The valuation of an ecosystem poses several theoretical and practical difficulties, starting with the definition of the concept of value: in this paper we refer to environmental accounting and Total Economic Value as the outcome of the valuation process. This study shows, by utilizing georeferenced databases and by fully integrating the spatial dimension in the valuation processes, how it is possible to account for a notion of value that considers indicators of integrity of the ecosystem.

In this study, the environmental accounts are supported by geo-referenced databases and GIS tools in order to include the spatial dimension in the economic valuation. GIS takes into account the heterogeneity of space and the related variety in ecosystem functions, attaching a vast array of information to a single unit of analysis and thus providing a multidimensional image and valuation of the ecosystem’s multifunctionality. The aim of this paper is to assess the opening of actual stock in some specific areas, in order to monitor changes over time, in both physical and monetary terms and consistently with the EEA and Eurostat environmental accounting frameworks. The area under examination is the island of St. Erasmo, located in the Lagoon of Venice and arriving to the TEV through the application of GIS in the valuation process is calculated.