A concept used to refer to the intrinsic value of some asset, normally natural/environmental. It is the value of the benefits derived from the asset's existence alone. For example, a tree can be valued in a number of ways, including its use value (as lumber), an existence value (simply being there), and an option value (value of things that it could be used for). Existence value is separate from the value accruing from any use or potential use of the asset.

value that individuals place on the existence of living ocean resources.

the value that people place on simply knowing that something exists, even if they will never see it or use it.