The Economics of Ecosystems and Biodiversity

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Project Title:

The Economics of Ecosystems and Biodiversity

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Project Type:





4/2/2020 2:41:32 PM

Due Date:

04/05/2020 23:59


Canadian Studies

Number Of Pages:

5     Double-spaced (1500 words)

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Type of Document:

Research Paper

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The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative focused on “making nature’s values visible”. Its principal objective is to mainstream the values of biodiversity and ecosystem services into decision-making at all levels. It aims to achieve this goal by following a structured approach to valuation that helps decision-makers recognize the wide range of benefits provided by ecosystems and biodiversity, demonstrate their values in economic terms and, where appropriate, suggest how to capture those values in decision-making. In March 2007, environment ministers from the G8+5 countries meeting in Potsdam, Germany proposed to initiate the process of analyzing the global economic benefit of biological diversity, the costs of the loss of biodiversity and the failure to take protective measures versus the costs of effective conservation. In response to this proposal, a global study was jointly initiated that same year by the German Federal Ministry for the Environment and the European Commission. The TEEB study follows a tiered approach in analyzing and structuring valuation guided by three core principles: 1.- Recognizing value in ecosystems, landscapes, species and other aspects of biodiversity is a feature of all human societies and communities and is sometimes enough to ensure conservation and sustainable use. For example, the existence of sacred groves in some cultures has helped to protect natural areas and the biodiversity they contain. 2.- Demonstrating value in economic terms is often useful for policy makers and others such as business in reaching decisions that consider the full costs and benefits of an ecosystem rather than just those costs or values that enter the markets in the form of private goods. An example would include calculating the costs and benefits of conserving the ecosystem services provided by wetlands in controlling floods compared to building flood defenses. The demonstration of an economic value even though it does not result in specific measures is an important aid in achieving efficient use of natural resources. 3.- Capturing value involves the introduction of mechanisms that incorporate the values of ecosystems into decision-making through incentives and price signals. This can include payments for ecosystem services, reforming environmentally harmful subsidies or introducing tax breaks for conservation. Here, we are looking at the value of northern ecosystems and the services they provide. These values can be a combination of moral, amenity, and commodity values. These values can be attributable to a single species, an ecosystem, the diversity of species, and the diversity of ecosystems. The values can be influenced by production, quality, economics, and a combination of multiple factors. We seek to address the aspects of value and biodiversity by examining a component of the Arctic TEEB scoping study (Available on Brightspace). This document will outline multiple aspects of northern ecosystems, the values we place on components of them, and hierarchical controls on these systems through time. You are tasked with examining ONE component of the Arctic TEEB scoping study (can be done in pairs, or alone). You will choose one base topic to explore the issues that influence this topic, including; the challenges faced for this issue in the past, present, and/or future, past achievements and/or past practice and/or prevailing knowledge, the prevailing paradigm, externalities, challenges (within the sector), and crossroads issues. You should: Present the context of the issue and why it is important [5 marks] Provide a review of the topic you are discussing in this area in terms of resources used, by whom, why, and how it will affect society [5 marks] Outline the review sections as noted above [20 marks] Note how humans have influenced the environment that may have increased the severity of your topic (e.g., clear cutting of forests leading to slope destabilization hazards in cities, or basement flooding?) [5 marks] Identify key stakeholders [5 marks] Be creative – imagery and diagrams [10 marks] – See Figure 2 for an example Format: A written report with creative diagrams, imagery, and presentation of a maximum of 5 pages. This is a maximum page limit with the consideration of images and diagrams included. You can see an example of a TEEB report at that you can follow.

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