to be Rs 2 billion per annum.

Despite their substantial economic worth, India's wetlands face numerous threats, including land conversion, pollution, and unsustainable resource extraction. Recognizing their economic significance is crucial for safeguarding them. By investing in wetland conservation and restoration, India can not only secure vital ecosystem services but also unlock new economic opportunities for sustainable development.

The path forward involves incorporating the economic value of wetlands into national planning and decision-making processes. This entails:

✼ Developing comprehensive economic valuation studies of individual wetlands to understand their specific contributions. Additionally, the integration of wetland data into wetland atlas will facilitate a holistic understanding of their spatial distribution and interconnected functions, enabling more informed and sustainable management strategies.

✼ Implementing incentive schemes and policies that involve and reward local communities for protecting and sustainably managing these ecosystems.

✼ Raising awareness about the economic benefits of wetlands among policymakers, businesses, local communities and the general public, while also granting users control over minor products.

✼ Formulating a Wetland Management Plan with active participation from local communities.

✼  Securing funding from various agencies to ensure the long-term well-being of wetlands and instituting monitoring programs, which involve the use of health cards for assessing wetland conditions.

India's wetland treasures stand as silent guardians of our economic well-being. By recognizing their true value, we can pave the way for a future where sustainable development flourishes in harmony with nature's silent riches.

Praveen Garg is the President and Paridhi Jain is a Project Associate of Mobius Foundation, New Delhi. Views expressed are personal