Economic assessment of the ecological footprint’s impact on ecosystem productivity

Abstract

Abstract: The evaluation of humanity’s ecological footprint has become imperative in contemporary discourse due to escalating environmental concerns. Approaches to economically assess this footprint now employ concrete tools, such as cost–benefit analysis, input–output modeling, contingent valuation, and ecological efficiency ratios, which capture both direct and indirect impacts on ecosystems. This study provides an overview of these prevailing approaches in economic evaluation, emphasizing their methodological application and their significance in quantifying the ecological consequences of human activities. Particular attention is given to the valuation of ecosystem services, including measurable processes, such as oxygen production, carbon sequestration rates, water purification efficiency, and biodiversity indices, which are critical for a comprehensive assessment of humanity’s ecological footprint. The article also examines assessment frameworks through legislative and policy instruments, highlighting the role of environmental impact assessment, the United Nations Sustainable Development Goals, and international agreements, such as the Kyoto Protocol and the Paris Agreement. The analysis evaluates the adequacy of these measures and identifies areas where legislative improvements are required, particularly in climate action, technological innovation, water resource management, sustainable production, and biodiversity conservation. This paper integrates scientific perspectives from seminal scholars. It applies empirical data on the ecological and economic role of forests, focusing on carbon storage potential, biodiversity preservation metrics, soil and water protection functions, and modeling impacts of air quality improvement. The study concludes by underscoring the need for legislative enhancements and the adoption of open data practices at both national and international levels to comprehensively address and mitigate the ecological footprint. Overall, this article combines economic valuation techniques, quantitative indicators, and policy analysis to provide a scientifically rigorous perspective on evaluating and reducing the ecological footprint to support sustainable development.