Temporal Elements in the Valuation of Environmental Damage: Reflections on the Costa Rica v. Nicaragua Compensation Case before the International Court of Justice

In the Costa Rica v. Nicaragua judgment of 2 February 2018, the International Court of Justice (icj), for the first time in its jurisprudence, explicitly accepted the compensability of environmental damage. Nonetheless, the valuation of environmental damage is less easy. Since conditions concerning the environment and its natural resources may change with the passage of time, there is a need to take the dynamics and variability of the environment into account in the valuation of environmental damage. In this regard, considerations of temporal elements, including the time necessary for recovery of the environment and ecosystem, are key. Thus this article aims to consider the issues of the valuation of environmental damage in the Costa Rica v. Nicaragua Compensation case focusing particularly on temporal elements. In particular, this article critically analyses the icj’s methodology for the valuation of environmental damage. This article also examines the issues of climate change and use of experts in the valuation of environmental damage.