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Water valuation is the process of expressing a value to the range of goods and services that the resource provides to support its allocation and sharing. The ‘value’ of the water resource may be economic, cultural, spiritual, and traditional in addition to its intrinsic value (i.e. ecosystem provisioning services). Within each of these categories, the following values may be considered:
Active resource values: is the resource being used? If the resource is being used, is it being consumed?
Passive resource values: is there value in preserving this resource?
Water valuation may be used as part of a decision-making process that aims to address water management issues. As part of Yukon’s membership to the Canadian Council of Ministers of the Environment (CCME) Water Management Committee, we have been involved in the development of “Water Valuation Guidance Document”.