Are Protected Areas undervalued? An asset-based analysis of Brazilian Protected Area Management Plans.

When effectively managed, Protected Areas (PAs) are capable of generating multiple forms of value, both tangible and intangible, for individuals and institutions. However, the value-generating potential of many PAs may be going unrecognized and underutilized due to a limited view of management objectives as codified within the parks' Management Plan. Here, we test the hypothesis that PAs are undervalued by evaluating the degree to which Management Plans from four different Brazilian designations (National Parks, Ecological Stations, Environmental Protected Areas and National Forests) recognize different categories of nature-related assets (entities, attributes and relationships that can be protected, managed and/or invested in to generate forms of value).