Human well-being relies critically on ecosystem services provided by nature. Examples include water and air quality regulation, nutrient cycling and decomposition, plant pollination and flood control, all of which are dependent on biodiversity. They are predominantly public goods with limited or no markets and do not command any price in the conventional economic system, so their loss is often not detected and continues unaddressed and unabated. This in turn not only impacts human well-being, but also seriously undermines the sustainability of the economic system. It is against this background that TEEB: The Economics of Ecosystems and Biodiversity project was set up in 2007 and led by the United Nations Environment Programme to provide a comprehensive global assessment of economic aspects of these issues. This book, written by a team of international experts, represents the scientific state of the art, providing a comprehensive assessment of the fundamental ecological and economic principles of measuring and valuing ecosystem services and biodiversity, and showing how these can be mainstreamed into public policies. This volume and subsequent TEEB outputs will provide the authoritative knowledge and guidance to drive forward the biodiversity conservation agenda for the next decade.

A fundamental and comprehensive reformulation of how we value nature and the services it provides as the basis on which all economic activity depends.

This book addresses the economic and policy issues involved in biodiversity protection. It brings together conceptual and empirical work on valuation, international agreements, the policy instruments, and the institutions.

This thought provoking book draws together prominent international authorities to discuss the key methodological issues and challenges in valuing ecosystem services. Covering a cross-section of ecosystems and services in different sites, countries and

The Economics of Ecosystems and Biodiversity (TEEB) study is a major international initiative drawing attention to local, national and global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, the benefits of investing in natural capital, and to draw together expertise from the fields of science, economics and policy to enable practical actions. Drawing on a team of more than one hundred authors and reviewers, this book demonstrates the value of ecosystems and biodiversity to the economy, society and individuals. It underlines the urgency of strategic policy making and action at national and international levels, and presents a rich evidence base of policies and instruments in use around the world and a wide range of innovative solutions. It highlights the need for new public policy to reflect the appreciation that public goods and social benefits are often overlooked and that we need a transition to decision making which integrates the many values of nature across policy sectors. It explores the range of instruments to reward those offering ecosystem service benefits, such as water provision and climate regulation. It looks at fiscal and regulatory instruments to reduce the incentives of those running down our natural capital, and at reforming subsidies such that they respond to current and future priorities. The authors also consider two major areas of investment in natural capital - protected areas and investment in restoration. Overall the book underlines the needs and ways to transform our approach to natural capital, and demonstrates how we can practically take into account the value of ecosystems and biodiversity in policy decisions - at national and international levels - to promote the protection of our environment and contribute to a sustainable economy and to the wellbeing of societies.

This volume reports key findings of the Biodiversity Program of the Royal Swedish Academy of Sciences' Beijer Institute. The program brought together a number of eminent ecologists and economists to consider the nature and significance of the biodiversity problem. In encouraging collaborative work between these closely related disciplines it sought to shed new light on the concept of diversity; the implications of biological diversity for the functioning of ecosystems; the driving forces behind biodiversity loss; and the options for promoting biodiversity conservation. The results of the program are surprising. It is shown that the core of the biodiversity problem is a loss of ecosystem resilience and the insurance it provides against the uncertain environmental effects of economic and population growth. This is as much a local as a global problem, implying that biodiversity conservation offers benefits that are as much local as global. The solutions as well as the causes of biodiversity loss lie in incentives to local users.

This book provides learning materials which are grounded in the experience of Civil Society Organisations (CSOs), with case studies chosen by CSOs and developed collaboratively with leading ecological economists.