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Estimating the damage cost of plastic waste in Galapagos Islands: A contingent valuation approach

Abstract:

Plastic waste affects various ecosystems in the world. The oceanic islands are one of the most affected places by this type of material. A significant case of plastic pollution occurs in the Galapagos Islands. The Galapagos Islands, located west of Ecuador, have one of the most biodiverse ecosystems on the planet. It is the home of unique species in the world, and since 1978 it has been considered as a Natural World Heritage. However, the Galapagos Islands are threatened by plastic pollution. Therefore, this study aims to quantify the cost of environmental damage generated by plastic waste in the Galapagos Islands. The non-market economic valuation approach was used to implement contingent valuation. It was determined that the Willingness to Pay of Ecuadorian families, to reduce plastic pollution, was between US$ 4.90 - US$ 14.51 per year, with a median of US$ 7.65. This estimated value can serve as a reference to demand compensation from those who are generating pollution. At the end of the document, public policies are discussed based on the results obtained.