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). Based on a recently proposed PA Asset Framework, we identify what assets are mentioned by Management Plans and what assets are under-represented. Our results indicate that Human and Cultural assets are the least represented of the major asset classes (Biophysical, Human, Infrastructural, Institutional and Cultural) and that many asset sub-categories that should reasonably be expected to be present in Management Plans are frequently not mentioned. Assets that are not being considered in Management Plans are, by extension, less likely to be managed and/or invested in. Given the strong similarities between PA Management Plans in different countries, these results probably reflect a general trend. A simple way to ensure that PAs maximize the value generating potential (within the context of their designation) would be to survey their assets and generate a ‘PA Asset Management and Investment Plan’ to supplement and support existing planning documentation. •Key natural assets are undervalued in Brazilian Management Plans.•Recognizing key assets can be a way to strengthen the management of Protected Areas.•Human and cultural assets are relatively less represented in Management Plans.•The absence of assets indicating that potential values are may be being overlooked.