Initial results of valuation study show Guam NSF EPSCoR’s G3 socio-economic potential

For every dollar invested in the Guam Green Growth (G3) Conservation Corps at the University of Guam, the island receives more than three times that amount in economic and social value, according to the partial results of an economic valuation of the G3 initiative.

Christian Valencia, an economist, revealed a snapshot of the ongoing study during the 3rd day of the 16th UOG Conference on Island Sustainability.

Guam NSF EPSCoR is the catalyst for G3. One of its programs is the G3 Conservation Corps, a workforce development initiative that creates opportunities in the green economy.

According to Valencia, the study aims to answer a crucial question: How does the G3 initiative — starting with the G3 Conservation Corps — impact the island economically, and how can this information guide future decisions?

With $1.5 million in legislative funding and a $500,000 local match from 2022 to 2024, G3 is estimated to generate an annualized benefit of $1.7 million, according to Valencia. Around $521,461 of the local investment was appropriated for the G3 Conservation Corps program.

“This results in a return on investment (ROI) of 3.42, meaning for every dollar invested in the G3 Conservation Corps, Guam receives more than three times that amount in economic and social value,” Valencia said.

Valencia provided samples of some of the activities evaluated in the study.

An example involves the removal of invasive algae by the G3 Conservation Corps from Guam’s coral reefs, in collaboration with NOAA, the Marine Lab, and the National Park Service. The estimated economic benefit of this effort is $1.7 million per year, based on reef-related economic values associated with diving and snorkeling activities.

Tree planting efforts under the Guam Restoration of Watersheds (GROW) have also produced significant results. To date, over 5,400 trees have been planted, contributing to carbon sequestration, improved air quality, and stormwater mitigation. These activities have an estimated long-term benefit of $235,000 over the next 20 years, according to Valencia.

“Just putting everything in perspective, these are preliminary estimates, and of course, our work continues, but it’s already clear, G3 is leveraging these local investments to achieve more value for our island community,” he added.

Valencia highlighted the importance of moving beyond traditional economic indicators, such as the Gross Domestic Product (GDP), which he said often fails to capture the full value of sustainability efforts.

“GDP only measures market output, but it does not account for the non-market benefits of environmental conservation, social equity, and public health,” he said. “Our goal is to put a number to the value of these initiatives and show how they contribute to the broader well-being of the island community.”

As the project continues, Valencia will refine their models to quantify the impacts of G3’s work further, helping policymakers and the public understand the actual value of investing in a sustainable future for Guam.

The Pacific Research on Island Solutions for Adaptation (Pacific RISA), based at the East-West Center and Arizona State University, supports the economic evaluation study.