Nagoya, Japan, 20 October 2010 The economic importance of the world's natural assets is now firmly on the political radar as a result of an international assessment showcasing the enormous economic value of forests, freshwater, soils and coral reefs, as well as the social and economic costs of their loss, was the conclusion of The Economics of Ecosystems and Biodiversity (TEEB) report launched today by TEEB study leader, Pavan Sukhdev.
"TEEB has documented not only the multi-trillion dollar importance to the global economy of the natural world, but the kinds of policy-shifts and smart market mechanisms that can embed fresh thinking in a world beset by a rising raft of multiple challenges. The good news is that many communities and countries are already seeing the potential of incorporating the value of nature into decision-making," said Mr. Sukhdev, a banker who heads up the Green Economy Initiative of the United Nations Environment Programme (UNEP).
He was speaking at the launch of the two-year study, which has involved hundreds of experts from around the world, at the Convention on Biological Diversity's 10th Conference of Parties meeting (CBD COP10) in Nagoya.
The TEEB study calls for wider recognition of nature's contribution to human livelihoods, health, security, and culture by decision-makers at all levels (local to national and business to citizens). It promotes the demonstration, and where appropriate, the capture of the economic values of nature's services through an array of policy instruments and mechanisms.
Countries such as India have already announced plans for implementing the economic valuation of their natural capital as well as the value of nature's services in decision-making.
"TEEB's approach can reset the economic compass and herald a new era in which the value of nature's services is made visible and becomes an explicit part of policy and business decision-making. Do nothing, and not o
|Contact: Tilo Arnhold|
Helmholtz Association of German Research Centres