The Interrelationship of Sustainable Economic Value of Watersheds Using Contingent Valuation Method Approach with Circular Economy: A Literature Study

Abstract

Waste accumulation mainly causes environmental damage. Watersheds experience high waste pollution problems. Therefore, the need to maintain ecological sustainability by maintaining the cleanliness of the watershed environment. This research studies the interrelationship of economic value in watersheds as measured by the contingent valuation method approach with the circular economy. This research aims to identify the application of circular economy and know the use of the contingent valuation method approach in measuring the economic value of natural resources in the form of watersheds. The method used is a descriptive approach using literature studies. This research uses secondary data by collecting data and information through website-based electronic media, relevant journals, previous research, and so on. The results of this research are measuring the economic value of watersheds using circular economy and using the contingent valuation method to find out how willing to pay from the community towards environmental improvement and the desire to receive compensation from ecological damage. The application of a circular economy is expected to reduce waste pollution and can increase economic growth.