TWG 7 – Economic & Monetary valuation

1. Introduction & Objectives

Welcome to the webpage of the Economic and Monetary Valuation Thematic Working Group of the Ecosystem Services Partnership (ESP). This TWG was set up in November 2013 to facilitate dialogue between scientists and stakeholders on the economic and monetary valuation of ecosystems services.

Ecosystem services (thereafter, ESs) are the conditions and processes through which natural ecosystems and the species that inhabit them support the survival of the human species. Globally, these conditions and processes maintain biodiversity and the production of goods (e.g., food) and services (e.g., waste assimilation) that contribute to human welfare.
The GEF-supported Millennium Ecosystem Assessment (MA) concluded that more than 60% of the world’s ecosystem services are either degraded or used unsustainably. There is increasing evidence that many changes inflicted by human activities are potentially irreversible, particularly with regard to biodiversity, with likely negative impacts on development and human well-being that are disproportionately borne by disenfranchised people at local levels. In addition, the MEA’s report stated that among the remaining challenges were: a) lack of data to establish baselines, and to develop tools, models, valuation of ecosystem services or indicators; b) capacity at local levels to carry out assessments of ecosystem services; c) weak institutional and governance arrangement to take up the assessment results and recommendations in policy making; and d) weak market incentives and regulations to support establishment and scaling up of payments for environmental services.

Objectives:

The Economic and Monetary valuation of ecosystem services TWG’s objectives are, but no limited to, the following topics:
  • To identify the main research priorities and challenges on the economic valuation of ES,
  • To identify the emerging tools and methodologies of socio-economic dimension of ES,
  • To identify the key factors that determine the economic, cultural and social distribution of ES across different social groups,
  • To evaluate the social changes underlying the flows of ES,
  • To help identify research and knowledge gaps on those linkages,
  • To facilitate the developmetn of integrated assessments of ES and the dialogue within the scientific community,
  • To explore how scientists can contribute to the science / policy interface on issues affecting ecosystems and human welfare, including support for global or regional processes such as IPBES, the IPCC, and the international sustainable development agenda post-2015,
  • To advocate the application of valuation of ES in decision making processes, especially in development projects.

2. Lead Team & Members

If you are interested in becoming a member of the Lead team, please contact the current lead team members.

If you are interested in becoming a member of this Working group, please click here.

3. More Information

For more information about this sub-working group click on one of the following links: