Application of Social Return on Investment (SROI) Method in Wetland Conservation

Abstract

This study was conducted to evaluate the effectiveness of the U Minh Thuong National Park (UMTNP) Conservation Master Plan for the 2019-2023 period. The Social Return on Investment (SROI) framework was applied to assess and integrate the economic, social, and environmental impacts on stakeholders, including local authorities, buffer zone communities, UMTNP, and the tourism community. The results showed that while the SROI ratio was only 0.99, reflecting a modest financial return where the total investment of 103.62 billion VND generated an accumulated impact value of only 110.01 billion VND over five years, the project still yielded many significant benefits. These benefits include improved ecosystem services, enhanced carbon sequestration capacity, and improved livelihoods for the community. Sensitivity analysis indicated that the number and spending of tourists, along with the carbon sequestration capacity, were the main factors affecting the investment outcomes. Scenario analysis revealed that by attracting higher-spending tourists and participating in the carbon credit market, the SROI ratio could reach 2.0. This underscores the importance of optimizing ecotourism strategies and leveraging sustainable financial mechanisms like the carbon market to ensure a balance between biodiversity conservation goals and local socio-economic development.