Willingness to pay for Ecosystem Services provided by a Green Infrastructure project in Santiago de Cali

The transformation human interaction has enforced on nature is primarily for the growth and development of cities with production and consumption activities that demand 75 percent of the world's energy and produce 80 percent of its greenhouse gasses. Consequently, the responsibility and the key for changing the current trajectory lies in cities, with an economic development that is less resource intensive. Cities can be very rich in biological diversity that provide ecosystem services. Green infrastructure planning can create frameworks for future development while ensuring the preservation of natural resources that provide ES. Urban Ecosystem services are a key component to building urban resilience and reduced vulnerability through mitigation and adaptation measurement. Cities need not only resilient ecosystem services, but to generate them as well. This paper examined the value of urban ecosystem services provided by a green infrastructure project “Corredor Ambiental Urbano Río Cañaveralejo” in Santiago de Cali, by means of a contingent valuation method (CVM) applying a survey/questioner and damage cost avoided method (DCA) and emphasises in the need for context-specific classification of ecosystem services provided by project. Within this context, the project will provide the city among other benefits with regulating services and cultural services and the WTP for this services is $35.00 per year with a medium range of $25.00 to $44.00. The study also reveals citizens positive attitude towards nature and the environment and the importance of including natural solution in city planning. Past events analysis applying damages cost avoided exposed that an average cumulative value of $92,220.37 dollars (insurance value) per year could be utilized for alternative flood prevention methods. Which relates to the project's objective regarding adaptation and mitigation measures for flood events. A broader and more generalizable result could be obtained if similar studies where performed in the other rivers that course thoroug Cali. Valuation of ecosystem services serves an intrinsic purpose to guide city planner, decision and policy makers, with understanding comes change.