The replacement value of flood plains as nutrient sinks: a case study of the river Elbe

The increasing reduction of wetlands such as riparian areas is regarded as a serious loss due to their high ecological value. A growing need for the assessment of wetland values and the beneficial ecosystem services they provide is noted. An overview of recent studies using different approaches to assign monetary values to different valuable functions is given. In a case study of the river Elbe in Germany the function of flood plains as nutrient sinks to improve water quality is considered. The value of these services is assessed in monetary terms using the replacement cost approach, considered the most appropriate in this case. Besides methodological questions, the suitability of monetary valuation in river basin management is discussed.