226
numerical research, this study aims to develop a number of strategies for sustainable
development to meet stakeholder values, instead of presenting alternatives with
inherent benefits. This will assist stakeholders in terms of promoting conservational
benefits of nature-based development activities without neglecting the ecosystem’s
balance in Tasik Kenyir.
Keywords Green economy · Trade-off analysis · Policy · Sustainable development
· Tasik Kenyir
Introduction
The green economy and sustainable development concepts have emerged in recent
years to counter adverse changes in the environment (e.g. climate change and
decrease in non-renewable resources). Due to this, many scholars are convinced that
we cannot continue to utilise the world’s resources without consequences (Lynn and
Eda 2013; Ottman 1998; Wasik 1996). Lynn and Eda (2013) defined “green economy” as a method that aims to reduce the use of ecological scarcities, environmental
risks and ultimately promote sustainable development without degrading the environment. The United Nations Environment Programme (UNEP) task force, environmentalists, researchers and many organisations have conducted research and talks
regarding the green economy to orchestrate a better understanding. However, the
discussions cover a wide range of subjects, including fiscal reforms (Markandya
et al. 2013; Ekins and Speck 2000; Kosquela and Schob 1999), financing, energy
transition, greening of agriculture or aquaculture (Safiih et al. 2015; Mu’tamar et al.
2013), green jobs promotion, economic modelling and green economy indicators.
According to experts, the most complements for green economy initiatives come
from green tourism, also known as eco-tourism (Maharaj and Keith 2015).
Terengganu has the most abundant green tourism sites in the east coast of Peninsular
Malaysia. The rich biodiversity and unique natural places, such as islands (Pulau
Redang, Pulau Perhentian, Pulau Bidong, Pulau Yu Kechil/Besar and Pulau Kapas),
wetlands (Setiu Wetlands), cascades (Tembakah cascade, Sekayu cascade, Belatan
cascade and Payung cascade) and Tasik Kenyir (the largest man-made lake in the
country) may be explored to discover their full potential as green tourism sites.
Tasik Kenyir still has plenty of room for future growth and development in terms of
facilities and services to meet the state’s vision on eco-tourism (KETENGAH 2012,
2013, 2014; Zakaria et al. 2000). However, to uncover its potential, there is a need
to understand the value of Tasik Kenyir as a tourist attraction. To evaluate the values, its existence may be categorised into two as shown in Fig. 1, which are use
value and non-use value (Rusli et al. 2008; Munasinghe 1993).
From Fig. 1, we may conclude that there are different types of economic valuation that describe each and everything in green economic valuation. Eugine and
Miller (1974) indicated three, namely bequest value, existence value and option
value, which have been amended by Munasinghe (1993) into direct and indirect
M. N. A. Ramlee et al.
numerical research, this study aims to develop a number of strategies for sustainable
development to meet stakeholder values, instead of presenting alternatives with
inherent benefits. This will assist stakeholders in terms of promoting conservational
benefits of nature-based development activities without neglecting the ecosystem’s
balance in Tasik Kenyir.
Keywords Green economy · Trade-off analysis · Policy · Sustainable development
· Tasik Kenyir
Introduction
The green economy and sustainable development concepts have emerged in recent
years to counter adverse changes in the environment (e.g. climate change and
decrease in non-renewable resources). Due to this, many scholars are convinced that
we cannot continue to utilise the world’s resources without consequences (Lynn and
Eda 2013; Ottman 1998; Wasik 1996). Lynn and Eda (2013) defined “green economy” as a method that aims to reduce the use of ecological scarcities, environmental
risks and ultimately promote sustainable development without degrading the environment. The United Nations Environment Programme (UNEP) task force, environmentalists, researchers and many organisations have conducted research and talks
regarding the green economy to orchestrate a better understanding. However, the
discussions cover a wide range of subjects, including fiscal reforms (Markandya
et al. 2013; Ekins and Speck 2000; Kosquela and Schob 1999), financing, energy
transition, greening of agriculture or aquaculture (Safiih et al. 2015; Mu’tamar et al.
2013), green jobs promotion, economic modelling and green economy indicators.
According to experts, the most complements for green economy initiatives come
from green tourism, also known as eco-tourism (Maharaj and Keith 2015).
Terengganu has the most abundant green tourism sites in the east coast of Peninsular
Malaysia. The rich biodiversity and unique natural places, such as islands (Pulau
Redang, Pulau Perhentian, Pulau Bidong, Pulau Yu Kechil/Besar and Pulau Kapas),
wetlands (Setiu Wetlands), cascades (Tembakah cascade, Sekayu cascade, Belatan
cascade and Payung cascade) and Tasik Kenyir (the largest man-made lake in the
country) may be explored to discover their full potential as green tourism sites.
Tasik Kenyir still has plenty of room for future growth and development in terms of
facilities and services to meet the state’s vision on eco-tourism (KETENGAH 2012,
2013, 2014; Zakaria et al. 2000). However, to uncover its potential, there is a need
to understand the value of Tasik Kenyir as a tourist attraction. To evaluate the values, its existence may be categorised into two as shown in Fig. 1, which are use
value and non-use value (Rusli et al. 2008; Munasinghe 1993).
From Fig. 1, we may conclude that there are different types of economic valuation that describe each and everything in green economic valuation. Eugine and
Miller (1974) indicated three, namely bequest value, existence value and option
value, which have been amended by Munasinghe (1993) into direct and indirect
M. N. A. Ramlee et al.