The Importance of Economic Valuation of Natural Resources as a Basis for Decision-Making to Support Sustainable Development

Abstract

Natural resources (SDA) are a wealth provided by nature and play a vital role in human life. However, the value of natural resources is often not fully considered in decision-making. As a result, many development decisions focus solely on short-term profits without considering the long-term. However, if properly calculated, the economic value of lost natural resources can far outweigh the project's profits. The data in this journal shows that development in Indonesia has been quite good in terms of economic and human welfare, but it has not kept pace with environmental conditions, which are often neglected. By calculating the economic value of natural resources from the planning stage, development decisions can be more equitable and balanced, so that economic progress no longer has to sacrifice the environment for current and future generations.