Zulqarnain Haider | Search USGS

USGS2021

SiteOpt: An open-source R-package for site selection and portfolio optimization

Conservation planning involves identifying and selecting actions to best achieve objectives for managing natural, social and cultural resources. Conservation problems are often high dimensional when specified as combinatorial or portfolio problems and when multiple competing objectives are considered at varying spatial and temporal scales. Although analytical techniques such as modern portfolio theory (MPT) have been developed to address these complex problems, open source computational platforms for executing these approaches are not readily available. We present a user-friendly R-package called SiteOpt for optimization of binary decisions while explicitly considering environmental or economic uncertainty and the risk tolerance of decision makers. We illustrate the package with spatially-explicit site selection problems (i.e. spatial conservation planning), including an option for divestment (i.e. selling assets), when accounting for future uncertainties in designing conservation areas. The tool is applicable to both spatial and non-spatial problems, such as budget allocation or species selection. Constraints for spatial design and spatial dependencies (e.g. connectivity among sites) can also be specified in SiteOpt. Users can optimize site selection based on two competing objectives by solving for the Nash bargaining solution. Importantly, by quantifying uncertainty and asset spatial correlation, a measure of risk can be included as one such objective to be traded off against portfolio benefits. Thus, SiteOpt can be used to explicitly manage risk in portfolio-based spatial optimization. This tool facilitates decisions in a variety of problem settings, including reserve selection, invasive species management, allocation of law enforcement activities for conservation, budget allocation and asset selection under uncertainty and risk.

Ecography↗

USGS2019

Spatial conservation planning under uncertainty: Adapting to climate change risks using modern portfolio theory

Climate change and urban growth impact habitats, species, and ecosystem services. To buffer against global change, an established adaptation strategy is designing protected areas to increase representation and complementarity of biodiversity features. Uncertainty regarding the scale and magnitude of landscape change complicates reserve planning and exposes decision makers to risk of failing to meet conservation goals. Conservation planning tends to treat risk as an absolute measure, ignoring the context of the management problem and risk preferences of stakeholders. Application to conservation of risk management theory emphasizes diversification of portfolio of assets, with the goal of reducing the impact of system volatility on investment return. We use principles of Modern Portfolio Theory (MPT), which quantifies risk as the variance and correlation among assets, to formalize diversification as an explicit strategy for managing risk in climate‐driven reserve design. We extend MPT to specify a framework that evaluates multiple conservation objectives, allows decision makers to balance management benefits and risk when preferences are contested or unknown, and includes additional decision options such as parcel divestment when evaluating candidate reserve designs. We apply an efficient search algorithm that optimizes portfolio design for large conservation problems and a game theoretic approach to evaluate portfolio tradeoffs that satisfy decision makers with divergent benefit and risk tolerances, or when a single decision maker cannot resolve their own preferences. Evaluating several risk profiles for a case study in South Carolina, our results suggest that a reserve design may be somewhat robust to differences in risk attitude but that budgets will likely be important determinants of conservation planning strategies, particularly when divestment is considered a viable alternative. We identify a possible fiscal threshold where adequate resources allow protecting a sufficiently diverse portfolio of habitats such that the risk of failing to achieve conservation objectives is considerably lower. For a range of sea‐level rise projections, conversion of habitat to open water (14‐180%) and wetland loss (1‐7%) are unable to be compensated under the current protected network. In contrast, optimal reserve design outcomes are predicted to ameliorate expected losses relative to current and future habitat protected under the existing conservation estate.

South Carolina↗