Word: economice
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Sukhdev, who's also Study Leader for a UNEP initiative called The Economics of Ecosystems and Diversity (TEEB), says that currently "the economic value attached to nature is zero. Our metrics are geared toward consumption and production of man-made goods and services, and we tend to gloss over nature...
There is clearly an irony in the notion that attaching a "price" to ecosystems can help people reconnect with nature and what it offers us. Yet appreciating nature from an economic perspective may put environmental concerns on the table in a way that governments and institutions can work with. "In...
For a site-specific example, in Southern Thailand converting mangroves into commercial shrimp farms yields financial returns of about $1,220 per hectare per year. However, this does not consider the rehabilitation costs of $9,318 per hectare necessary when the area has been "shrimped out" after five or ten...
The challenge is that our business institutions evolved at a time when nature seemed limitless; the idea of endless natural bounty is embedded within our national identity. "In the past, natural resources were abundant," says Robert Costanza, Director of the Gund Institute for Ecological Economics at the University of Vermont...
There have been other efforts to value ecosystem benefits, notably by British economist David Pearce, through his book Blueprint For a Green Economy, which was influential in the 1990s. (Professor Barbier was a coauthor.) What's different now is the urgency - we get news of nature disappearing every day - and...