TEEB – a study on The Economics of Ecosystems and Biodiversity was launched by germany and the European commission to develop a global study on the economics of biodiversity loss.
A new report has been published, summarizing the study findings for policy makers. The main points:
1. Valuing ecosystems makes economic sense
Losses in the natural world have direct economic repercussions that we systematically underestimate.
2. It is essential to measure nature and biodiversity
Developing our capacity to measure and monitor biodiversity, ecosystems and the provision of services is an essential step towards better management of our natural capital.
3. Investing in nature pays off
Investing in natural capital supports a wide range of economic sectors and maintains and expands our options for economic growth and sustainable development.
4. The social dimension needs to be fully taken into account to develop successful strategies to protect biodiversity
This involves making sure the right people pay – both locally and globally. It also means looking at property and use rights and potentially easing any transition pains.
5. Nature is an asset in future economic strategies
Biodiversity and ecosystem services are natural assets with a key role to play in future economic strategies seeking to promote growth and prosperity.