Process / pipelineEconomic valuation
Ecosystem Services Valuation
Ecosystem Services Valuation (ESV) is a framework pioneered by Costanza and colleagues (1997) that assigns economic value to the benefits nature provides to humanity—from pollination and water purification to climate regulation and cultural enjoyment. Formalized in the Millennium Ecosystem Assessment (2005) and The Economics of Ecosystems and Biodiversity (TEEB 2010), ESV bridges ecology and economics to make the invisible value of ecosystems visible to policymakers and markets.
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Sources
- Costanza, R., d'Arge, R., de Groot, R., Farberk, S., Grasso, M., Hannon, B., ... & van den Belt, M. (1997). The value of the world's ecosystem services and natural capital. Nature, 387(6630), 253-260. DOI: 10.1038/387253a0 ↗
- Millennium Ecosystem Assessment (2005). Ecosystems and Human Well-being: Synthesis. Washington, DC: Island Press. link ↗
- TEEB (2010). The Economics of Ecosystems and Biodiversity: Mainstreaming the Economics of Nature. A synthesis of the approach, conclusions and recommendations of TEEB. link ↗