Economic valuation of green campus practices: A case study of Universitas Sebelas Maret
DOI:
https://doi.org/10.62672/joease.v4i3.274Keywords:
Economic valuation, Green campus, Sustainable campus, TEV, Universitas Sebelas MaretAbstract
The Green Campus concept has emerged as a strategic approach to promoting sustainability and environmentally responsible practices in higher education institutions. This study aimed to evaluate the economic value of Green Campus programs implemented at Universitas Sebelas Maret (UNS), with a particular focus on water conservation, energy efficiency, and waste management initiatives. This study employed a convergent mixed-methods design, combining quantitative data to estimate TEV and qualitative data to support the interpretation of Green Campus benefits. The findings revealed that the total economic value generated by the Green Campus programs at UNS reached IDR 1,197,095,075, indicating substantial environmental and economic benefits. Among the valuation components, Non-Use Value (NUV) contributed the largest share (71.91%), followed by Direct Use Value (27.96%) and Indirect Use Value (0.14%), suggesting that stakeholders place considerable value on the long-term environmental benefits and sustainability outcomes of Green Campus initiatives. This study contributes to the theoretical development of sustainability assessment by extending the use of the Total Economic Valuation framework to the higher education sector, enabling a more comprehensive evaluation of the economic and environmental benefits generated by Green Campus programs. These findings demonstrate that implementing Green Campus programs not only plays an important role in addressing environmental challenges but also provides tangible economic contributions to higher education institutions. Furthermore, this study offers important insights for government stakeholders and university administrators in supporting institutional sustainability and strengthening financial independence within higher education systems.
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