Valuation and Management
Why value ecosystem services?
"We cannot manage what we don't measure" is one of the key messages of the TEEB reports, and it captures much of the rationale behind valuation of the environment in general and of ecosystem services in particular.
Benefits of ecosystems that are not explicitly valued are often neglected in ordinary policy making (e g in cost-benefit analysis). Valuation, qualitatively, quantitatively or in monetary terms, makes it easier to incorporate ecosystems in decision making regarding management or even in economic accounting, which is the basis for much policy making in general. This in turn makes it easier to manage them optimally (in other words to avoid unnecessary costs to society because of suboptimal management).
The Economics of Ecosystems and Biodiversity (TEEB)
The TEEB study is a major international initiative to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward.
Read more:
www.teeb4me.com
The Economics of Ecosystems and Biodiversity (TEEB)
