Resolution No. 123 of the Cabinet of Ministers “On economic assessment of ecosystem services”.

This Resolution defines the procedure and conditions for conducting an economic assessment of ecosystem services. An economic assessment of an ecosystem service is conducted for the following purposes: (a) assessing the state of the ecosystem and its components; (b) reducing the harmful impact on the environment and improving its quality; (c) efficient use of financial resources taking into account the direct and remote consequences of the impact on ecosystems during the implementation of state programs; (d) preservation, restoration and sustainable functioning of ecosystems; (e) preparing proposals for the implementation of measures to obtain benefits as a result of the conservation, restoration and sustainable functioning of ecosystems; (f) planning and implementing economic and other activities; and (g) taking into account the cost assessment of ecosystem services when forecasting and assessing changes in the state of the environment for objects associated with the impact on natural ecosystems, when conducting an environmental impact assessment. When conducting an economic assessment of ecosystem services, the following is carried out: (a) assessment of the ecosystem service for the ecosystem that will be impacted by the implementation of the planned economic and other activities, determination of benefits in the environmental, economic and social spheres that can be obtained from the services provided; (b) defining a list of measures that can be taken to predict and prevent adverse impacts on the most significant ecosystem services, and in cases where it is impossible to prevent the impact, measures to minimize it, as well as determining the residual impacts after the application of mitigating measures; and (c) conducting a cost assessment of the water resources ecosystem service in accordance with Appendix 1, a cost assessment of the biological diversity ecosystem service in accordance with Appendix 2. The results of the economic assessment of the ecosystem service shall be presented in the form of a report on the economic assessment of the ecosystem service, which must contain the following sections: (a) information on the objectives of the planned economic and other activities of the customer; (b) assessment of the state of ecosystems and ecosystem services for ecosystems that will be impacted by the services, and the benefits in the environmental, economic and social spheres that the customer can receive from using the ecosystem; cost assessment of the ecosystem service; and (c) conclusions based on the results of the economic assessment of the ecosystem service for the environmental, economic and social spheres.